MAGS has been one of the ugliest places to be this year, underperforming small caps IWM, which aren't the best area of the market either. But we are reaching an interesting spot here.
DXY talk of weakening seems premature and even wishful thinking to prop up risk assets that are running out of steam. Aside from the Yen, most other central banks are already cutting rates to support their economies while the US magically looks stable around 4%. Not to mention the work left to do on US inflation. All of that is supportive of the dollar. MAGS don't say I didn't warn you 🫠
VIXSPXSPYVTIMAGS Today's price action confirms the bull market is still strong. I'm still long-term bullish—short-term volatility creates opportunities for shorts, but the bigger trend remains intact. Locked in profits on all leveraged short positions at good levels and flipped them back to leveraged longs. 📈🔥