Strong day yesterday with some give-back as the Mexico tariff thingy ended. We walk into another gap to the upside this morning as yields back up and money is deployed.
An amazing more than a “V” shaped move back up off of one thing…OUR FED once again crapping in their pants about a correction in the markets and changing their stance from “patience” to “lowering rates.” This after going from “raising rates a few times in 2019” to “having patience.”
Tech…which was a wreck into last Monday…straight up…and we mean straight up.
For those asking. BEYOND MEAT (BYND) got the valuation downgrade from their underwriter this morning. The stock is currently down $18 but valuation was a joke $100 points ago. Remember, price is what someone is willing to pay but eventually…eventually, valuation will matter.
The SEMIS led down and now leading back up. Remember, they have been leading markets up and down forever.
We could say markets are near-term beyond overbought but with the fed next week…