As people rush into equities — since they’re such a good value and all – – they are fleeing what has been the realm of safe havens for weeks on end, such as bonds:
…..as well as precious metals. Silver, for example, is sporting an island reversal pattern.
For myself, today sucks out loud, although I did short an absolute boatload of IWM and KBE at good prices near the peak of today’s price action. That is a little bit of salve to the wounds I endured covering dozens of other positions. I am still engaged in trying to make today a silk purse of what had started off as a filthy sow’s ear with blood all over it.