1) NEVER SHORT THE MARKET WHEN BERNANKE MAKES 3 SPEECHES IN ONE WEEK.
2) Any bearish sequester effects can only take place if mainstream media plasters it as a “doom and gloom” situation for a few days. Perhaps over the weekend.
3) This primary bull market is extremely, extremely strong. I am beginning to think it is possible we break through the multi-year triple top on SPY by early April (thanks Uncle Ben).
Congrats, bulls. Ben had your back this week.
The next two weeks, however, will be volatile as we are strongly setup for some consolidation.
Next week, options open interest is highest in the SPY 150 puts and 148 puts. Pretty bearish. Also in recent weeks, Green Fridays have mostly brought Red Mondays. We’ll have to see what happens over the weekend to make any attempt to figure out Monday’s move.
Happy Sequester Day