BMO Strategist Finds Market Signs That "Only Develop Ahead Of Major Corrections"_老虎社区_美港股上老虎

BMO Strategist Finds Market Signs That "Only Develop Ahead Of Major Corrections"

zerohedge2021-03-17

As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as ...

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cc_goh
·2021-03-18
.....
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Muan
·2021-03-18
Noted
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Derrickhodl
·2021-03-17
Like and comment!
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- schipperde:
  can comment back?
  2021-03-18
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xConspire
·2021-03-17
like and comment thanks
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- Joker_Smile:
  done
  2021-03-18
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- Joker_Smile:
  reply to comment. thanks
  2021-03-18
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Booksman
·2021-03-17
[龇牙]
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oneplus374
·2021-03-17
nice analysis!pls like and comment!
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- Joker_Smile:
  commented. pls reply to my comment
  2021-03-18
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As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.  4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. 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As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-17 23:01\n\n</h4>\n</header>\n<article>\nAs BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181609754","content_text":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&P/TSX Composite and 4177 for the S&P 500.\"Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...... such as copper, semiconductors, South Korean stock market...... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"While he notes that it is possible that these “canaries in the coalmine” catch up to the S&P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.  4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":324575797,"gmtCreate":1616021910319,"gmtModify":1703496391400,"author":{"id":"3567122626731680","authorId":"3567122626731680","name":"Muan","avatar":"https://static.tigerbbs.com/e57898e50017c4ba74bca13a29623eab","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3567122626731680","idStr":"3567122626731680"},"htmlText":"Noted","listText":"Noted","text":"Noted","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324575797","repostId":1181609754,"repostType":4,"repost":{"id":"1181609754","kind":"news","pubTimestamp":1615993305,"share":"https://www.laohu8.com/m/news/1181609754?lang=zh_CN&edition=full","pubTime":"2021-03-17 23:01","market":"us","language":"en","title":"BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181609754","media":"zerohedge","summary":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a ","content":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-17 23:01\n\n</h4>\n</header>\n<article>\nAs BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181609754","content_text":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&P/TSX Composite and 4177 for the S&P 500.\"Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...... such as copper, semiconductors, South Korean stock market...... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"While he notes that it is possible that these “canaries in the coalmine” catch up to the S&P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.  4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":324221427,"gmtCreate":1615996392669,"gmtModify":1703496205250,"author":{"id":"3575765870316438","authorId":"3575765870316438","name":"Derrickhodl","avatar":"https://static.tigerbbs.com/2e1a91ff1e2c7029f0ea5d952a46bebb","vip":1,"crmLevel":1,"crmLevelSwitch":0,"authorIdStr":"3575765870316438","idStr":"3575765870316438"},"htmlText":"Like and comment!","listText":"Like and comment!","text":"Like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/324221427","repostId":1181609754,"repostType":4,"repost":{"id":"1181609754","kind":"news","pubTimestamp":1615993305,"share":"https://www.laohu8.com/m/news/1181609754?lang=zh_CN&edition=full","pubTime":"2021-03-17 23:01","market":"us","language":"en","title":"BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181609754","media":"zerohedge","summary":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a ","content":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-17 23:01\n\n</h4>\n</header>\n<article>\nAs BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181609754","content_text":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&P/TSX Composite and 4177 for the S&P 500.\"Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...... such as copper, semiconductors, South Korean stock market...... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"While he notes that it is possible that these “canaries in the coalmine” catch up to the S&P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.  4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3821110,"gmtCreate":1616025462447,"gmtModify":1635752948523,"authorId":3575256482663287,"author":{"id":3575256482663287,"idStr":"3575256482663287","authorId":3575256482663287,"name":"schipperde","avatar":"https://static.tigerbbs.com/2a4e4121277bf6de1807fa76d4c1d390","vip":1,"crmLevel":12,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":324221427,"type":1,"supId":0,"prevId":0,"content":"can comment back?","text":"can comment back?","html":"can comment back?"}],"langContent":"EN"},{"id":324286802,"gmtCreate":1615994886106,"gmtModify":1703496177632,"author":{"id":"3574816012215023","authorId":"3574816012215023","name":"xConspire","avatar":"https://static.tigerbbs.com/72bfc09315801b697aa03666ad720218","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3574816012215023","idStr":"3574816012215023"},"htmlText":"like and comment thanks","listText":"like and comment thanks","text":"like and comment thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":2,"repostSize":0,"link":"https://laohu8.com/post/324286802","repostId":1181609754,"repostType":4,"repost":{"id":"1181609754","kind":"news","pubTimestamp":1615993305,"share":"https://www.laohu8.com/m/news/1181609754?lang=zh_CN&edition=full","pubTime":"2021-03-17 23:01","market":"us","language":"en","title":"BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181609754","media":"zerohedge","summary":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a ","content":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-17 23:01\n\n</h4>\n</header>\n<article>\nAs BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181609754","content_text":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&P/TSX Composite and 4177 for the S&P 500.\"Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...... such as copper, semiconductors, South Korean stock market...... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"While he notes that it is possible that these “canaries in the coalmine” catch up to the S&P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.  4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3820918,"gmtCreate":1616024212708,"gmtModify":1635752963608,"authorId":3574572092080891,"author":{"id":3574572092080891,"idStr":"3574572092080891","authorId":3574572092080891,"name":"Joker_Smile","avatar":"https://static.tigerbbs.com/fb5bf41aabce75edc01766ad80e2bf49","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":324286802,"type":1,"supId":0,"prevId":0,"content":"done","text":"done","html":"done"},{"id":3820937,"gmtCreate":1616024356529,"gmtModify":1635752962129,"authorId":3574572092080891,"author":{"id":3574572092080891,"idStr":"3574572092080891","authorId":3574572092080891,"name":"Joker_Smile","avatar":"https://static.tigerbbs.com/fb5bf41aabce75edc01766ad80e2bf49","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":324286802,"type":1,"supId":3820918,"prevId":0,"content":"reply to comment. thanks","text":"reply to comment. thanks","html":"reply to comment. thanks"}],"langContent":"EN"},{"id":324218699,"gmtCreate":1615994211111,"gmtModify":1703496161335,"author":{"id":"3579036207812229","authorId":"3579036207812229","name":"Booksman","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3579036207812229","idStr":"3579036207812229"},"htmlText":"[龇牙]","listText":"[龇牙]","text":"[龇牙]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/324218699","repostId":1181609754,"repostType":4,"repost":{"id":"1181609754","kind":"news","pubTimestamp":1615993305,"share":"https://www.laohu8.com/m/news/1181609754?lang=zh_CN&edition=full","pubTime":"2021-03-17 23:01","market":"us","language":"en","title":"BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181609754","media":"zerohedge","summary":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a ","content":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-17 23:01\n\n</h4>\n</header>\n<article>\nAs BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181609754","content_text":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&P/TSX Composite and 4177 for the S&P 500.\"Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...... such as copper, semiconductors, South Korean stock market...... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"While he notes that it is possible that these “canaries in the coalmine” catch up to the S&P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.  4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":324234336,"gmtCreate":1615993854725,"gmtModify":1703496152823,"author":{"id":"3573639773544520","authorId":"3573639773544520","name":"oneplus374","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":11,"crmLevelSwitch":0,"authorIdStr":"3573639773544520","idStr":"3573639773544520"},"htmlText":"nice analysis!pls like and comment!","listText":"nice analysis!pls like and comment!","text":"nice analysis!pls like and comment!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/324234336","repostId":1181609754,"repostType":4,"repost":{"id":"1181609754","kind":"news","pubTimestamp":1615993305,"share":"https://www.laohu8.com/m/news/1181609754?lang=zh_CN&edition=full","pubTime":"2021-03-17 23:01","market":"us","language":"en","title":"BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1181609754","media":"zerohedge","summary":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a ","content":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>BMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBMO Strategist Finds Market Signs That \"Only Develop Ahead Of Major Corrections\"<blockquote>BMO策略师发现市场迹象“仅在重大调整之前发展”</blockquote>\n</h2>\n<h4 class=\"meta\">\n\nzerohedge2021-03-17 23:01\n\n</h4>\n</header>\n<article>\nAs BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.<blockquote>正如BMO首席技术员Russ Visch在其最新的每日行动报告中所写，昨天基本上没有发生什么事件，因为主要股指在成交量极其清淡的一天相对没有变化，因为交易员在今天的FOMC公告之前袖手旁观。</blockquote><img src=\"https://static.tigerbbs.com/cbc70f744d1296f1006bf4db35373ccd\" tg-width=\"500\" tg-height=\"321\" referrerpolicy=\"no-referrer\">This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&amp;P/TSX Composite and 4177 for the S&amp;P 500.\"<blockquote>这意味着Visch对北美股市的短期择时模型没有变化，该模型基本上仍然是积极的，“这表明偏见应该仍然是上行的，S&amp;P/TSX综合指数的目标为19,228点，标普500的目标为4177点。”</blockquote>Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&amp;P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...<blockquote>然而，BMO图表分析师在一个更不祥的观察中警告说，一个值得关注的问题是“标普500最近的突破并没有得到我们任何基于市场的经济活动指标的周期性新高的证实”...</blockquote><img src=\"https://static.tigerbbs.com/fcf824933387b59dfe757dfb9090e417\" tg-width=\"500\" tg-height=\"313\" referrerpolicy=\"no-referrer\">... such as copper, semiconductors, South Korean stock market...<blockquote>...如铜、半导体、韩国股市……</blockquote><img src=\"https://static.tigerbbs.com/40b4c91e29c862df3a4a46d64b74acdf\" tg-width=\"500\" tg-height=\"317\" referrerpolicy=\"no-referrer\">... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"<blockquote>...或企业/国债信用利差和CDS指数等债券市场情绪指标。”</blockquote><img src=\"https://static.tigerbbs.com/623756670b155dc5a21bbfc98a020828\" tg-width=\"500\" tg-height=\"320\" referrerpolicy=\"no-referrer\">While he notes that it is possible that these “canaries in the coalmine” catch up to the S&amp;P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"<blockquote>虽然他指出，一旦我们度过本周的四年期，这些“煤矿里的金丝雀”就有可能赶上标普500，“这些是通常只在重大调整之前出现的警告信号。”</blockquote>To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"<blockquote>在这一点上，Visch指出，他已经写过关于2021年股市可能出现“软中间”的文章，“这些指标的持续恶化将增加这种情况成为现实的可能性。”</blockquote>And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"<blockquote>虽然BMO看到了中期的痛苦，但短期内（即今天）呢？正如SpotGamma在其早间报告中所写，虽然FOMC始终存在引发波动的可能性，但“我们给市场带来了优势”，即“均值回复”和今天的初步走势，并将3900-4000点的主要伽马区间维持到周五收盘。”</blockquote>Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.&nbsp; 4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.<blockquote>我们的模型显示今天最大移动77个基点，关键水平显示为3950、3975.4000仍然是看涨期权墙和周五收盘前的主要阻力。或者，如果鲍威尔扰乱市场，我们会寻找3900点支撑。</blockquote>But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"<blockquote>不过，尽管SG对今天的FOMC会议持乐观态度，但他们对周五的四巫OPEX更加紧张：鉴于SPX gamma的持续下跌（它不再充当锚，因此更有可能出现更大的波动），SpotGamma指出，它经常谈论“市场波动性如何下降到较大的月度OPEX，如下图所示。这些图表显示了市场的日内范围，您可以看到市场“压缩”到OPEX（蓝色箭头）中，即日内交易范围盘整。”</blockquote><img src=\"https://static.tigerbbs.com/5317bfa2b721e1ed8b3728ff43d6876c\" tg-width=\"500\" tg-height=\"166\" referrerpolicy=\"no-referrer\"><blockquote></blockquote>\n<div class=\"bt-text\">\n\n\n 来源：<a href=\"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections\">zerohedge</a>\n为提升您的阅读体验，我们对本页面进行了排版优化\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"source_url":"https://www.zerohedge.com/markets/bmo-strategist-finds-market-signs-only-develop-ahead-major-corrections","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1181609754","content_text":"As BMO chief technician Russ Visch writes in his latest Daily Action Report, yesterday was mostly a non-event as the major averages were relatively unchanged on an extremely light volume day as traders sat on their hands ahead of today’s FOMC announcement.This means that there has been no change to Visch's short-term timing model for North American equities which remains mostly positive, \"which suggests bias should remain the upside here with targets that measure to 19,228 for the S&P/TSX Composite and 4177 for the S&P 500.\"Yet in a more ominous observation, the BMO chartist cautions that one issue that bears watching is that \"the recent breakout in the S&P 500 was not confirmed by new cyclical highs in any of our market based measures of economic activity\"...... such as copper, semiconductors, South Korean stock market...... or bond market sentiment gauges such as corporate/treasury credit spreads and CDS indexes.\"While he notes that it is possible that these “canaries in the coalmine” catch up to the S&P 500 once we get past this week’s quad-expiry,\"these are the warning signs that typically only develop ahead of major corrections.\"To that point, Visch notes that he has written about the potential for a “squishy middle” for equities in 2021, \"and continued deterioration in these gauges would increase the odds of that becoming a reality.\"And while BMO sees pain in the medium-term what about shorter - i.e., today? As SpotGamma writes in its morning note, while the FOMC always contains the possibility of inducing volatility \"we give edge to markets “mean reverting” and initial move today, and holding the major gamma range of 3900-4000 into Fridays close.\"Our models suggest a max move of 77bps today with key levels showing as 3950, 3975.  4000 remains the Call Wall and major resistance into Fridays close. Alternatively should Powell upset markets, we’d look for 3900 support.But while SG is sanguine about today's FOMC meeting, they are somewhat more nervous about Friday's quad-witch opex: in light of the continued reduction in SPX gamma (which no longer acts as an anchor and thus makes greater volatility more likely), SpotGamma notes that it often talks \"about how market volatility declines into the large monthly OPEX, and that is portrayed in the graphs below. These charts show the intraday range for markets and you can see that into OPEX (blue arrows) the market “compresses”, i.e. the intraday trading range consolidates.\"","news_type":1,"symbols_score_info":{}},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":3820929,"gmtCreate":1616024312313,"gmtModify":1635752962882,"authorId":3574572092080891,"author":{"id":3574572092080891,"idStr":"3574572092080891","authorId":3574572092080891,"name":"Joker_Smile","avatar":"https://static.tigerbbs.com/fb5bf41aabce75edc01766ad80e2bf49","vip":1,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":324234336,"type":1,"supId":0,"prevId":0,"content":"commented.&nbsp; pls reply to my comment","text":"commented.&nbsp; pls reply to my comment","html":"commented.&nbsp; pls reply to my comment"}],"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":20,"commentSize":6,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"isCrawlerRequest":true}