We Can't Shake That Sweeney Top
We can't shake that Sweeney Top...
Yesterday we issued a sell signal dubbed the “Sweeney Top”. Timing of this is of course tricky and we might very well look like idiots in the short term. However, S&P 500 has gone 23 consecutive days with moves less than 1% (with a 21-day realized volatility at 6.4% annualized). This is too calm. It’s time to exit longs and buy protection. Here are 10 more reasons why.