Six weeks.
Same call.
Breadth red.
Structure broken.
Posture defensive.
Monday gave us a ray of light — breadth briefly cleared the 5-day. The hopium crowd came alive.
I wasn’t convinced. The best-looking charts in the market were still the inverse ETFs. $SPXS. $SOXS. $TZA. $LABD. When the best setups are bets against the market, that tells you everything.
By midweek it was confirmed. Stocks respecting resistance. Can’t buy the breakouts. Can’t short the breakdowns. Choppy, broken tape.
Where do we go from here?
The market is going to trade, it will go up and down. But as of today, this is not the type of market where you want to force the action. Things will change, and for me, it will start with a breadth thrust.
