Pre-Fed Thoughts - Market Update 3/20/2024

Position changes:

Reduced energy longs by 50%, down to a small core tracking position in short-term until fixed income/beta gets more clear after fed.

Lets get the elephant out of the room first: Bitcoin. BTC looks slightly vulnerable if it can continue to move down below the 62000 area, which would trigger a trend target down to the 50k area. That would …