Forced Reweighting in EWY by Month-End Could Send Ripples Through Semiconductor Issues

Arguably, there is not much evidence of trend change for Equities despite the sharp early selloff, which brought $SPX, $QQQ, and $SMH down to near initial trendline support. Incoming Fed Chair Warsh's confirmation served as an intra-day bullish turning point, and I am still inclined to expect a push back to new highs, given no official trend break. On the macro side, long rates have begun to turn higher as Core CPI ...

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