It remains to be seen if we still settle into a summer range. But the persistent strength and health in a decent amount of breakout plays makes this tape is a tough nut for bears to crack.
Speaking of nuts, DMND is in perpetual short squeeze mode, as you can see on the first chart. You can only imagine how many hedge funders are out of position in that heavily-shorted name.
That said, homebuilder Lennar remains weak. I am looking to see if the “megaphone” bearish pattern I previously discussed resolves lower yet for a short entry.
Also note SEAC is another software firm in the new tech space, on top of an emerging leader like GWRE. The former looks like a nice breakout attempt today.
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