Looks like shorts are using weakness in broader mkt to cover underwater positions. Looks strong. We WILL see marginal new highs on Friday. Still bearish for next week though! Time and price baby. time 'n price
it's an interesting market indeed... small caps up , most else down (AAPL broke below 60 intraday, GOOG languishing.. edit: not anymore- up on s&p 500 addition) oil up, bonds down.... dollar up market seems bearish given Nasdaq can't get over resistance 2333, dow 11340 NOTE: these are some major resistances. however, what's up with Russell 2K? Usually it leads the way down, but not today...it was rock solid. Is this a squeeze or positioning prior to next week's FED meeting... difficult to be bullish when techs don't participate...
can you elaborate your thinking...dovish Fed statement bad for small caps? or the equity market in general? or do you mean to say money will be moving into large caps from small caps?
yes, i think the Q2 trade is going to be outperformance of large over small cap stocks. but if we get an unexpectedly dovish fed statement then you'll just see money flood into stocks in general. in this scenario, only when the dust settles (later half of 1st wk of april?) will you see a shift from small to large cap.
i think this is going to crash today. testing the support right now at 75550. took a big short position at 75750... i think we'll see 75000 today