It is my honest opinion that Friday was the blow off top/look above and fail everyone was waiting for.
I base this on a few things. Many people thought they called a a top, myself included, and got short.
Anyone with these positions got really squeezed and had to get out. I don't think that was new money entering the market as much as people with bad position paying for it. Friday had a rally to new high with some mean selling at the end. Just day traders taking profit, sure. Or the start of the real down move. Don't get your face ripped off. Good luck
8% haircut by June 21 is my sense, it's more of a sideways churn to get things to finally roll over or fizzle a bit. Too much free money getting stuffed into every sector imaginable, a low vol correction will crush the options market. Too bad you can't trade the MACD, because there's excellent wave riding there in of itself, unfortunately not in the underlying.
If you short anything let it be the Cboe. Together, that exchange and it's contract-paying customers can collectively blame Powell for this EVERYTHING RALLY.
rowanharley01
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How much money are you losing shorting SPY?
strawserpbiggskc61
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This is impossible
EBITDAtiger
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couldn't agree more, there's a lot of indicators that seem to be flashing warning signals. including the % of S&P stocks trading above their 200-day MA
If you short anything let it be the Cboe. Together, that exchange and it's contract-paying customers can collectively blame Powell for this EVERYTHING RALLY.