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A Healthy Breather in a Quiet October, With Earnings Up Next
After the Nasdaq printed fresh all-time highs day after day, futures are finally pulling back this morning on an oil jump from Hormuz tanker attacks, a 30-year yield at 2002 highs, and an overnight Bitcoin flush that liquidated a pile of leveraged longs. I want to be clear that this is a healthy breather, the kind of thing you should welcome after a run like the one we just had. Some momentum needs to come out of the trade, and with earnings season kicking off next week, I am happy to sit on my hands and let the market digest.
This has been one of the quietest stretches I can remember for…
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