Wonderful Reversal

Equities staged a dramatic intraday reversal as early gains evaporated, leaving the Nasdaq down over 1%. The S&P 500 followed suit, rewarding short sellers as downward pressure intensified into the close.

The day started off insanely green, with the bulls totally in control. By the end of the day, the /ES slipped about one-third of a single percentage point while the /NQ lost more than a percentage point. As modest as those changes were, it made for a VERY good day (and a huge improvement over the open).

Keep in mind, I have done NOTHING BUT SHORT all of 2026, and I’m pretty pleased with where things stand.

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