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Thanks Gary.
Gary,
What do you think of some SPY or QQQ puts right here?
I would not advise trying to play the downside. There is too much risk the Fed will prevent the correction from happening., The safest course is to sit on the sideline and wait to see if the correction materializes and breaks the cycle trend line. If it does then buy some calls at the cycle bottom (maybe on the Friday employment report) as the Fed will make sure the market is rising into the next FOMC meeting on the 18th.
Where do you see gold market going from here despite of what SPY is doing?
It’s getting close to a final yearly cycle low.