MINI GROWTH SCARE
De-Risking Into Jackson Hole & Nvidia Earnings
Quick Note - as I’m out of town Thurs - Sun, back Monday morning for my live trading room - when I will resume the daily ditties.
Fitch will get no debate from me:
Fitch Ratings: US consumer spending slows sharply as labor market weakens, tariffs raise inflation.
Geoffrey has focused strongly on Consumer Credit while I have tracked closely Labor Market weakness - and we have both warned Consumer Spending is slowing and Tariffs Raise Inflation.
“Ai Revolution” expectations along with loose monetary and fiscal policy are the reason for the season in the equity market’s advance relative to the stagflationary economic backdrop (rising prices, falling growth) that the Trump administration & loyalists want to deny & obscure.
I’ve written about this all the way off the April bottom:
ALL GAS, NO BRAKES meets ALL CUTS, NO INFLATION meets ALL BUYERS, NO SELLERS
Then I warned of August turbulence - even before the large job growth revisions that shocked markets July 3st, and two days before warning of volatility into both JULY 31st and post August OpEx the 15th into VIX expiry Wednesday the 20th.
This client post is from JUNE 3RD with VIX 14.58 target before market would see any signs of volatility. And these are the dates I gave - ALL WELL IN ADVANCE of recent shake-n-bake:
THAT WORKED!!