Market always does what’s least expected. Who expected this rip after last 2 weeks of weakness. It went from super weak to super strong. There’s no inbetween
Tops take time. Rip your face off rallies are normal during these periods. We are just getting started.
This is a warning as to how spooked the markets will get with the next economic event that is not predicted or expected by wall streets finest. 'Rona knocked us down 40%. I won't be surprised with well over 25-35% on this next one. I changed my mind quickly about moving retirement accounts to cash. I decided that my strategy for that is to wait for a monthly bar on the ES to finally turn red enough to sway me to exit. Saving 20-40% on 6 figs + is a significant number. In the mean time, this is indeed getting toppy, but I think markets want to see that 4000 number hit first
I have about 70 % odds of 3920 by end of week at this point. Sloppy call as I'm a bit short on time. 3950 could easily happen. Remember: it's just numbers on a screen.