The market is once again bouncing back from intraday weakness. This pattern of strong finishes after early softness is starting to become a bit obvious, but perhaps before we finally see a pullback there is a short-term push higher to inflict max pain on the underwater hedgers and top-callers here.
Another persistent theme is the outperformance of the small caps in the Russell 2000 index versus the lagging tech sector. Note both sector ETF’s below on their respective 30-minute timeframe. Being precise with longs is key here, as the market is becoming increasingly selective and we are seeing rotations seemingly on a daily basis.
_______________________________________
_______________________________________
