Market Makers are selling off large caps and shifting funds into Indexes in order to hold the market up for a complete exit on large caps since they'll be hit the hardest by a crash event and another rate hike. Apple earnings are today after hours, and appear to be the last decider for this earnings weak, amazon and apple both hold the largest weight for SPY. Meta down, Microsoft down, Tesla down, Google down, Apple & Amazon are Spy's last hope, and based on not going against the trend, I'd assume these two giants do like Meta, Google, Microsoft, & Tesla. Slight chance this gets manipulated since apple is the largest holding of a lot of investors but I believe they must be exiting apple shares while pumping the indexes to maximize the exit position.
GDP was higher than expected, which can add fuel to the fire of another rate hike that can tank the market further down, US Dollar needs to go up from here, very overextended to be honest, and could lead to a ripple effect, a huge parabolic sell off.
GDP was higher than expected, which can add fuel to the fire of another rate hike that can tank the market further down, US Dollar needs to go up from here, very overextended to be honest, and could lead to a ripple effect, a huge parabolic sell off.