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I’ve been absolutely pounding the table on this for more than a week now. The correlation between Big Tech market leaders and the S&P 500 is getting stronger, not weaker. And that means a correction will be knocking on the door any second now. Higher SKEW and much lower volatility points to that. Low options volumes point to that.
The gamma squeeze trade is dones-ville. It’s all pointing toward change – or trouble, if you’re not prepared. Let’s look at what it could take to get us all the way there – and what we should do about it in the meantime. Last week’s five-day expected move was 81.08 – we’ll look at how we did and what we can expect next week.
We’re also going to look at a couple of specific stocks I think back me up – PPRUY, NKE, LULU, SIG, LVMUY. All luxury and consumer goods names. Let’s get into it…
