To gain an edge, this is what you need to know now.
Smart Money Sold the Stock Market
Please click here for an annotated chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows the area with a small rectangle where the momo crowd aggressively bought stocks.
- The momo crowd buying was especially aggressive in momo crowds’ favorite stocks.
- As we wrote in the Morning Capsule, the momo crowd was especially encouraged when the new data showed that more people than expected lost their jobs. The momo crowd knows the play book — more borrowing and more money printing causes the liquidity to go into the stock market.