Good Lord. No matter what, this market can’t seem to hold down to a breakdown for more than a few minutes, tops. Here we see the /ES slip below recently consolidation. Out of the blue, it shakes it off and rockets higher.
Tech stocks are even worse (for the bears). Another triple-digit reversal on the NQ:
The only index I trust even a little, the small caps, is at least remaining below yesterday’s peak, although it had the same fake-out that everything else did. It seems the opening bell is always the magical low for the day.
I can only shrug off these machinations to end-of-quarter craziness, although it’s a combination of wearisome, discouraging, and frustrating. The best-case scenario (which is bordering on science fiction at this point) is the following path for the /RTY over the next couple of weeks.
