Risk-On Returns After a Black Monday

Yesterday all U.S indices took a bit of a nose dive as investor concerns rose on the backs of a surge with Covid19 cases and the worrisome of the highly contagious Delta variant. Several other factors put a damper on equities yesterday which I outlined in my report yesterday (see related ideas below).

Today before the opening bell, S&P e-mini futures were on the rise which I believe helped to spark a FOMO mentality amongst retail traders. Since the opening bell, the VIX is down 10.8%.


My thoughts for today "fool me once, fool me twice, but 'll be damned if you fool me a third time"
With that said, I'm highly cautious of an equity sell right around the corner as we get closer to the next FOMC and Jackson Hole meeting.