In sharp contrast to yesterday’s META wipeout, the tech stocks are exploding higher tonight, driven by the typical nonsense of (a) massive buybacks (b) massive dividends. Google in particularly is blasting to never-before-seen highs.
I’m actually loving this, because this is setting up to be a potentially delicious deluxe bull trap. Friday should be interesting! Here’s the /NQ with two important resistance levels:
It isn’t just tech stocks; the /ES is playing the same shenanigans. Looking good!
There was a time (the late 1990s) that Intel was a huge market mover. As it is now, the company is getting absolutely torched, and no one gives a crap (not even SMH, the semiconductor ETF!!)
