Sentiment Jul 23
Intermarket correlations:
- Middle East conflict is over
- Now watch yields, trade war is back
- JGB yields new high
- Copper spike 10%, good for stocks?
DG gamma negative again
CPCE very complacent -> liquidity breaks
Dow above Dec low
NAAIM 99 -> 86
NDXA50 and 20 both bearish
NYMO near 0
VIX no new low
Seasonality - July best month in Q3
Conclusion: not too bearish right now