So Far , So Good

Look at JPM's earnings and look at JPM's price action today, sentiment seems to have shifted as 3C was forecasting.

When we drop below the SPY gap at $108.03, the chances of the reversal being in are much higher. I think you can, if you need to start your short position, use any strength today to do that in small amounts until we cross below the gap. If I had no position at all, I may add 20% today, up to 40-50% below the gap and then keep phasing in, at $104.20 I'd want to be loaded-for me that's 75% of portfolio short with 25% in cash.

Perhaps today's Fed minutes added fuel to the fire.