$SPY
I’ll say it again:
NOT WORTH SHORTING UNTIL THE STRAIT OPENS.
Trump doesn’t care what anyone thinks of his lying. He’ll lie about his lies, then lie about those. Markets are pricing in the circus, not the policy. Wait for real risk to show up before you get aggressive on the short side.
Patience > ego in this tape.
Last thing then I’m out tonight.
Here’s a good litmus test for you:
If the market had:
- Gone down for 6 weeks straight
- Daily RSI was at 28
- Had gone down 28% in 28 days
You’d be screaming “buy, buy, buy” right? I would.
However no one will ever use that as a reason to sell anything or even take some profits.
Just food for thought.
“The time to buy is when you don’t want to, so is the time to sell.”
When the SOXX starts to deviate from XLI it's a sure sign that the move is being driven by speculation, not fundamental strength
In recent years, this deviation marked a major top for stocks
Will this time be different?