Bond yields pushing to the highest close of the year despite Treasury's buyback intervention says the market isn't buying the relief story. Aion's data has SPX seeing a 790+ print in September, though we could still get a flush toward 760 if 765 breaks first. Historical dealer positioning data backs the bullish lean too, every prior instance of this same sparse setup was up meaningfully 2-3 months out. Buy the dip if you see weakness next week, get more cautious once October rolls around.
Aggregated and distilled by Two Sentence Traders. Not financial advice.