Just a couple of quick thoughts this morning;
- China trade data overnight doesn’t show a great macro picture. This will matter again in time…its simply a question of when
- In the meantime stocks have thus far enjoyed an incredibly boring week with a tight trading range. This will ultimately resolve in either a sharp move up or down….or a sharp move up that quickly corrects and leaves nasty daily or weekly candles behind.
- The chart below shows the current trading wedge clearly…its a 5 day 15 minute chart of the S&P 500
- We remain long some SPY for bucket 2 for now
- We are looking at a potential short squeeze trade in SKUL…keep you updated
