Percentage Play Done

“We must become more comfortable with probability and uncertainty.” – Nate Silver

Blog readers know that we were looking for the market to put in a tradable top for a 5/10% correction post earnings and into FOMC (Jay still has a beautiful track record in helping bears with his press conferences). We consider the % play move done here and will we discussing next steps in today’s webinar session. There are a lot of interesting dynamics shaping up and it’s important to stay nimble and make hay when the sun is shining. This does not mean that indices can’t go lower or that we have changed our bigger picture views but we are just focusing on trading the most probable outcomes. More on this and the DXY too later on today…
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