Back to overbought conditions. Wouldn’t expect much higher in the coming days.
Its all about the $SKEW. The SKEW has reached extreme levels and is signaling caution on any long positions here. Time to step aside or look for short entries to 1950 on $S&P Futures or 1964 on SPX. Looking for a retrace possibly up towards 2050, but not sure we get there before markets roll over toward 1950 level ( 1964 $SPX).