Recalibration: Can Powell Pull Off Soft Landing?

The market gives me the vibe of “I don’t care, wait until who gets into White House, what congress looks like, then I will see (or panic).” For now, music is on. Every blip proves to be an opportunity to rotate/buy. The market is still having a post FOMC drifting effect.

The week kicked off on China stimulus hope as PBoC cuts rate, fueling speculation of officials are ramping up effort to revive with a planed Tuesday press briefing. SPX future was up more than 20 pts in earlier Asian hours.

Then the Markets tanked on a cautious note as weak economic data spurred ECB rate cuts speculation. Euro Zone/ Germany /France September PMIs Flash were all under 50, entering technical recession territory. SPX slowly rebounded throughout US early morning session. As long as 5600 holds, gamma exposure is saying: BTFD.

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