Chip Strength Holds Up the Indices but Creates an Inflation Problem
Rotational action masked severe weakness as trading slowed.
Checking In on the Oscillator and Premarket Trading
The S&P Short Range Oscillator has shifted to a greater overbought, at 3.23% vs 2.73%.
Into the overbought I expanded my short index book (at 3:45 AM):
* $SPY $777.57
* $QQQ $735.09
Position: Short SPY (M), QQQ (S)
Your ETFs Are Making an AI Bet, Whether You Like it or Not
It’s not just tech concentration in the S&P 500; your value, dividend and international funds are also betting on AI.
Shorting Higher
I have been shorting on a scale higher today:
* ($SPY) $773.14
* ($QQQ) $725.21
Positions: Short SPY (M), QQQ (S)
Adding to Index Shorts
Added to index shorts at:
* SPY ($SPY) $772.91
* QQQ ($QQQ) $725.23
Positions: Short SPY M QQQ S
Early Morning Trading (4:20 a.m.)
Shorted more of the indexes:
* SPY ($SPY) $771.88
* QQQ ($QQQ) $711.72
Positions; Short SPY M QQQ S
Early Morning Trading (7:05 a.m.)
Adding to Index shorts:
* SPY ($SPY) $774.88
* QQQ ($QQQ) $724.25
Positions: Short SPY M QQQ S
Things I Did Today
Here are today’s things:
* Shorted more ($SPY) $774.32 and ($QQQ) $725.26
* New position: short Berkshire ($BRK.B) $532.63
* Added to ($MSOS) at $4.33
* Shorted more ($GRNY) $27.91
* Added to ($PEP) long at $137.84
* Shorted more ($JOET) $46.78
Positions: Long MSOS (VVL), PEP (S/M); Short SPY (M), QQQ (S), GRNY (M), JOET (S), BRK (VS).
Adding to Index Shorts
On the rally I added to my index shorts:
* ($SPY) $774.16
* ($QQQ) $724.22
Positions: Short SPY M QQQ S
Index Short Additions on S&P Short Range Oscillator Move
The S&P Short Range Oscillator moved into a further overbought at 3.41% vs. 2.93%.
I added to my Index shorts this morning (5:05 a.m.):
* SPY ($SPY) $774.51
* QQQ ($QQQ) $726.41
Positions: Short SPY M QQQ S