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The indexes took a hit today. The S&P, which had been up nicely to new all time highs surrendered to the red at the end of the day. But saying “stocks are down” is like calling the Pacific Ocean a “puddle.” It doesn’t do anywhere near enough justice to the insane price action we saw today.
Like the headline says, the sell-side activity is different this time. Meta, the “Sideshow Bob” of the stock market, was off better than 1.5%, but Nvidia (the Krusty the Clown of the market, I guess) got crushed today, to put it politely. The intraday volatility – which we’ll look at – tells a pretty ugly story.
The Nvdia story probably isn’t over yet. We’re going to look at what the hell just happened, but we’re also going to look at the advance/decline and sector rotations. Gold and Bitcoin, which, at all-time highs had a much better week than Nvidia did, are on the menu tonight, too. And we’ll look at the triple witching coming next week.
We’re going to get into the five-day expected move for next week and how we did this week. There’s a lot on the table, so let’s sit down and get started…
