Risk spreads have been doing a small correction.
With the Long end of the curve (30 Yr. Bonds) short-term extremely oversold
as it approaches its 50 Qtr MA
I’M defensive Equity Indices
I have Bull VXX spreads out into the first week of November.
I’ll be going over charts of concern in the room before the open.
Conclusion is that the Dow & S&P are extended from their mean after
a one year 8/1/17-8/1/18 vertical rally.
This weeks mid-week shuffle will signal if we can remain long-term vertical or
we have started a correction that the talking heads are all denying.
Brazil is bid after the weekend elections.
It’s time to be nimble.
No trade location/No trade!