Let the Dust Settle

If you are fighting a battle in the middle of a dust storm, you might want to LET THE DUST SETTLE before you make any serious decision. Do not risk taking a significant blow.

WAIT AND SEE

The damage from Trump's trade policies can last months or years. Without further clarity, it's impossible to tell what will happen next. We continue to be in "WAIT AND SEE" mode. Be patient, let the dust settle.

VIX warning

The VIX curling back to the upside is NOT A GOOD SIGN. Prolonged volatility suggests investors are seeing more risk stacking up.

Sooner than later, the market will be retesting the lows, and that's when we want to observe how Trump responds. Either way, WE NEED THE VIX TO HOLD BELOW 28.

Positives

1) At least, Credit spreads have calmed down. Peak Panic is over.

2) Bitcoin is gathering momentum and is likely to follow Gold.

3) Global Liquidity is surging as Central Banks panic into cutting and printing.

If Trump decides to reduce tariffs to any degree, we should see WIDE MARKET RELIEF. This would give Powell more clarity on easing......And trust me, the market wants Powell to ease.