Last night’s After Hours with Option Addict is worth a watch. I haven’t spoke market talk in quite some time, as I was under the opinion it was totally fucking irrelevant…but yesterday after the bell I made the case for a fast move higher starting this week. In the last few days, I have been getting hit with unsolicited market analysis…or forwarded articles of the doom variety…so I pitched my case for why the market makes it’s fastest move up for the year starting into yesterday’s weakness.
FANG stocks all rallied off support, semiconductors are set to BTFO, and biotech stocks had the looks for a breakout…all of which happened today.
An important note we discussed was that the anxiousness in volatility indicators was not being presented in the market action. Meaning, people were starting to price in downside but market speed has all but deteriorated.
The market weakness you want no part of starts from a fast move up. Til that happens, I’m content to headline with “staying the course” til I the anxious ones are no longer anxious.