I Could Hear a Pin Drop
With trading, I always get a bit nervous when I can hear a pin drop. Yesterday at 2:30 pm ET I could hear a pin drop (the VIX was at 11.76 at the time). As of Thursday evening (the time this is being written) I can still hear the pin.
The market is now overbought and the past two days rally has been very typical bull market behavior as we have seen over and over again. The market will likely pullback/pause within a day or so and we’ll wait for the opportunity to re-enter on the long side.
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