Meta Strategy Trading Portfolio – Probability Map Update.
Sentiment is shifting!
There is nothing quite like a good rally to inspire a shift in overall market sentiment.
Even macro market commentary is becoming more nuanced: While an economic slowdown remains the consensus, more room is given to alternative scenarios about how this may play out in the stock market.
A big nothing-burger in economic news has implications for stocks when viewed through the lens of volatility:
Nothing means up.
Additionally, positioning by asset allocators follows swings in sentiment and both of these factors have plenty of room to run, before the see-saw tips to the other side.