An October Surprise Damages Tech

Presidential Covid-
–covid may have been the catalyst but the outcome was sell tech.
–correlation breakdown
–no diversification
–where was the rush to bonds?

Unexpected divergence-
–IWM ripped EM… in all directions!
–XLF
–XLE
–QQQ whacked and where is the vol?

Bounce and Fade is working-
–LULU
–NVDA
–IWM?

SPX Expected Move
–last week– 87.75 (expected move)
–next week– 89.70

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