Bearish
$SPY here's why its totally delusional to be a bull at current levels! The BULL case here is somehow trying to convince yourself that continued fed repo in the midst of unprecendeted 23.6 trillion debt following lowered EPS that still had over 30% of $SPX miss following an 18% run up from Oct $283 to Feb 7 $334.19 with MAX "RISK ON!" TRADING (as bearish as it gets $TSLA $MSFT going parabolic is how bull markets end!) All of that historically has 10% CORRECTION written all over it and 200 DMA $300 prior to Feb 21 OEX...But now add in CV world wide pandemic accelerating fast to an epidemic and the bull case is one that barley at this juncture supports avoiding a bear market $SPY $267 Bear Case much simpler! 18% run up since Oct ..fed repo lowered EPS 30% still missed... 10% CORRECTION $SPY $300 without CV a given Feb 21 OEX! 17% CORRECTION $SPY $276 with CV a given by Feb 21 OEX Bear market under $SPY $267 So explain to me please Perma Bulls why being a Bear here is delusional?
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