SPY Reversal Danger

I hope you had great New Year‘s Eve celebrations, and once again Happy New Year! S&P 500 was again rejected at 4,840, and started slowly losing altitude into Chicago PMI, which ushered in selling wave as the figure (46.9 vs. 50.1 expected) didn‘t really boost the ruling soft landing narrative in a heavily optimistic market.One chart to sum it up (courtesy of ) – either retail buying the dip steps in within 1-2 days latest and stocks suck in even more endless rally believers only to see the rug pull right thereafter, or the buyers won‘t muster enough strength at the onset of the year, and the stock market goes lower.(Click on image to enlarge)Today‘s analysis is shorter than intended, shorter than usual (but still covering real assets below), as I‘m slowly getting better following the quick bout of weakness and feeling cold as of Friday, which requires more a single weekend to get rid of in full. Thank you for your understanding and Happy New Year!More By This Author:New Year SPY PlanningSPX Range Established, Or NotShaking SPY Tree