To gain an edge, this is what you need to know now.
Preholiday Buying Begins
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows aggressive buying in tech stocks.
- The market is following the script of buying during the week preceding Memorial Day.
- The rally is especially strong because the market is coming off an oversold condition.
- Lately, there has been a strong correlation between bitcoin and tech stocks. A strong up move in bitcoin is also helping tech stocks.
- Many stocks are experiencing short squeezes driving them upwards.