Good morning everyone, and congrats to everyone who caught last week’s monster trade in VXX for 48%! If you are still holding, consider booking some profits at these levels. Amazing job!!!
U.S. equity markets got absolutely destroyed on Thursday and Friday. The biggest two-day decline since early 2020 during the pandemic. The S&P 500 blew through our 5,500 support level and touched the support level below at 5,000. That is the level we need to stay above by the end of this month in order for the longer-term trend to remain intact. Let’s see if it holds.
Check out this week’s trade ideas.