I’m Beginning To $SPY The Light

BPSPXVIX

Despite Wednesdays weakness, markets look like they are consolidating and may be ready for a push up, despite a collapsing FUCKBOOK and other gut churning news. As the chart above illustrates, the percentage of bullish stocks is beginning to rise relative to the volatility of the S&P500, offering a low risk entry for index buyers. Selling puts, buying calls or grabbing some $SPY with a stop loss based on the recent S&P 500 lows looks like a good play as we head into the last hour of trading.