Toddo on TV: Lehman's Long Road
Markets, movers and more.
Back in the saddle, Todd's watching the Street as the Street watches lower levels on the S&P, which is a technical negative. The founding Minyan talks fixed income action and the odds of a rate hike being priced into the marketplace, and highlights this related Buzz post by Professor Sedacca.
Now, traditional trading is an assimilation of four primary metrics -- technicals, fundamentals, structural forces and psychology -- but seeing as the Federal Reserve has taken such a proactive stance, Toddo notes that the discipline's been boiled down to a game of chicken, with cumulative structural imbalances on one side and an aggressive agenda on the other.
With that in mind, technical levels are more of a context than a catalyst with with to frame risk and the S&P at 1340-1350 is a pretty important line in the sand that must hold if there's any hope for a summer rally.
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