Nothing To See Here

China concerns have subsided for now and the bears have gone back to sleep. The problems are becoming inherently worse with each injection of stimulus, because it is a game of diminishing results. There is no point making forecasts about what will happen or when, because everything is being measured with a rubber band. All you can do is watch the risk indicators and act accordingly. You have to hedge your book at this point in the cycle. Not for the purpose of making money, but for the purpose of portfolio insurance.

Never have a bullish or bearish bias. You must be multi directional.

VTI weekly holding the breakout. Still 18% above the mth kijun sen.

VXX daily has broken lower.

SPHB daily high beta has recovered after the junk bond rout.

JNK daily rebounding off support for now.

EEM weekly breakout on $USD weakness.

Oil weekly holding the breakout.

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