MES1! SPY $370 has COVID, likely test 360, leaders are falling
SPY decidedly broken down from its channel to 370, the next stop is 360.
Large-cap and mega tech are all not well tape-wise. The market is a confidence game, and it is losing confidence. Not surprisingly considering we are entering a new uncertainty of tax policy, economic recovery, and the US coming out of the Covid as a significantly weakened global player.
A cheap hedge would be a put butterfly or Put spread of 370/360.
Large-cap and mega tech are all not well tape-wise. The market is a confidence game, and it is losing confidence. Not surprisingly considering we are entering a new uncertainty of tax policy, economic recovery, and the US coming out of the Covid as a significantly weakened global player.
A cheap hedge would be a put butterfly or Put spread of 370/360.