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-oversold has become cliche’
-YTD recap of major sectors
-liquidity is nonexistent in many products
-indices are seeing a concentration of liquidity
-Bid back under bonds
-dollar hedge is still underway
-volatility looks all wrong
-contango in a bear?
-forget about a bottom; sell premium and survive
SPX Expected Move–
–last week– 133.43 (expected move)
–next week– 126.25 (expected move)
