Pre-Open Commentary | July 18, 24

Condensed Insight Before the Bell.

Key takeways:

Yesterday after close we got some new things popped up on positioning. Double red signal. Below you can see it on a chart and couple years of history. Macro is still bullish but overall other metrics (positioning) make a bearish situation. This + yesterday’s dealers bearish window re-confirmed make me definietly more cautious about bullish stance.