
The expected earnings are great which for me does not provide the best setup for larger runs higher. Now we #Reuters is reporting key data on #EverGrande which initially posed serious risks for most equity valuations.
Here you can see the Energy ETF outperformance
The R Option model has some exposure expiring today. SP500 is above 3% MTD and about 18% YTD. Volatility is lower than last month.
My last message was 10 days ago after closing a few short. As of now, I will be looking for ways to hedge the long exposure.
As a simplification, most of the weakness for the last few days on the US equities could be attributed to the USD gaining strength. Note that the first week of Sep was around 1.187 and a few days ago was 1.155