This market is about to cool down and go low volume for a couple hours waiting for the FED.
There's a ton of stocks hitting upside targets, hitting retrace targets, and that have beautiful downward setups just waiting for a catalyst. That said, we haven't been able to get any downward setups to follow through since the Q3 selloff last year. Going aggressively short is extremely risky. Today is the perfect catalyst to send the market down. Will it? TBD. If it goes rippy from here, then we will officially be in blowoff move territory likely looking another month or two ahead before SHTF.
Watch bond yields. 10-year below 4.18% could start an aggressive move down. Bond yields in 2007 started selling hard in June. We never got the double top this time around, but we don't necessarily need it.
Be careful getting aggressive each way. This is a risky market.
“Give it hell Heinekandle, I’m enjoying it.”
- Farmer @ Johnsongrass, TX
“No secure borders, no alpha military, no energy independence, no leadership and most of all no mean tweets - this is the worst trade I’ve ever witnessed in my lifetime. ***Put that quote in your quote/signature section HeinendKandle*** LOL!”
- also Farmer @ Johnsongrass, TX (obviously in a worse mood)