This is annoying. What now, Tim? The market is down for the first time in seventeen years, so what’s the problem?
Well, yeah, in spite of the VERY bullish wipeout in jobs, the market is indeed down, but my core position – – DIA puts – – isn’t playing along, because the one and ONLY equity future that’s green is the /YM (the Dow Industrials). Sure, it’s only 0.12%, but still………….pissing me off!
Looking at the daily of the same market, we have some interesting characteristics:
- An almost perfectly symmetrical (with respect to time) “V” drop and pop;
- A lifetime high marked with the red horizontal;
- The “lower high” market with the cyan horizontal
I’m just drumming my fingers, impatiently waiting for the DIA to get the memo.
