I was chatting with my quant buddy Tony a week or so ago and he asked me what ‘MOMO’ meant, which kind of had me stumped. In my mind it was an abbreviation for ‘market momentum’ but obviously this doesn’t make any sense. I was trying to figure out where and how I had absorbed that term and couldn’t figure it out. Nevertheless I have used ‘momo’ for many years now without thinking about it, which goes to show that we all fall prey to intrinsic habits and more often than not aren’t even aware of it.
Equity index futures managed to hold the line without much drama over the long weekend, and all things being equal this would be a good omen for the remainder of this week. Unfortunately the bulls are now facing a bit of headwind for week #8 statistically speaking.
I want to be on record by stating that any and all claims insinuating that a genetic Krampus/Bear clone may have escaped our biotech laboratory are patently false and thus should be considered fake news. We here at Evil Speculator have made maximum security and strict biohazard procedures our top corporate mandate, which is exactly why we purchased a dozen refurbished Chinese thumbprint readers last year to secure our entire operation.
Let’s not beat about the bush and call what happened during yesterday’s session as what it represents: a possible game changer. I’ve slipped in that weasly adjective as nothing in the world of trading is ever guaranteed.
However that said: Unless some miracle occurs today and the bulls drive the E-Mini back > 2750 the gist pretty much is up for the foreseeable future. Let me how you where it all went horribly wrong: