In today’s briefing:
- NDX Short Conviction
NDX Short Conviction
- NDX was our top US short bet from 13,750/500. NDX below 13,000 is a risk off pivot for the global cycle. Conviction call to build NDX short on strength.
- NDX 13k will now act as resistance with 12,500 and 12,100 downside targets. SPX reaction rise due Monday with resistance at 4,130/70.
- Risk cycle peak rolled a bit early (before late August) sold weaker markets early (NDX, DAX, Taiwan, HK, Korea).
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