S&P 500 Slumps but Consumer Staples Hold Strong amid Mixed Technical Signals
- S&P 500 is in a clear downtrend, but defensive consumer staples sector looks solid
- Equity-only put-call ratios have been split recently; some are bullish, some bearish
- Market breadth indicators attempted to improve, but remain tentative
- Volatility complex shows mixed signals - some bullish, some bearish
- We are holding a core bearish position but trading other confirmed signals around it
