“Black Monday” got cancelled - as expected. But let me be clear about where I stand now. Is this market flat-out bullish? No. Am I in a rush to deploy cash? Also no. For me, the next step is simple: I want to see $QQQ reclaim 728 and $SPY reclaim 774. We’re sitting in heavy resistance territory. Yes, there are discounts everywhere, but if you’re trading a short-term portfolio, you need the bigger picture to improve before getting aggressive. If you’re an investor with an 8+ month horizon, that’s different. There’s nothing wrong with slowly scaling into quality names you like. Key word: scaling. That’s my plan, and I wanted it posted clearly so there’s no confusion about how I’m approaching this market.
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