Market Journal: Soft Landing Day

But…

Discussion

…On watch for a local top.

Sentiment is a big problem here, and while we have room to squeeze before hitting the September/October danger zone, we are in the realm of a local top right here and now.

It’s a bullish day in morning trading, with the only hiccup to the bull case being VVIX being down less than VIX, but that’s not always a timely signal. So I doubt today is a day to take a shot on the short side, but I’m watching closely.

Exhibits