MARKET WRAP

We now tape radio that airs at 6 pm because of the virus situation. When we taped today, we made sure to mention that the nasdaq/tech/sox were doing the opposite of Monday. On Monday, they led big time. Today, lagging. Markets sold off into the close led by guess what? Those areas. Not sure what that means but we always want “risk” areas leading.

Markets were hit because “the bill” may be stalled. But let’s be clear, a bill will get done soon. Odds favor more upside testing but today’s petering out is of note.

Just lots of stuff off the bottom after basically crashing. And of course, we are going to see a lot more than $6 trillion coming out of these numb skulls so anything possible. If the deal is signed and markets still sell off?

 

1 reply
  1. Avatar
    Ken Jarmow says:

    OK. I kept hoping you would explain this better but I’m tired of waiting so I will ask.
    You refer to “nasdaq/tech/sox” a lot. I understand nasdaq as it’s something I can see displayed daily.
    The term ‘tech’ is a little more in that grey area as lots of things are referred to as tech. So I don’t know if you are you referring to a few companies or a lot of them. Are AMD and intel considered tech or are they in the sox?
    And lastly, is ‘SOX’ the PHLX Semiconductor Index index overview on MarketWatch?

    Thank you

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