....S&P500 does not need to decline, for base metals to be bashed badly, as China industrial production underwhelmed at 5.6% vs 6.2% est.
....so you see people flocking to banks, making them even more overvalued.
....equity players are running out of options it appears but they must play somewhere, gamblers must always find a 'house' to play in.
If $SPX remains below 5447, it is strongly set up for a bearish reversal. If so, it should decline to 5375 with potential to see its bounces get sold for multiple weeks. However, if it breaks above 5447, it can extend to 5462-5520.
https://x.com/TriggerTrades/status/1802511776866533540
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....S&P500 does not need to decline, for base metals to be...
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