WALL STREET CHASES IRAN DEAL PUMP INTO JOBS REPORT, CHINA PUMP AHEAD
By Nigam Arora
To gain an edge, this is what you need to know today.
Stock Market Pumps
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 the stock market continues to rise.
- The chart shows volume continues to be low. The reason is the stock market rally is primarily driven by the momo crowd. This time, the momo crowd is not buying stocks; they are aggressively buying call options.
- RSI on the chart says the stock market has room to go higher.
May 7, 2026