#SPX #RTY #QQQ all ⏬ below 50dma, sell rallies - #timeforahedgingtrade / VIX ⬆️ / China 5.3% GDP a beat / U.S sales up, UST yields and USD ⬆️- macro

Yesterday was the first time since November 2nd that the S&P 500, Nasdaq, S&P 400 (mid-caps), and Russell 2000 (small-caps) all closed below their 50-day moving averages >>> which, as pointed out late last week, will force CTA's to start selling into the move lower for the 1st time this year... (SPX 4875 huge level and 4600 for the CTA's)

BofA survey reporting Fund Managers are net underweight Cash for the first time since 2011...

Middle East Latest: Military Chief of Staff Herzi Halevi : Israel has no choice but to respond to Iran’s drone and missile attack, even as European & US officials called for to avoid tit-for-tat response. Iran can avoid raising tensions while still guarding its “sovereignty and dignity,” China’s Wang Yi said

U.S retail sales up 0.7% higher than exp 0.4%, easy financial conditions boost infl and growth...>> 10y UST 4.63% now, UST 30s back above 4.75!, that is last Nov dreaded QRA territory... reinforcing our long held view #HIGHFORLONGER

Saxo : Amid AI and obesity drug excitement, equities see varied prospects: neutral on overvalued US stocks, negative on Japan due to JPY risks, positive on Europe. European defence stocks gain appeal

Higher UST 10y yields, above previously mentioned key 4.35% area, will increase 'risk' to at least part for the equity world.."Aggressive fiscal spending may ultimately keep the Fed from cutting rates to levels that will benefit small businesses...The bottom line is that no landing may be good for growth but challenging for equity valuations if rates push higher:" MS's Mike Wilson

Goldman warns that long-end rates may continue to rise as inflationary pressures reignite, and Hedge Funds are now the least long Energy stocks in AT LEAST 5 years according to Goldman Sachs

CFTC - Hedge Funds have built the largest long position in the MXN Peso in 13mos

Gold is back — and it has a message for us - The precious metal’s surge may herald a whole new world

There is "no urgency" to cut U.S. interest rates, Mary Daly, the president of the San Francisco Federal Reserve Bank, said on Monday, with the economy and labor market strong, and inflation still above the Fed's target of 2%

China’s economy grew 5.3% in the first quarter, beating expectations