DOW strong…and into the close. This morning’s futures down about 200 day points.
We would love love love a contraction of volatility as it sets up the charts better. We suspect we will start to get some of that just because.
Still…this move back up has been what we call SOTB…stuff off the bottom. For example…a name that went from $100 to $50 now rallying to $65.
Pay attention to price…especially now. There is so much noise out there on everything. Markets will go where they want to go because or in spite. Most cannot understand a market rallying up when business is shut. We get it. But there are other things going on like the maniacal Powell printing ridiculous amounts while screwing the savors. Do not also forget markets are forward looking.
Have a great 3 day weekend.