To gain an edge, this is what you need to know now.
Front Loading Concerns
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart shows a relief rally in the morning. We shared with you in the Morning Capsule that the reason for the relief rally was good earnings from Tesla (TSLA), United (UAL), and American (AAL).
- The chart shows smart money fading the rally.
- The chart shows that smart money was selling throughout the morning. The reason for the selling is a concern about front loading of interest rates.