Making sense of mixed signs
|S&P 500 erased premarket the NVDA high expectations issue – through broadening out. It even ran to my premium given 5,665 level, only to tumble from there. Stellar intraday gains in ES and IWM were though secured for clients. We have a bit conflicting signs ahead (rising yields, rising dollar – my long-term opinions are well known to clients), financials doing well, broadening out in the smaller caps of S&P 500, and challenged AI plays (AAPL is separating nicely from these) together with TSLA weakness called a few days ago (check its reversal yesterday).
Then there is the core PCE ahead today – predictions and market aftermath reserved for clients. Stay tuned for live coverage on Telegram and Twitter as always.
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