“Stock market bubbles don’t grow out of thin air. They have a solid basis in reality, but reality as distorted by a misconception.”  George Soros

We saw choppy action in stocks today as they continued to setup for a break lower, then Fed speak late in the day sparked a selloff when they said they’re still considering a June rate-hike.

Markets do not want a rate-hike.

That said, I’m now short TSLA, AMGN and SPY and we can make a killing in short positions if the Fed does indeed follow-though on their threat of a June hike.

SPY is right at the neckline now and set to break lower right away.

I’m short 15% in SPY as it broke at 205.50.

The next short level is a break of 203.90.