Staying Bearish on SPY until there's a "cure" or vaccine for the virus. I expect numbers of cases to pop. FED cutting rates was more of a red flag than something to comfort markets. I expect Banks to have a lot more downside. Overall, I think we will see a lot more downside ahead. Puts Puts.
More Targets under the 2nd one, but this is a starting point.
More Targets under the 2nd one, but this is a starting point.
Comment:
Still Bearish. The FED and whales can pump all they want, it's more consolidation and healthier chart outlooks. The overall reality is that the virus is spreading and will keep spreading and we can't ignore the economic impacts. Market is still far overvalued. Give yourself adequate time on your option contracts, this will break down.
