POSITION: Short SPY
I’m not short everything in global macro, but I am short the SPY. The short position is -2.73% against me. Don’t I feel like a genius.
Selloffs in the US stock market in December have been few and far in between. While it’s incredible, it doesn’t mean it’s not a historical fact. The SP500 hasn’t had 2 consecutive down days yet for the entire month. Today’s intraday selloff has been like every other selloff in December – fleeting.
Having just snapped my Achilles tendon, I can assure you that when the music stops, it can stop abruptly. For now, this is a stock market that the Big Broker artist formerly known as Chuck Prince would have loved. When the music is playing that is…
My immediate term TRADE lines of support and resistance are now 1254 (which has held today) and 1265, respectively.
Keith R. McCullough
Chief Executive Officer