I resemble that remark!
We're seeing macro hedgies try and push the tape decisively through last week's high (500k QQQ here, 250k SPY there...) with the thinking that a massive coverfest will unfold with a trade through S&P 1050. The bears are (thus far) holding the line but they're clearly on their heels.
THE question remains--what if? Will they carry that inventory into the earnings slew IF we can't bust through resistance? Tight stops, please--it's thinner than Kate Moss on an Atkins diet.
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