Week of January 15
Battle for ATHs
Recap of last week
I thought the market made a short term bottom last Friday on the NFP print, and that’s exactly what it did. We went leveraged long, and made huge profits.
SPX started the week with a 70pt rally on Monday and never looked back. Zero drawdown was incurred. On Thursday at 8:00AM EST, I sent a warning to risk-off before CPI as I saw some concerning data regarding a potential upside risk to the print. We proceeded to dump our bags to all the late longs who FOMO’d in before the SPX dropped 1% on the 3.4% headline number.
Next move for markets