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The S&P 500 is down around 1.3% and volatility is up – nearly 9% for the day, in fact.
THE CHOP is back, baby! Big-time.
And we’re perfectly positioned for it, too.
The sell-side activity we’ve seen today came from bigger fish out there, which is one reason why the Nasdaq isn’t doing anywhere near as “well” as the S&P 500 today. It’s bled out more than 2%.
Take Nvidia; it’s down more than 5% for the day. Tesla, which has been on the quintessential rip-your-face-off ride for the past few days, is also down more than 5%. The sellers came for these right out of the gate this morning and didn’t stop.
Meta, Google – I could go on. What happened when these names got caught up is a domino effect; it started to tip other major sectors. Financials had a nice bid under them – BAM! Gone.
Let me show you just how we’re fixed up to take advantage of this and what we might expect as we move into the back half of the week…
