Non- Farm Payroll Front Run

120
AAII Bullish sentiment Indicator @ All Time Highs.

ROC irrational optimism abounds - while sentiment remains
extremely negative @ 38%.

Housing Prices remain in an extraordinary Bubble with the 10yr
approaching 1% from YCC.

The ES SPY SPX Trend SLOPE is increasing.

USDX appears to be supportive ~ 92. A weak US DX will shove
assets higher within the Negative DX Trend.

A clear structure of the resumption of Down Trend as the Long
DX Trade which Specs chased is failing.

FX Pairs have clear bias to Higher DX, outsized, but not extreme.

Technical Structures across FX remain DX Bearish.

Yields are telling us Equities would move higher and yet the expectations
for the move higher was not met.

_________________________________________________________________

*** Divergences continue to expand to Negative Extremes.

NFP will be front run, Claims have been declining.

August 6th may provide the Catalyst for Bulls, then again Delta is
beginning to show large gains in New Cases among the Vaccinated.

The Market remains extreme, Caution warranted.

We remain Neutral into NFP.

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