Futures were ugly. Now they aren’t as ugly.
I wonder if the market might be holding back from pricing in the worst.More escalation, higher oil, bad for stocks.Trump has obviously escalated with the blockade.S&P really not acting like he did…maybe tomorrow morning is when the real action begins but there may be a world where the markets, once again, believe Trump is using this to negotiate and are willing to give him the benefit of the doubt to enter “Round 2” of negotiations.If we full on escalate at the Strait and start fighting back and forth, it would feel bearish. Trump’s posts make you think that would happen.The market…which just pulled a +7% move in 2 weeks and took many sectors down like SaaS, might not easily just give back that gain because of the amount of people willing to 1) buy oversold sectors like $IGV and 2) bet that Trump doesn’t go all the way.Do you think we go back to March 30th lows?Source: amit
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