We are in a period where I have made my position clear— I am flat. If anything still leaning a bit bullish. However there are issues underneath the surface. Not enough to be bearish yet, but enough to be cognizant of their existence. So we are left with a very mixed picture.

There are no opportunities. No high probability trades. No lower probability but great risk/ reward trades. It just all screams stand aside. These are the markets where drawdown occurs. I am not going to be sucked in. 

Thanks,

Joe

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