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You know, I don’t care if you’re fundamentally bullish about this market or bearish, you have to just take a step back in shock and awe and try and get a grip on the magnificent sell-side activity we got yesterday.
And on a day when we saw relatively soft inflation data – pure catnip for Fedheads looking to cut rates.
We got a full on, pants-#$%^ing tech beatdown.
And it doesn’t matter because traders erased most of those losses today.
“So what,” I can hear you say, “people will buy the dip… and the dip has been bought!”
That’s true, in certain corners of the market, but the charts I’m going to share with you in a second underscore the true nature of the rotation going on right now. I’m going to show you some insane options volumes, too.
You don’t have to look very far – just take a look at what’s happening on the Russell 2000 to start with…
