Between A Rock And A Hard Place

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S&P 500 stopped consolidating in the 4,340s shortly after the open, and went largely one way since – except for the run up to the closing bell, which I used to grab short profits off the table. The overnight pump is at work today – not vigorously, but still. Given the credit market posture (yields not rising much on the day), a brief retracement in tech can be expected – especially since yesterday‘s outage news were what powered it in the first place. Q2 2021 hedge fund letters, conferences and more VIX has gone nowhere yesterday, and looks unwilling to spend much time below 21 really. We‘re a…

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