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The S&P 500 and Dow are closing out the week with losses, despite a few up days here and there. The NASDAQ on the other hand is up… oooh… a whopping 0.35% in the past five days. As I’d say on any given morning, “massively unchanged!”
Most of that NASDAQ gain is because Tesla kicked the tech index in its @#% with a decent earnings report and dragged it along for the ride. Unless something dies next week, tech as a whole is on track to have a decent month; XLK is sitting on a 2.7% October gain right now.
Financials… well… they’re down bad. Bierman’s been hollering for more than a week about a bubble forming in asset managers and brokers, and he’s not wrong. Thanks to interest rate trouble, it looks like that might be coming to a screeching, flaming halt, Hindenburg-style.
And a look at the VVIX shows risk is creeping back in.
Am I worried? Hell no – as wild as this all sounds, it’s actually GREAT NEWS. Sector rotations are rocking and rolling. We’re staring down the barrel of some incredible trading opportunities because of all this.
Here’s why…
