April 23, 2021

Tax Hike

Please click here for a chart of Nasdaq 100 ETF (QQQ).

Note the following:

• The chart shows when the media highlighted a report that Biden would raise capital gains tax to 43.4% for the wealthy.
• The chart shows the market falling on the report.
• There is nothing new here.  This is exactly what Biden said on the campaign trail and all along.  It is just that the momo crowd has stars in their eyes and they believed that Biden will not raise taxes without any evidence for such a belief.
• The VUD indicator is the most sensitive measure of net supply demand in real-time.