While everyone else spent September waiting for the Fed to be a sell the news event, I told you to expect chop into Wednesday, a wobble on the dots, then re-acceleration. The wobble came. The re-acceleration came. The same people who called 6,300 a ceiling are now praying 6,700 is.
For four months I’ve said disbelief is the fuel, mechanics > narratives, systematics + neutral positioning = right-tail. It’s played out level by level, from 5,600 to 6,600.
I’m not just going to keep banging the same drum this week. Because for the first time since May, markets are flashing something different to me.