The lamentations of the shorts and underinvested were heard across the equity trading universe, as the markets rallied on a scale that was unprecedented in the entire cyclical bull market.
Are we due for a breather? Sure.
Does that mean load up short? Nope.
I like to view market structure and technical analysis as a set of clues that provide evidence of direction.
As it stands, there is very little evidence for lower prices, other than a plethorah of oversold signals.
We've got a great show lined up today.
In this Episode of Stocktwits Brunch, we discuss:
- What exactly caused the large runup in $SPY, $DIA, and $QQQ
- Why this market rally was statistically significant
- How the EVZ is signalling a drop in the $FXE uncertainty
- Bearish signals out of $DBA
- Why the carry trade is still important $DBV
- Your individual requests
You can watch the show below: