While tomorrow isn't a FOMC day, typically market goes up a day before FOMC day, and then fades when the meeting finishes. At least, that's what i have noticed in the last 2 years.

Feeling like a short-term buying climax day.

AMZN, MSFT, FB just broke out of their consolidation. Head fake or fresh new breakout? Surely this rally can't go on ...

Steve,

Prices of QQQ are so far away from 200 dma. It's the highest in 5 years. And the Feb's high is not even close.

I don't have stockchart subscription, so i can only view 5 years of data. Can somebody / Steve take my link and display data that goes back at least before year 2000??? I just want to see how crazy this run is compare to the Dot Com Bubble.

https://stockcharts.com/h-sc/ui?s=QQQ&p=D&yr=5&mn=0&dy=0&id=p03138837089

Market makers make more money with the downside during op-ex...

No disagreement with where it targets. The speed is simply too fast that they can be human operators...

Algos selling on headines.  Since it's based on no fundamentals, it's just a mini-or  a micro flash crash.

Welcome to the world of more and more bot trading ...

I guess the lockdown is good for tech stocks, and the  talk of re-opening should reverse the trend.

QQQ is underperformed SPY by a mile. Looks like sector rotation.

Not a trend day today?? Doesn't feel like it...

When does Trend Day typically knock off work? 3 pm? 

Although it looks as if it finishes at 1:30pm today. Could go back up and do a double top from here...

Would be good to form a handle on that cup with a pullback.

Fed announced the buying of HYG last month, HYG jumped, and market rallied. But today, they're actually doing the buying, i'm thinking buy the rumour sell the news event...

Like last time, it's accompanied by impressive outperformance in IWM to SPY.

VIX, HYG, QQQ are at important levels. Either today is a bull trap, or the start of a multi day rally not unlike the Friday after the VIX broke below L2, and SPY broke above 50 dma.

https://www.tradingview.com/x/qJ8Z3pv7/

DXY is keeling over, but GLD wouldn't budge an inch.

There's a fly in the ointment. Some conflicting signals. Well, do we ever gets an all-clear???

HYG is down today, and not small (0.7%). But i think VIX still wins out because so many people pay attention to this breakdown and becomes more bullish.

Absolutely agree. Need to see follow through on Monday.

But the SPY has an bullish ally today (comapre to last Friday) with VIX breaks below 38 support for the first time. And the drop seems impulsive so far. Especially with the negative Remdesivir news.  Seems like market is willing to look past quite a bit of bad bews.

Even if we don't rally further and closes here, SPY is now closed above 50 dma for the first time since the crash. This 50 dma line is probably what causes the VIX to closes below 38 for the first time since the crash.

I thought yesterday was the day when SPY closed above 50 dma. But the Remdesivir issue put a dent to that. But that news hardly did much damage to the market yesterday. And no follow through today.

Of course, if we reverse sharply here. All bets are off.

https://www.tradingview.com/x/bVovyzM8/

1 day away from ATH  :-)