Honing in on Jackson Hole
Jackson Hole is the Key event for the week
Does Powell say anything different that will really matter, probably not, but the expectation will be the game of the week. While we outlined the big framework of S&P pricing of 2521 support and 3025 resistance, for the short term 2840 support and 2960 resistance will be the goalposts.
Our Political comments of last week are key for the big picture
If Warren can win and the Senate flips to Democratic we will see the first chance to bring solid economics in place in 40 years. My opinion, we are seeing the endgame of Reaganomics and Supply Side foolishness. Things are so bad, the Democrats big problem during this 40 year period, the Blue Dog conservatives, will have their tail between their legs.