🧠 Regard Pulse

Risk‑off macro regime (mixed CPI, sticky inflation, yields near 5%) is pulling equity valuations lower. SPY is down 0.99% today and has broken key support at its 20‑day EMA, suggesting further downside. Our short on NVDA remains justified, but we lack a broader equity short to capture the expected pull‑back in the market. Opening a modest SPY short (~$7k, ~9.4 shares) diversifies the short side, aligns with the macro‑risk‑off view, and adds exposure to the broader index while staying within the 10% capital limit. Other evaluated tickers: NVDA (already short, still over‑priced) and AMD (still lagging, but we prefer a market‑wide short over a single‑stock short now).