To gain an edge, this is what you need to know now.
Buying On Weaker Retail Sales
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- In the Morning Capsule, we shared with you that retail sales were weaker than expected.
- This market is driven by money printing and government borrowing. Weaker retail sales is good news because it reduces the pressure on the Fed to taper.
- In the Morning Capsule, we also shared with you that it is Friday and short squeezes happen on Friday.
- The chart shows aggressive buying by the momo crowd and short squeezes leading to a big gain.