Crash Warning

The market finally has a psychological crash setup. Investors are pricing in a Fed pivot after the BoE intervention. Not much, but the talk is there. This is scaring away bears and bringing in bulls. This will reduce rally risk moving forward because bears will be scared of being caught in a pivot. It's a bit of a paradox, but the more people believe in the pivot, the more right they will be, but the more they believe it, the lower the SPX level at which it is announced.