The Delicate Balance of a Priced-to-Perfection Market

In our last analysis, we noted that after our Color Signal from the Margin Signal reached a very heated reading of 14 (out of 15), the chances of seeing much upside before at least a consolidation were slim. That is exactly what happened. Since then, we’ve had several consecutive down days, but realized volatility remained extremely well contained throughout this series of red candles, and the result has been modest: only –2.27% from daily close high to intraday low on QQQ, and –1.86% on SPY.

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