I have entered short S&P again today to look for more weakness. This selloff is not over. We got the dovish Fed anticipatory rally and while short term Treasuries liked the dovish Fed, the stock market yawned. Usually you get a kneejerk reaction higher with such a dovish Fed but not this time. The sellers have taken over. They are driving this bus. And they are hell bent on taking it over a cliff, albeit a small one.
S&P 2040 is definitely in play over the coming days. I would look to cover shorts in that area.
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