SPY still is in that sweet spot on the sell setup. With the DeMARK 9 sell setup, we clearly have a nice short setup. There are however, conditions for shorting to ever stand a chance of working in the medium term.

DeMARK 9 Sell Setup

First thing is first: pay attention to crypto. We have been gawking the long setup since the 35,000 area. Now BTC is fast approaching the anchored vwap from the highs the market made back in November. This has been very bullish since making the lows earlier in March and was actually leading the market the entire way up. I'm looking for the same price action to determine if the S&P short hedge is going to work. ETH level on that anchored vwap is 3690.

Not getting married to the short side though. I am not very interested in staying around in a net losing position. After all, the markets are just positions. One stock that has had a lot of relative strength is UPS. This one has been acting so well I think it might trade up to the 250 range pretty quick if markets stay firm. I know that a lot of bears are starting to feel the pain and we only put these hedges on tactically for a medium term idea. Stocks do go up, after all.

AAPL DeMark 9 Sell Setup (9-13-9, actually)

GOOGL Sell Setup Below TDST

Momentum Factor ETF TD 9 Sell Setup

TEVA 9 Sell Setup

NVDA 9 Sell Setup (Anchored VWAP Res At Highs Too)

The gist with these is the market is slightly exhausted in the short-term and reflecting the trend analysis that we have shown on SPY with counts across a lot of stocks that have been leading the market. My favorite trades on the long side are still names like CCJ on dips (like today). Want to see 27.5 hold here, otherwise reloading near 24 for a move back above 30

https://share.trendspider.com/chart/CCJ/50847bb1p3f

As always, hope you found this helpful. I have not done much from a positioning standpoint except add to bonds for month end seasonality. This is my big picture idea and maybe risk-off will help make that be the catalyst for month end flows to come to fruition. If you have any questions, feel free to reach out.

PS - Why don't you hop into the chat room during the day? Go to investorcharts.net/chat and talk with me in real time during the trading day.