Skim the froth in the market
Data with potential indications of slightly longer rate hikes and/or rate hold, and the general market being frothy at these levels give me a good enough reason to be bearish at the moment. Personally, if it actually spikes over 4160-4200 short term, I would add more shorts for it to come back to 4000/3960 value area. I think it is a good spot to take some diagonal and calendar spreads on SPX here for the downside.
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