Put to call ratio is going up, market had a panic oversell on Friday with the Evergrande news.
Turns out they were not bankrupt they were just filing for protection.
Now I think the bad news is still to come, but with the Friday action of the oversell and re-adjustment upwards I think we are in for a bounce.
We have some catalysts that may cause people to get bullish, Jackson Hole is this upcoming Friday, retail expects positive talks that will boost the market, retail will likely buy in prior to the talks in order to catch the "pump" that they expect to occur after. There is also Labor Day, which is usually bullish.
What I would be looking for is an attempt for markets to front run these events and actually rise before labor day, if markets sell off after labor day then you have a good head and shoulders play.
Turns out they were not bankrupt they were just filing for protection.
Now I think the bad news is still to come, but with the Friday action of the oversell and re-adjustment upwards I think we are in for a bounce.
We have some catalysts that may cause people to get bullish, Jackson Hole is this upcoming Friday, retail expects positive talks that will boost the market, retail will likely buy in prior to the talks in order to catch the "pump" that they expect to occur after. There is also Labor Day, which is usually bullish.
What I would be looking for is an attempt for markets to front run these events and actually rise before labor day, if markets sell off after labor day then you have a good head and shoulders play.
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