S&P 500 refused further decline, but picture is far from impending rebound strength. One though can‘t get rid of the impression from Kashkari’s speech (the Fed is happy about the marlet reaction to Powell‘s FOMC speech), that this stock market rally isn‘t looked at exactly the same way as the summer one. Still, short-term caution rules as real assets haven‘t yet recovered, and the dollar relief rally had been confirmed as having started – I‘m looking for relatively uneventful session prior to Powell‘s yet another speech – speech which would give direction for the remainder of this week, till F…

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