Markets bounced nicely yesterday, but not enough to convince me the selling is over.
The put-to-call ratio is signaling oversold but the VIX remains very high despite yesterday’s rally. Since I’m getting mixed signals I believe it is best to stay risk off until the signals align.
The market continues to monitor the news cycle closely. New Omicron cases are popping up everywhere but the market is taking it in stride … for now.
The weekend is a long time to hold and traders make defer to cash by the end of the day. I’ll reevaluate on Monday. A solid close today could get me off the bench.
Futures are choppy but near flat. Bitcoin is stable at the 50-day moving average.