The S&P 500 is tracking along the lower end of the redzone forecast range of the alternative futures chart, which assumes investors are looking forward toward 2020-Q4 in setting today's stock prices, and which we suspect also indicates that investors are somewhat backing off the expectation the Fed may institute negative interest rates by that time.
Since the increased potential for negative rates may account for the unprecedented "upside-down" character of how stock prices have been behaving over the last several weeks, we checked in with the CME Group's FedWatch tool to see what it