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Now this was a trading session! Today had it all – the Fed, economic data, volume…
I’ve been at this for more than 25 years, and I have never seen the kind of trading in individual products that we’ve seen today. Let that sink in for a second.
The markets exploded on cooler inflation numbers – just a hint of selling activity but it didn’t last at all. We rode the upper edge of the SPX’s expected move for most of the last hour of trading. Shorts are squeezed outside of that.
But… like I hinted a second ago, today’s order flow was highly significant. It’s dried up from all but the Big Tech stocks.
I’ll tell you why that’s important and what I think is the best way to move forward…
