Highlights
- Even after today's rally, market structure clings to "Mixed" at best, leaving us with no choice other than to execute the plan we said we'd execute if we got to 5750 without structural repair.
- This means raising cash and restoring short exposure, which is really hard to do behaviorally, just as it was really hard to cover shorts in early April when the world was falling apart.
- Could the market explode higher from here? Absolutely, but this is not the time/nor the place. . .
