Slowly Thinning Air

Published by

Q2 2022 hedge fund letters, conferences and more Sure, ISM services PMI provided a daily boost to the rally, and so the revamp calculations behind tomorrow‘s non-farm payrolls would work (would the pesky hours worked sending the opposite message, get recalculated as well?) in a bid to keep the increasingly FOMO confidence in the S&P 500 rally going. It still has the hallmarks of a short-covering rally, and not of genuine animal spirits – that doesn‘t square with the dreaded R word. To feel the daily pulse, let‘s move right into the charts (all courtesy of – today‘s full sc…

Read More