Hello Everyone,
Nice bounce back in the market today. Yesterday both the VVIX/VIX ratio and the NYMO had closed below their lower BB's and gave buy signals, which played out today. That said, are you guys seeing a pattern here yet??? One day big rally, the next day market dump, the following day a recovery rally, then another dump, rinse and repeat. We have been in a range. So...we've had a nice rally today does that mean another sell off tomorrow? LOL
For the daily the SPX gained 53 points or +0.8%, QQQ added +1.5%, IWM small caps gained 1%.
IGV software sector has been very nice gaining 1.8% today and 5% for the week! Congrats if you followed me on this trade.
- Crypto very strong today; Bitcoin, Ethereum, IBIT, ETHE, MSTR, WGMI etc etc
Let's review the charts
Matt