Everyone wanting that free money back again..... Remember folks it's an election year so it has to be nothing but free money....so just keep buying the drops.
And also who doesn't love this volatility....we need a vix back above 20 and 1 to 2% daily moves. But semis got slammmmmmed which were the best performing sector for how many years??? You would want a nice gap open on the downside tomorrow followed by buying a huge jump into close but who knows what we will get since everything now hinges on the headlines of possible geopolitical news every other minute. Oh and don't forget earnings.....volatility is going to be so lovely.
Alphabet, Microsoft, Tesla and a crap load of other techies report this week. Here's is what I see with $NDX 100 weekly:-
Seems like the anticipated rally is cancelled. NQ leading lower and already red. Just no upside momentum left in the market at this point.
Disappointing for bulls, indeed. I saw the small gap open last night and I thought it would have some follow-through, at least in the first half of the session, but no, meh ... Plenty of corporate results this week.
Weak dip into yesterday's Close. Let's see if we hit 5060 by the Close now. EDIT: That would be Friday's Close.