Another solid day in the red Wednesday for the S&P. It is now sitting right on the support line of the rising wedge. What will tomorrow bring: A bounce or further fall?
I find it interesting that all this FOMO about stocks going up the past year was because the economy will rebound easily given all the stimulus and thus stock prices were forward looking and worth the price. The worry now seems to be that the economy may rebound so strong that bonds are rallying which in turn is causing big money to move out of risky stocks that are already at high PE ratios.
I find it interesting that all this FOMO about stocks going up the past year was because the economy will rebound easily given all the stimulus and thus stock prices were forward looking and worth the price. The worry now seems to be that the economy may rebound so strong that bonds are rallying which in turn is causing big money to move out of risky stocks that are already at high PE ratios.
Comment:
Thursday 8am and overnight and this morning fighting over this major support line.
Comment:
Tip to the sell side and clear break of the rising wedge support line. Also a big drop out of the regression channel, but has climbed its way to barely back in. The 10Y T is thumping the market again today.
