Biggest drop on record
Energy, Industrials, materials and utilities are the leaders, while Financials look to join them. Mega caps related sectors are the big laggards still.
Traders are making an attempt to buy the dip and in a big way!
Citgroup (C) showing signs it might want to bounce here.
Slight downtick, but the big feat will be if they can keep it going lower after the tariffs filter through the economy.
If we don't go into a recession, and that is a big IF here.
The hate for SPY is crazy. 4:1 put vs call premium..
Possible rotation taking place between these two groups?
Increasing amount of puts vs call on VIX and as a result, could see the potential for a squeeze in equities.
Still in a downtrend, but the potential for a bounce here is increasing.