Republic Insider: OXY, WBA, DLTR, HNRG, WDFC, and More
SubStack is a mess... so we're posting our Wednesday piece over at Republic.
Dear Fellow Expat:
Greetings from the earliest April humidity that I’ve felt in Florida for some time. This is not a good time. It’s more of a “melty” feeling on the Gulf Coast. As you know, I’m heading up to Baltimore, Maryland, for the summer to get a lot of this project formally built.
So, my wife is packing up… and I’m trying to navigate a negative Momentum event that has trailed most of April. As I’ve noted, it's important to keep track of the Relative Strength Index and the Money Flow Index on the S&P 500 SPDR ETF.
When both metrics hit overbought, it’s typically a good time to sell spreads on stocks you want to own - if only for a short period.
I remain bearish - as this is another Bull Trap in the making, with the S&P 500 attempting to push back to its 50-day and 20-day moving average - but showing little luck in doing so - even in the face of low volume.
Volatility is rising… The dollar is strengthening… and we’re still boldly in the middle of earnings season. That’s why we’re …
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