I will hopefully have some time tonight to put together a more coherent argument of why I think the markets are about to stall out today or tomorrow morning.
To make a long story short – I think the best case scenario for the bulls is we go back and retest the low 1100’s on the SPX. The worst case is we have another 2008 lite through the March time frame.
Needless to say, I feel that the utility of the April blow-off analog that I have been following for the past month has broken down. I will miss it – it was a great one.
Stay frosty traders – things are about to get interesting.