Wall Street almost always has some excuse that earnings aren’t great and they don’t care about forward guidance. The SandP 500 E-mini contract initially tried to move higher during trading on Thursday as we continue to see a lot of noisy behavior. There are a lot of problems out there just waiting to happen, so it’s no big surprise to see that we don’t have a seat. Also, the biggest problem this week has been that we’ve had almost no major macroeconomic announcements, so we’re just killing time, although it’s probably worth noting that we’re in an earnings season. . Advertisement Stock Markets Crash Again Buy Dips Now! Wall Street almost always has some excuse that the returns aren’t stellar and they don’t care about additional guidance. Most of it is liquidity and cheap money. There is no cheaper money, so it could be interesting to see how Wall Street comes up with a new story. The market has no real reason to go higher. Short term, I think you’re still looking at it through the lens of the rally fading because, frankly, it’s a market that has no real reason to go higher. That doesn’t necessarily mean it’s going to melt down, just that there’s nothing good out there for people to want to go out and risk their money. Also, bonds pay real income these days, so it goes against the idea of taking a risk with a single company. The strengthening of $ , was a real problem for the SandP 500 because it will almost certainly cause serious damage to the exports of major US companies, which of course are global. So the market should continue to look at the 50 day EMA just above the 3800 level, so I think it makes sense that this level remains the „market cap”. On the downside, however, the 3600 level is important as we have already bounced from there a few times. In the short term, I think we’ll veer off into that 200-point range, which is pretty typical of the SandP 500, as it waits for that next move to show itself and make a case for this trade.