Highlights
- We remain of the mind that this is a Dr. Jekyll and Mr. Hyde market. For every good chart (Dr. Jekyll), we can find at least one to short (Mr. Hyde).
- With the S&P back to its highs, market internals (i.e., breadth) are as divergent today as they were in January, if not more so.
- While we still believe that this highly unusual environment ends badly, it is critical that we remain patient, waiting for the evidence.
- Although the tactical. . .
