HEDGE FUNDS INCREASING SHORT POSITIONS IN THE STOCK MARKET AS THEY BELIEVE AI RALLY IS OVERDONE
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
AI Frenzy
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 that the stock market has had difficulty rocketing through the resistance shown in red to the next resistance zone.
- The momo guru narrative is that the stock market has been constrained due to the debt ceiling issue and the stock market will rally significantly on the news of an agreement on the debt ceiling.
May 23, 2023