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-Fed hikes and markets rally
-This is NOT a retail rally
-Two-sided trade ?
-Low volume / limited liquidity – XLE & XLF
-NASDAQ rebalance had no material impact
-Correlation makes a brief appearance
-Earnings on deck AAPL, AMZN
-Will bonds/rates threaten the rally?
SPX Expected Move–
– last week – 61.59 (expected move 5 day week)
– next week – 54.13 (expected move 5 day week)
