Meta Strategy Trading Portfolio – Probability Map Update.

– Positioning Update Thursday/Friday –

Breakout against Disbelief

While bearish sentiment deteriorated to a rare pessimistic extreme, the major U.S. stock indices are attempting to brake out of a months-long sideways consolidation.

This combination of bearish sentiment and moderate positioning with broad strength is very powerful and has the potential to propel stocks much higher into the summer.

The big question is: Will U.S. equities follow the successful breakout in European stocks?