To gain an edge, this is what you need to know now.
Heavy Buying
Please click here for a chart of Nasdaq 100 ETF (QQQ).
Note the following:
- In yesterday’s Morning Capsule we showed you that RSI was oversold. Please click here for the chart of ETF SPY. The RSI pattern shown on the chart was positive.
- Oversold markets tend to experience strong bounces. This is exactly what is happening today.
- Two pieces of news since today’s Morning Capsule are adding to momo buying.
- A second omicron case in the United States has been confirmed in Minnesota.