The Bell always rings at the top !!! Eurodollar (USD deposits out of US) positioning and futures show again that we reached the top. Short S&P500 long bond futures and long QED1. That’s one of the really nice things of Tom Mclellan’s eurodollar indicator… We will see this year the first rate cut, but fed fund rate should rather be in the range of 1.25-1.5 % and NOT 2.5 ... But that's just what the market says....