Meta Strategy Trading Portfolio – Probability Map Update.

– Positioning Update Monday & Friday –

Smells Like Risk!

Vix and gold spiked on Friday morning, as the market was sniffing out increased geopolitical risk before the weekend.

However, if nothing happens, the subsequent volatility crush would be supportive for a quick, temporary bounce in equities.

But a stock market pullback has finally begun!

Healthy consolidations take time to normalize extremes in sentiment and positioning, and the depth of the first leg down will be a litmus test for my thesis that current conditions have begun to mirror 1995 or 2017.