Quad 1-2, but I do not have a good read here!
Quad 1-2
Still, I am having difficulties reading this market.
Breadth is weak, IWM is weak as hell, ARKK is weak and the QQQs and SPY rally hard. SVIX is weak as well, VIXY is basing and putting in am mini flag. Dollar strong, interest rates popped. Hmmmm, hmmm, hmmmmm!
My system book is doing fine, but it is losing steam:
What I know:
This is not the place to be aggressive and add longs with leverage, 50-75% long sounds about right
We must see what happens: does breadth return, or will the breadth divergences drag down the market?
So, wait and see is the motto, I have no glue how it resolves, and I wait for a bigger pitch to get aggressive.
I will tactically be in an out of my hedges, too noisy to alert via this blog, you can follow me on twitter, I will post my hedging calls there for the time being: @GfI_Himmelreich
All the best and best regards.
Andreas
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