You've heard the line before.
It's so easy being long the stock market when the FED has your back.
And yet we find the market crumbing after yesterdays FED presser.
The $SPY is down $10 from yesterdays highs. A massive and ugly reversal.
Contrary to what the bears, who have been short and/or sitting out two historic bull markets the last 10+ years, have been saying... its not easy being long the stock market.
Behind relentless upside is the hundreds of excuses to sell. The fear mongering. The negative headlines.
And yes... the stock market does go down. We've gone down plenty over the last 10+ years. Flash crashes, pandemics, global economic shutdowns the likes we've never seen before.
And here we are not long removed from new all time highs. No it hasn't been easy, but trading for upside has been right.
And guess what? I don't think that is going to change just yet.
Calling for new record highs... much as I did right near the pandemic lows in March.. has been the right call.
The FED has our back. But this market isn't always going up. And thats a good thing. The less people that believe there is upside ahead, the more likely that upside will come.
This ugly post - FED sell off will reverse. Perhaps as soon as today. The market will find its footing. Upside will come and even new record highs.... and those too likely far sooner than anyone expects.
Lets see if momentum turns early.
Easy right? More like easier said than done.
Th bears since 2009 ---->> The FED and Central Banks are insane!! They have taken all the risk out of the market.... here is my latest in depth piece on why the market has topped
— UPBOptionMil (@UPBOptionMil) February 19, 2020