Late Afternoon Comment..

Tomorrow should be a fascinating day. Probably a bad PCE number in the morning (high inflation number) and only thing that can offset it, is ass backwards, i.e. the 10 year interest rate dropping today.

It feels good to have gotten out of S&P and Nasdaq 100 short positions 2 days ago, and just watch.

The market is in compression here, a number of services are saying a big down out of the bubble starts here. That is a possibility, but my view remains that a volatile trading range is more likely for now. The FED is not doing what it needs to get the excess liquidity under control.

With this much compression, a really big rally can ignite also. If certain things trigger, I may even try the long side for a trade in speculative accounts. I will let you know immediately if I initiate a long trade.

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