SPY - Monthly Perspective

We anticipate further downside after the July 6th to 8th TIme period completes.

There is one caveat, should Q2 EOS be squeezed, we expect a downside into the
October to December TF of greater magnitude.

In taking the opposing view, there remains an unusual probability the SPY can swing
higher on a dramatic squeeze to relieve conditions that are extreme on shorter
duration TF's.

Unfortunately, the larger TFs dominate the Trend, for now, Counter-trends continue
to weaken BUT cannot be ruled out for dramatic effect.

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The "Others" enjoy sadistic Dramas.

Price could easily squeeze above the Recents Highs were the RIggers to back off the
Sell into EPS.

Objectivity matters, this is simply the opposing viewpoint from a criminal mindset.

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We know full well where we are going, how we get there, another matter.

I am in no shape or form a Buyer for anything other than a trade.

We'll need to see the FED make some drastic changes to their policies.

At present, the Fed Funds Futures continues to extend and pretend out the
curve making incremental adjustments to desired Policy of 3.0%+.

Disinflation, serves only one purpose, its own, it is the current Media Narrative.

Excess Reserves @ the FED remain extreme and with a Daily payout totaling 250M+,
they are safely on the sidelines with no desire to return.