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

Nascent Rally

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

Note the following:

  • The chart shows that the nascent rally was in full bloom when Peloton news hit.
  • The news is that Peloton is stopping production of bikes and treadmills as inventory piles up.
  • Peloton by itself is not a systematically important stock. However,  is an indication of excesses in this stock market.   has fallen from $166.57 to $24.06 as of this writing.  At $166.57, almost every analyst had a strong buy on this stock.