Rotation
Nasdaq and S&P500 were green on Monday, yet the big tech Mag 7 were down. We are seeing abit of rotation of funds from these big players to other companies.
From technical point of view, this is good, because some of these giants have gone up a little too fast. We need such pullbacks to cool off the indicators before going higher. The good thing is that the other sectors are green - which means, the rally is broadening up
From technical point of view, this is good, because some of these giants have gone up a little too fast. We need such pullbacks to cool off the indicators before going higher. The good thing is that the other sectors are green - which means, the rally is broadening up
$GlobalFoundries(GFS.US$ $JPMorgan(JPM.US$ $Goldman Sachs(GS.US$ $CrowdStrike(CRWD.US$ $SentinelOne(S.US$ $Financial Select Sector SPDR Fund(XLF.US$ $Spdr S&P Bank Etf(KBE.US$ $KraneShares CSI China Internet ETF(KWEB.US$ $Temasek Holdings(BK2536.US$ $Dow Jones Industrial Average(.DJI.US$ $Starbucks(SBUX.US$ $Walmart(WMT.US$
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Silverbat : No worry
Markio1315 : Yea we should see $Invesco QQQ Trust (QQQ.US)$ touching 400 this month. But dumb and smart money gap is widening. If there is no pullback to cool down the index, then heading into 2024 may face a larger correction.
razo2 : it was green because we have morons piling in spy puts 0dte. the moves are purely mechanical. we can only see big moves after CPI and JP.
but I suspect too many puts maybe as a move to push the index higher so they can 0dte calls on Friday.
Minime88 : Will the balance company push the index up while Mag 7 down?
Aomori19 Minime88: Yes, because according to the current trend, Mag is far from falling to the bottom