To gain an edge, this is what you need to know now.
Shell Games
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- The chart shows that heavy buying in the morning has prompted selling into the strength.
- The momo crowd is becoming more aggressive in buying stocks. They are encouraged by the following:
- Blind money is pouring into the stock market. We discussed this in the Morning Capsule.
- The most favorable seasonality period for the stock market has started.
- The momentum is up.
- Biden and other leaders claim that they are close to passing the $1.75 trillion Build Back Better bill.