Where? In tech relative to SPY on a daily basis, just daily for now. S&P 500 and Nasdaq did crater on hot inflation, weak growth combo (very understandable), and then rebounded as called (I‘m featuring below the Trading / Stock Signals charts clients had well before the opening bell – played out well, even if QQQ 600 was not undershot in the end).
Similar to Thursday, Friday offered very wild intraday swings in tech – and whether intraday or swing trader, this is how to approach it (decreased position sizing, and if mounting a swing position, knowing we‘re in a trending market where S/R rule – additional thoughts from our intraday channel for stocks).
Then, we have the dollar clining to 98 again, in all the geopolitical uncertainty – I‘m covering further on the current sectoral view, and where we are in the stock market bull run, with sectoral implications. Supreme Court ruling on tariffs was widely anticipated, and caused little reaction even if it was really broad – certain industries with heavy (China and other) imports exposure, benefit. What though catched fresh attention (and market reaction), is raising them from 10% to 15% on all, as just happened.
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