Snapped with a Wet Towel

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For those of you who saw my tastytrade show today, you saw me state that I had my head blown off in trading and was a-ok with it, since it comes with the territory (OK, it wasn’t that dramatic; I am still ahead of 99.99999999% of all traders this year). This unusual confidence seems to have been well-founded, as we’re starting to get some unexpected news after hours in the form of SNAP making an unscheduled announcement that they’ve got to modify guidance.

SNAP’s bad news is bleeding over to other tech companies, like fallen angel Facebook.

Take note of what the NASDAQ did today. It vomited straight up and threatened, for the third time, to break above its resistance. In one millisecond, the futures market collapsed beneath this failed attempt.