If you believe that technical analysis has any prediction power at all (I highly doubt that it has in any other environment than highly speculative ones due to self-fulfilling prophecy) and you are net long the S&P500, then you might want to rethink.
- Very soon (possibly) testing broken trendline from march 2020 - Massive divergence on volume since trend broke (Volume follows VIX - not a good sign!) - Massive divergence on RSI - VIX at very low levels
In addition to this, the money flow indicator - usually a sound fundamental indicator - shows a serious divergence.
Add that to the macroeconomic picture and the pricing (much more important than the other factors I just stated), and it would be a rather compelling case for selling the broad U.S. stock market.
I got rid of my last long exposure to U.S. stocks now and loaded up on VIX futures (VIXY) throughout this week - currently holding 85% (!) of my portfolio in such contracts-
DYOR. NFA.
I wish you all well! :)
Never take the word of others as a given - and never take advise from someone without skin in the game.
@Stocksgowhere, I know - I do not recommend anyone to take a similar position in terms om percentages. I trade the VIX, so thats why my position is this large ATM