Tumbling Dice… good song, not so much good trading….

There are a few things on the horizon here that, in my opinion, are suggesting a more neutral stance. First I don’t want to “roll the dice” into an FOMC meeting that is completely unpredictable. Further the last half dozen Federal Open Market Committee weeks have been big range weeks, so happy to stand aside from that. Another factor is most of my Big Six … AAPL, AMD, AMZN, GOOG, MSFT, TSLA … have constructive looking charts like AAPL attached. They all look better than the SPX index itself. So going to grab profits in my current short positions in JPM, SQ, PYPL, as all are in some measure of good profit. 

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I continue to believe that anything over 400 in SPY is the place to start to look for shorts. The FED is in an untenable position between the banking issue and inflation. Whichever one the FED takes on increases the risk in the other. I don’t believe this resolves without a cleansing that causes some pain on several fronts. Would love to be wrong on this. For now though, moving to cash and seeing how this plays out this FOMC week.