To gain an edge, this is what you need to know now.

Momo Buying

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

Note the following:

  • This morning, we shared with you the concern arising out of Home Depot (HD) earnings and retail sales data.
  • As the day progressed, more investors began to see that the earnings models of stock market analysts may be wrong.
  • The chart shows smart money selling.  Smart money is always trying to protect.
  • In contrast to smart money, the momo crowd has no fear these days.