The current rally is largely driven by the so called "growth complex" - companies that sell dreams instead earning cash. In a perfect text book world this should not happen at all, particularly given the explosive rise in inflation expectations.
Yes, the market is always right, and far too big to argue with, but still.. meme stock traders need to get familiar with cash flow analysis instead of wasting their time on Reddit boards.
I think this "rally" is built on the back of two megacaps.....AAPL and TSLA. Apple has ran off like 8 straight winning sessions, and Tesla is similar. Apple is now at rather stiff resistance, though......and has been turned away each of the last 3 times it's challenged it. So for me to turn bullish, I need aapl to break above that line. If it can do that, then I have to start to roll with what Mr Market is dishing out, no matter how irrational it may be.
wolffarchitecture
⋅
nice chart thank you for sharing, I hope you get a daily column / channel someday commentary/ content is very original.