Week of July 7

Insane vertical rally. Can it continue?

Recap of last week

Guys we knew exactly what the market was going to do last week and we positioned it getting leveraged long in both options and futures.

Our ES we exited for about 89 points, and our options position ended the week at +67%.

We dodged that obvious fakeout while many newly minted bears got annihilated. We experienced a rare golden week in the SPX, where every single trading day closed up. We were extremely leveraged long for every single second of that. It doesn’t really get any better than that.

I remember the tune on Twitter being very dark and bearish last week, as a reminder of how tricky the market is, many massive Furu accounts shorted SPX/NDX right before the 2nd best week of the entire year! I follow alot of the big Furus, exclusively as a contra indicator and they were all balls to the wall bearish and got destroyed. As a reminder to all, you follow the crowd (like the 150k+follower Furus) you can expect to achieve the results of the crowd. Which means being a consistent loser and failing to beat the benchmark.

Next move for markets