1) #VAXTRO Announced.
2) Squeeze Index Shows Similar recovery action to 2025. See picture.
- compare 2025 to 2026, similar response
- $SPY just reached a level where everyone has been squeezed.
- key neutrality level using ES E-mini is ES = $7023
- staying above this level means there are new buyers stepping in. losing this level can open pandora's box.
- I favor the corrective action here as the rise was V-shaped and did not build real institutional accumulation near the bottom, I call that V-leg a cotton candy leg, it is fragile. This shows that the 3/31 low was not the structural low.
$RSP and the #Dow are not at new highs.
Apart from this, the Dow Jones 90-year old trendline shows that the logarithmic price sits 5.2% above trend. In 2022, we sat at 5.1% above trend for a short while before a 22% haircut aka bear market. The bulls are walking over eggshells at these levels.
Today, the market showed additional divergence points, $SPY up while $DXY up, decoupled, at some point #OIL was up 5% and SPY cared less, TIP-adjusted funds went down, SPY ignored that signal too. A sense of irrational exuberance is present.
Tonight, I also announced the next VAXTRO, it will be in April. Exact date disclosed to members only here:
https://t.co/Qy1EFOH9vh
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