Scouting the Tape #26 - July 26, 2026
(Unique) macro idea generation and (insightful) market thoughts.
Markets continue to be extremely rotational and choppy as volatility suppression remains the name of the game. Equities are weak and there isn’t a single major US index trading above its 20 day moving average. If we compare this price action to other recent distributive topping patterns, the rotational chop can last for weeks to months as policymakers do everything possible to kick the can and control things as best they can.
This week’s issue covers:
Next week’s market update call.
BTC update.
Volatility and options dynamics.
Russia and Ukraine.
Hurricane season.
Kick them while they’re down.
Asset allocation thoughts.
