To gain an edge, this is what you need to know now.
Oxymoronic Narrative
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 very aggressive buying right after the regular session open.
- The chart shows that buying accelerated as the new oxymoronic narrative took hold.
- In the Morning Capsule, we shared with you that jobless claims were higher than the consensus and retail sales were also higher than the consensus. The momo gurus have stitched these two pieces of data together to come up with an oxymoronic narrative to run the stock market higher.