The Lund Loop

Post-Fed announcement today we saw a fugly reversal in the indexes and most individual names. Interesting that the SPX was again rejected by the Anchored VWAP from that February 2nd high. For more on this, check out today’s ‘Daily Update’ video below.

We continue to have a “Tale of Two Indexes” going on between the Q’s and IWM - which look like mirror images of each other. After watching the whole market sink in unison over the past year it’s easy to forget that indexes can diverge from each other, and that’s what we’ve seen recently with these two.

In yesterday’s ‘Daily Update’ video I talked about how over the past seven trading days the VIX has tried to close above the 26.50 and been rejected every time, indicating that a reversal lower might be in the cards. Today we got that reversal, which corresponded with the whole market lifting in front of the Fed decisions. And there, of course, is the rub.

This week I was a guest on the The RO Show Podcast, hosted by Rosanna Prestia, where we went long form, discussing everything from technical analysis to trading psychology to behavioral economics, risk management, decision science, Stoicism, drumming, and much more

If I didn’t know the rest of the market exists, judging from the Q’s, I’d say we’re in good shape as the recent outperformance is something to behold. But at the risk of sounding like a broken record, it’s unlikely that tech can hold this market up by itself for very long.

A look at the profit opportunities for the coming week.