To The Moon

For today's trading, I think there is no need to say anything more, big put. October market dovish rally table was lifted by Powell, spx to measure the former low, first see 3600.

• November FOMC: We're in for a long rate hike cycle
• Thursday's only divergence: open lower, go higher or go lower?

Yesterday the market is very dangerous, first up and then down. The key is that the statement is not enough information, there is room for interpretation, the doves saw a lower rate hike and rushed in, and then directly smothered.

Before that some traders had foreseen the duration, but they thought it was the focus of December's rate talk and not in the scope of November's discussion, which was still focused on how much to raise rates next month. I also think December then turn will be more moderate market pace, smooth transition to the end of the year, and then a turn of duration next year to start the hawkish market trend.

But in fact, this is also a very dovish view, that is, short-term to give the market dovish hope. I suspect that Powell may not want the market to the Fed's anti-inflationary route and attitude to any other ideas, so this FOMC in reference to the slowdown at the same time incidentally also put the topic of duration on the table.

You can refer to these words above to revise your previous trading path, or check retroactively if the previously referenced trading strategy is dovish-based.

I am more curious about the market performance of tomorrow's NFP and next week's CPI, but I think a mild data decline may not make any sense, and even if the year-over-year data moderates, the odds are that it will be a high open and a low close, and may bottom out again next week.

Always keep in mind Powell's hawkish statement: avoid insufficient tightening and premature easing.

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