Greetings from the Eastern Time Zone. Now that I’m more-or-less back in the saddle again electronically (albeit with slower computers and far fewer screens, which always makes me feel hobbled), I can put in a sorta kinda normal work day. Please understand that, until next Wednesday, the rat-a-tat pace of my posts won’t quite be there.
So the world has decided the only stock that matters is a former maker of gaming graphics cards that has been the beneficiary of AI fever.
Personally, I am in the camp which believes that the counter-trend bounce (which I correctly surmised was starting last Friday morning at the opening bell) is through, or very close to through. This 4 hour chart of the /ES is relatively compelling to me. I’m going to start putting my dry powder to work.
It also helps that Fear Has Left the Room again, as illustrated by the /VX futures.
Added to which, bonds have resumed their weakness. Of course, the real fireworks for these could be experienced Friday morning, when Powell does his little presentation.
