Equity Storm Watch Is GREEN on the S&P 500 and GREEN on the Russell 2000
What? A down morning for the futures? Weren’t we told that stocks only go up? This is madness to see red across the board right now.
Well… there is reason for some caution. U.S. equity markets are coming off record highs.
Yesterday, we witnessed a very steep selloff at the end of the day, which wiped out daily gains. These inevitable selloffs remind day traders of the importance of using Bollinger Bands.
As you know, I’ve moved away from that madness to focus on longer-term opportunities and “selling” premiums to take advantage of the wild speculation in this market. Apple (AAPL) and Alphabet (GOOG) are both under pressure, but NVIDIA (NVDA) continues to scream higher. You’ll recall March has historically been a positive month for the markets, especially in election years. But seasonality has been wonky this year.
Our data feed suggests that we might be looking at a short-term top for now. We’re starting to see wea…
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