Things are getting more tricky again on the equities side. If you followed along in the comment section during yesterday’s session then you know that I took out a long position courtesy of our famed Zero indicator, which stepped up the occasion and cut through all the noise as usual. This morning the main question for me was whether to hold long or to exit and consider taking out a short position.
MILLENNIAL TRIGGER WARNING: if you happen to be permabear then please top reading and immediately proceed to your safe space or nearest sensory deprivation chamber. For you are most definitely not going to like this post as it contains unpixeled bullish imagery as well as politically incorrect discourse. For everyone else: Our millimeter wave array in the Atacama desert has received a mysterious signal and expert consensus at this time points toward a VIX Buy Signal.
And not in a good way, I may add. I just checked the event log for the remainder of this week and it looks rather petrifying: Starting tomorrow one market moving event after the other, and given the current frailty in equities the potential for continued hilarity can not be ignored. FYI – I didn’t include the core consumption expenditures report today as that one will already be priced in by the time you read this.
Let’s not beat about the bush and call what happened during yesterday’s session as what it represents: a possible game changer. I’ve slipped in that weasly adjective as nothing in the world of trading is ever guaranteed.
However that said: Unless some miracle occurs today and the bulls drive the E-Mini back > 2750 the gist pretty much is up for the foreseeable future. Let me how you where it all went horribly wrong: