➤ The sequels just keep coming...prices are still stuck in the narrowish support and resistance levels for the S&P500. This time ending right at the support level in contrast to the previous day. If you get the feeling some one is trying to shake you out, that's exactly what it looks like. That being said, a break to the downside would negate this theory.
➤ For the bullish case, I need to see the VIX contract and contract quickly, ideally back below 30. If it's sticky above 30 like the current state of inflation, we probably will see further downside.
➤ My current exposure is +60% composed of Nasdaq, STOXX50 and DAX. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: End of month window dressing please!
I had puts exp Jan. And then I saw the same thing here and sold my put just to safe that I’m not buying puts at lows until I see a bounce and rsi is above 100 on daily weekly.