Do you agree? I think 290 is key for market makers to limit damage due to puts. They want VIX down to 30 on April 17th. This does not hurt them much. They must be smarting from the whooping in March.
On a separate track, I believe Wave 3 ended in Feb and we are now in a Wave 4. Both bears and bulls will be beaten to pulp. Market will want to go down but fed will keep pumping money into the zombie. Everyone is likely to be frustrated. Since Wave 4s are normally longer/stretched, there will be pain. I am thinking this push/pull between those that think a P/E of 30 is totally reasonable and those that think anything over 12 P/E is nuts.
It will be a challenging time to be trader.
On a separate track, I believe Wave 3 ended in Feb and we are now in a Wave 4. Both bears and bulls will be beaten to pulp. Market will want to go down but fed will keep pumping money into the zombie. Everyone is likely to be frustrated. Since Wave 4s are normally longer/stretched, there will be pain. I am thinking this push/pull between those that think a P/E of 30 is totally reasonable and those that think anything over 12 P/E is nuts.
It will be a challenging time to be trader.
Trade closed: target reached