Just as we predicted with options flow and positioning, markets made their first red week close after we predicted the blow off top since april.
This market is controlled by structural flows instead of fundamentals which many thinks.
Last week we warn about how options flow has shifted and we are going to see some weakness.
Summer is always volatile due to lack of liquidity and this time is no different, except we have TGA sucking out liquidity from the markets with refilling of the accounts....