The Hook was Set at 3655 on the S&P this morning – with a second update at 9:50 AM

An amazing day, the 3609 area was triggered with a big cushion on the opening, and now the market has trailed down to 3605. This has all the makings of a historic top.

Tying it All Together..

In our Special Weekend stock Market letter on Sunday we outlined our Macro view of stocks and how I see that market tie into the 18.6 year long cycle.

Here today is a Big Picture look at a combined position for our two main trades at the moment; 1) the Biden strong dollar trade that is long the dollar and 20 yr bonds, and short GLD, SPX and NDX, with 2) the Macro Cycle trade that is essentially short everything, short S&P, Nasdaq 100, Gold, and 20 yr bonds.

Trade Portfolio..

Markets Dollar 20 Yr Bonds Gold S&P Nasdaq 100

Biden Dollar Long Long Short Short Short

Macro Cycle Short Short Short 2 Short 2

Big Picture Units Long 1 Net 0 Short 2 Short 3 Short 3