Above is last week's post for those who missed it. It appears last week the poll was wrong and 4100 was met!
Strong week for sure. I surprisingly didn’t see it coming despite knowing trend-following CTAs were heavily short. Surprised with the fed’s decision and AAPL 0.00%↑ performance to say the least. Mega-caps reported poor results yet all rallied.
Equity strength was aided by a weaker dollar and shorts desperately covering in unprofitable tech/high beta names.
The recent rally does seem very systematic.
Another decent week for earnings with the likes of BP 0.00%↑ , AMD 0.00%↑ , PYPL 0.00%↑, PINS 0.00%↑, MRNA 0.00%↑, MRO 0.00%↑, MELI 0.00%↑, BABA 0.00%↑, DDOG 0.00%↑ and DKNG 0.00%↑ reporting. I will share where I think we head next.