$.SPX(.SPX)$ thoughts: the index remains above its short term moving average (6023)— breadth as measured by net new highs across NYSE and Nasdaq markets has been negative for three consecutive sessions, and momentum is pointing downward.
There is significant psychological support at 6000. In the scenario where pride trades below 6000, breadth is negative and momentum pointing down— I will take defensive position.
Otherwise I remain positioned for melt-up trade via ARKK, and a handful of other small cap US equities.
Outside of the US equities I remain a bull participant in Chinese equities like $Alibaba(BABA)$ and $TENCENT(00700)$ . I view the most recent decline as healthy.
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Macro Trend
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