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TL;DR
Short RSP vs Long MAGS ?
🚰 Utilities and 🏠 Real Estate On the rebound?
Utilities and real estate attempting a rebound on momentum? That could be a little early. Remember in the past I have used QQQy and IWMy as a way to describe things likely to trend (QQQy) and likely to mean revert (IWMy). As you can see below ~35% of both sectors are triggering a T4 mean reversion trigger. This could be something to watch perhaps not in the next 1-2 weeks but moving forward, there are not many people that would play long bonds or bond proxies at the minute.
It could continue into OpEx but “the crash” is already happening. If you are a paid subscriber and are able to access the included spreadsheets you can see large swaths of all sectors are already down 10-15-20% over the month.
What if the crash is already happening and all we really have is the setup for hedge funds to chase and re-leverage?
Is the pain trade now a very concentrated rally into the end of the year?
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