It seems hard to believe that the corrupt, will-do-anything-to-prop-equities-up administration would allow even a single down day to happen, but it did. I mean, with stocks like Apple up nearly 50% in just three months, I hope the bulls can stand up to such a blistering pinprick.
The “big event” this week, it seems, is Wednesday morning. We are jam-packed with information, above and beyond coke-sniffing Kudlow assuring us that things are going just swell with the
motherfucking trade talks.
The NASDAQ Composite has been on a tear ever since that scumbag Mnuchin called the PPT on December 26th and ordered them to start buying equities immediately. We have come exceedingly close to closing the gap (see arrow), although not quite (green tint).
A more interesting chart is seen with the Dow Composite, which is trapped in a tiny range (yellow tint). A break above or below this range will be instructive.
I have found semiconductors particularly interesting. I shorted MU, NVDA, and AMD yesterday, to good effect. The semiconductor index has had a modest failed bullish breakout.
A cleaner failed bullish breakout is seen with the Dow Industrials.
Lastly, the Russell 2000 small caps seems to be rolling over nicely.