ARKK's either bottoming or breaking down, FOMC decides: $ARKK is tracing what could read as an inverse head and shoulders, or it's just a plain breakdown depending who you ask. FOMC is probably the tie-breaker here. Leaning toward the breakdown read until proven otherwise, not chasing the bounce case yet.
Taco setup brewing again, QQQ may fake out below June lows: Bond yields running hot has us bracing for another taco, a Trump-driven fake-out. Friday's bounce already got faded, so a gap-up into FOMC getting faded too wouldn't shock anyone. $QQQ could see a false breakdown below the June lows before this resolves, don't take a break below there at face value.
Interceptor shortage looks like the market's next taco: Reports of a US interceptor stockpile shortage read like the closest thing to a de-escalation taco we've got right now. If it holds, expect a positive reaction tomorrow with VIX and oil both coming in. FOMC's still the wildcard, but no dot plot and a light statement means Warsh likely threads a neutral needle rather than rocking the boat.
Aggregated and distilled by Two Sentence Traders. Not financial advice.