amazing week in Punta Mita Mexico … after my daughter got married my wife ‘allowed’ me to take some R&R. Worked hard for a week on my SUP skills w/ these guys: https://supnsurfretreat.com/
if you have any interest in Stand Up Paddle Surfing do this … shout out to Chris Sfor ALWAYS being patient w/ me. If I see you out on a wave this summer I promise I’ll at least know what a line up is … can’t promise anything else. Thank you, Chris, for the push.
before that saw 3 straight weeks of travel so I just ‘checked out’ of the markets for almost a month.
came back to the charts and what do I see … a PERFECT SELL PATTERN on the S&P. if your bearish, this is the level …
the only thing that is keeping me cautious and in a wait and see mode is the XLP/NYA ratio. Folks, it’s in full grunt liquidation mode. again, this ratio is a great harbinger of understanding institutional big guy mindset. IF they are risk OFF then the ratio should be going up if they are RISK on then the ratio falls – as it is now. note the support levels shown a little lower …until this ratio finds some stability and support I just can’t be overtly bearish….
good to be back – trust all are well.