1/8/26 Recap
The SPY pulled back to the 8 ema today after moving to new highs yesterday, pretty normal consolidation after that 2 day move up. We’re just in wait and see mode until the Supreme Court decision tomorrow on the tariffs. Lots of bets placed in the database today that are looking for a repeal of Trumps tariffs and right now betting site Kalshi has 70% odds they get repealed. You’re seeing interesting relative strength in names like Amazon with the Nasdaq down very big hinting at what could possible be coming tomorrow. Of course it could all be a headfake, but the price action seems to be indicative of a repeal. The VIX is down 2% so it also isn’t showing much concern heading into what is a pretty major event. If you’re concerned you could just sit out the next 24 hours and see where things go.
My Open Book
Trades I Made Today
