The “max pain trade”

Tuesday 25 March 2025

The Market Ear is all over it.

That’s new

SPX taking out the negative trend line that has been in place since markets started the correction. A close here or higher and things can start to squeeze more seriously. Note just how far the 50 day is trading…

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.