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Originally Posted by Vanity
Went full short today in the morning. Staying close to the exits if things go up, but USD is rebounding hard, so is bond market. After this next correction to around 1215-1265, I will probably be going full long for a while. But we shall see what market conditions are like at those times.
Update: Rowr and Sam, I want you guys to pay attention to the USD index. Currently sitting at 82.82 after todays enormous move upwards. If it breaks and holds 83.00, the USD will have ended its month-long consolidation from the June 1st highs and will be resuming a bullish upwards movement. Should it break 83, it will soar well beyond 86.00 and make a new high for the year (this is, btw, extremely horrible for earnings season about to come out). The last time the USD index did this, it soared non-stop from 77 to 83.5, no pause. This, in addition to the markets now being overbought, would make it ripe for a correction.
Pay attention to the VIX charts too. VIX made a bottom at 13.66, then a subsequent higher bottom, and now another higher bottom. While I believe the major crash scenario has been delayed for a while, a short term abrupt correction is on the table. Afterwards, reasoning that the correction is severe enough, stimulus would (if it materialzed) take us to new highs. We shall see! Happy trading.
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Very cool
I've been looking at the same thing, looks like we're approaching 83 but not enough momentum yet hopefully we shall break through today
Edit: looks like we made it through!!!