Bonds yields rising. Tech struggling but banks, industrials and materials, etc are doing pretty well as the reopening trades
The smarter ones are taking profits after the good run. Invert is the next watch, that will be the breaking point.
The action in the NASDAQ is turning really ugly. Most of my setups are getting completely shredded right now...
Yeah the NASDAQ is looking the worst. Could be a symptom of the large caps underperforming. IWM is barely negative, relatively speaking today. RSP(equal-weighted S&P) is outperforming SPY(cap-weighted S&P).
The FED will be making a speech today to try and help ease the fears. This is still a traders market and waves are still choppy. I'm still watching the yields, which to me is a very important indicator as the NASDAQ has proven my point 10 fold. Until people go back to work and life gets to normal again this market has simply been pumped to extreme levels and the smarter LARGE investors are taking some well deserved profits. Time and time again I notice companies being bought up by retail pre-earnings, reporting good results and being sold off. Some don't seem to understand why. BORSON can be your friend along with the trend. I'm still watching, making a few plays, not adding to longs yet. Be careful,use caution.
I say we end green today. Shaking the tree until Uncle FED makes the speech. I just had a very expensive breakfast.
Are you serious? In this strong thriving economy what could go wrong? We just set new highs with half of the World shut down. Just print more money, all is good.
Nikkei Futures are down over 2%. Today's fall in US equities will go around the globe which, in turn, will again whip us hard at the open tomorrow.
