To gain an edge, this is what you need to know now.
Worst Rout
Please click here for a chart of S&P 500 futures (ES_F).
Note the following:
- Stocks are experiencing the worst weekly rout since March.
- As we have previously explained, the selling going into yesterday was related to Wall Street’s positioning.
- Wall Street and institutions simply recognize that the momo crowd had pushed tech stocks too far to unsustainable levels.
- Many institutions and Wall Street use futures to hedge as well as when they quickly want to take a large position. This is the reason that we are showing you a chart of futures.