Last week’s mid-week: “The grind is the setup. The autopilot has a switch-off date.” Sunday: “So why is The Lie at -2?” We published the put spread, mapped seven levels, and wrote the exact kill conditions: “AVGO miss Wednesday” for semis. “CRWD miss Wednesday” for cyber.
Both happened. Same day. Plus Iran.
Tuesday hit 7,624, a new all-time high. Then Wednesday, Iran launched missiles at Kuwait and Bahrain. One dead, sixty wounded. Oil spiked past $95. ES reversed 89 points from Tuesday’s high to 7,535 after hours. We’re sitting right on the 7,540 support we called on Sunday.
The Lie was -2 CAUTIOUS going into the week. The process is tracking.
Below the fold: the level scorecard, updated game plan, what the earnings mean for themes, and why defense mode is still the right call.
