Context
So we are in this weird time in the market where we have been and look to continue to be range bound amongst our favorite stocks until the Iran Peace Deal news comes out (we believe within the next 2-3 weeks we will have a deal) that will send the stock market into the stratosphere.
In fact we see many traders must share this sentiment as we’ve slowly been hitting higher highs with lower lows on all of our names, and the Nasdaq even reaching all time highs.
However, as of 11:57 am EST we see the QQQ at a high and oil is down 1.6% however 10yr yields are flying into the sky. We are avoiding going to heavy in at these levels as we’d love a smaller pullback before deploying capital for the inevitable stock market rip once a deal is announced but until then we can see the market getting anxious which is why we did the following trade…
