Macro Theme: Key dates ahead: 12/20 OPEX 12/31 OPEX Q-end 12/24 1/2 day (Xmas Eve) 12/25 Market Closed 12/20: We think vols indicate oversold conditions into a massive put-clearing OPEX. For this reason we are looking to removing short, and looking for defined risk...

Macro Theme: Key dates ahead: 12/20 OPEX 12/31 OPEX Q-end The SPX has to recover 6k before Monday 12/23 in order for stability to re-enter the market. Until/unless that happens we remain concerned that 12/18 volatility was just an "amuse-bouche", and not a one-off...

Macro Theme: Key dates ahead: 12/18 FOMC 12/20 OPEX 12/31 OPEX Q-end Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy the dip mode"...

Macro Theme: Key dates ahead: 12/18 FOMC 12/20 OPEX 12/31 OPEX Q-end Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy the dip mode"...

Macro Theme: Key dates ahead: 12/18 FOMC 12/20 OPEX 12/31 OPEX Q-end Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy the dip mode"...

Macro Theme: Key dates ahead: 12/12 PPI/Jobs 12/18 FOMC 12/20 OPEX 12/31 OPEX Q-end Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy...

Macro Theme: Key dates ahead: 12/12 PPI/Jobs 12/18 FOMC 12/20 OPEX 12/31 OPEX Q-end Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy...

Macro Theme: Key dates ahead: 12/11 CPI 12/18 FOMC 12/20 OPEX 12/31 OPEX Q-end Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy the...

Macro Theme: Key dates ahead: 12/6 NFP 12/11 CPI Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy the dip mode" until/unless...

Macro Theme: Key dates ahead: 12/6 NFP 12/11 CPI Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy the dip mode" until/unless...

Macro Theme:   Key dates ahead: 12/6 NFP 12/11 CPI Our primary risk metric signals being long of equities while SPX >6,000 with an upside target 6,100. <6,000 we flip to risk-off. Through to 12/20 OPEX we plan to operate in "buy the dip mode" until/unless...

Founder's Note: Thu, December 05, 2024 at 7:00 AM ET Macro Theme:   Key dates ahead: 12/5 Jobless Claims 12/6 NFP 12/11 CPI Our primary risk signals signal long of equities while SPX >6,000 with an upside target of 6,050, then 6,100. We are neutral...