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Make a Plan to BTFD

Make a Plan to BTFD

The S&P 500 has sure taken a beating over the past week since Jpow put out a sunset schedule on the "free money." We left some money on the table with our short last week due to an unwillingness to hold over the weekend (see linked). But we're back and ready to roll again this week with a different play. Our mission: catch the excess low and play the bounce we know is probably coming.

The S&P 500 has taken brief trips below the 2 Standard Deviation Bollinger band 7 times since September 2020, and each one has been a solid BTFD opportunity. We are approaching that zone right now in the 4100 (4110 to 4080) area where the risk-reward is overwhelmingly in a favor of trying for a bounce back to 4230 to retest the first bearish crossover prior to the dip.

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