Put an overbought market together with options expiry and some juicy news, and this is what we get. The VIX is higher by plus 22% (VXX +8%… geez) while XLF is down just under four on the Goldman charges. Maybe a Long XLF/ Short SPY as a trade idea? Meanwhile, we are coming in fast to my trailing long stop levels. With internals so negative, it is usually a bad idea to try and catch the falling knife intra-day.
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