1/29/26 Recap

The SPY knifed through the 21 ema today early but has recovered a tad so far, bulls would really like to see this close over the 21 today. The market is down big because of a multitude of things take your pick we have our biggest carrier went dark meaning a potential attack on Iran is imminent, we had oil prices spike, and we had a disaster report from one of the biggest companies in the market with MSFT down 12% right now with one of the single largest single day market cap drops in history. What happens next I don’t know but as long as the VIX is perky like this you really don’t want to be buying premium, you want to be selling it if anything but with the weekend coming up and who knows what regarding Iran, it probably is a better time to just keep your positions and not add much until we have more clarity.

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