This morning I wrote:
SPY is up 0.33% this morning, as of 9:54 am.
IWM is also up 0.50% this morning.
VIX is down 6.64% following its pop yesterday.
I don’t expect this to last. I believe this is a short squeeze that will reverse by 11-12 am today. At that point, the sell off will continue.
Consultation of the charts shows:
The selloff on SPY and IWM took place around 1:30 pm today, when Trump announced more tariffs on Chinese goods.
Damn I’m good. Or maybe I’m just lucky. But I was expecting a volatility event for a couple of weeks now, and it finally came.