If the market is all leaning one way that increases the risk that the boat tips over
Harry at Livesquawk has just made a great point. He says that market players will now all be pointing at September...until the next bad data point comes out
It's a good point on the basis that the market is now set up for good data. If we get it it won't be a shock. That may be a subtle shift but it's a potentially a big one
For the last few weeks the market wanted to see good data to confirm and hone expectations. Now they reckon they've got it they've rushed to the other side of the boat leaving them exposed to bad data, that could undo those expectations
Sentiment is a very big part of trading and knowing the market's view can mean you know where the big risks lie
Who knows, maybe a couple of bad data points will knock September back to October
H/T as always for fantastic work @victorleonardib
