BIG SHORT LOOMING?

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All technicals point to this bull run turning over very soon. We have reached a trend line that has proven to be a heavy resistance. As for fundamentals, there is not enough of a bull case to break this pattern. Equites seem exhausted, cheap money is running out, and 2021-22 outlook does not look promising for many companies.

Key Factors::

- Technicals lining up
- Volatility bottoming
- Big bets against corporate credit
- Fundamental outlook looks gloomy

This thesis has SPY reaching $300 by March 2021.