The SPX closed at another all time high on Friday by a few points.

Good morning!
The SPX closed at another all time high on Friday by a few points. Overnight, futures dropped and gave up most of the gains, then recovered and now flat. Also on Friday, volatility as measured by the VIX, dropped by a lot to just above 16. The VIX has not been that low since July 16th.
While this seems very bullish, to me it speaks of complacency in the market. Goldman Sachs came out with their official call of 4700 on the SPX by year end. That’s another 5.9% higher from here. That is a pretty bold call while we enter into a seasonally bearish period period and Covid 2 (Delta) is now impacting communities across the globe.
While most business leaders and politicians are emphatically stating no more lockdowns, fear may grip the population and self imposed lockdowns may take hold. All it will take is a few outbreaks after kids show up at schools across the country. The market has certainly not priced this in. I am waiting patiently, mostly cash and net short for now.

Talk soon,

Al Losada

Founder |  SimpleOptionStrategies.com

P.S. For live trade alerts, please check out our SOS Trade Alerts. We will be opening to new subscribers on Aug 3rd, 2021.

You can also check out my YouTube Channel at SOS YouTube

None of the content published on SimpleOptionStrategies.com or within SimpleOptionStrategies.com’s Telegram Trade Channels constitutes a recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. SimpleOptionStrategies.com is not responsible for any losses incurred as a result of using any of our trading strategies.

FREE DOWNLOAD

Comprehensive Options Cheat Sheet

Thanks! Your Cheat Sheet is on its way to your inbox!

FREE DOWNLOAD

Get My Personal Trade Journal & Template

Thanks! Your access link will arrive in your inbox shortly!

FREE DOWNLOAD

Comprehensive Options Cheat Sheet

You have Successfully Subscribed!

FREE DOWNLOAD

Get My Personal Trade Journal & Template

You have Successfully Subscribed!

SUBSCRIPTION

Zero Day SPX Expiration Trade Updates

You have Successfully Subscribed!

SUBSCRIPTION

Monthly SPX Options Trade Updates

You have Successfully Subscribed!

FREE DOWNLOAD

Comprehensive Options Cheat Sheet

You have Successfully Subscribed!