SPX Short-term moves.
TL;DR
Short term moves are extended.
This is not me telling people to sell everything!!!
Toady I will be closing my leveraged SPX trade.
Why?
Because it worked and because I can.
When we were at max nonsense this wiggly line went green so I bought. The position was highly leveraged but it was less than 2% of my total account.
When we look at the hourly measures we are very extended.
Staying on hourly data these measures of trend we use are extremely compressed. It will not take much to break.
Why taking the leverage down? Volatility has moved an insane amount over a short period of time. Leveraged funds etc need to reset internally I am not clever enough to play that game so I will take my win and wait for the next chance to put that leverage to work.
The green line at the top of the page is green, if/until it goes red I wont make any changes to index trades that are unleveraged.
Have a good day.
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