We'll see here how the first PB goes here. That pop reminded me of maybe 4/9 (not completely sure) but small caps popped something like 15-20% in like 20 minutes and then faded if I remember and chopped around after that for a week or two. This wasn't as extreme but similar
Find it interesting that this selling is coming before Powell speaks on Friday. Are people just getting out the door early? Is this seasonality taking hold? Just seems odd timing several days before his speech.
Not sure if we'll have another snoozefest today like Monday but it kind of feels like market is simply waiting for the Powell speech Friday to know what is going to happen with interest rates going forward. The good CPI then bad CPI really threw some investors.
Leading names not acting great so far - seeing either slight breakdowns (META, MP) or pretty big fades (GEV, NBIS, HOOD, PLTR). Feels like many of these are setting up for deeper pullbacks along with MSFT, ORCL.
If the huge small caps move was based solely on rate cut hopes, will be interested to see if this PPI # truly pops that balloon or if the dip is bought there. Also curious to see if some of the small cracks in some leading names yday (HOOD, GEV for instance) get bought or not.
Fun market, right? Maybe they can just fire the CPI/PPI numbers guy and that will fix everything. Was wondering yesterday if that small gap on IWM would need to be filled - might find out today.
GEV and HOOD were two of the big five to seven names over past few months that never seemed to stop or breakdown - true leaders. Both down today a decent amount with no news.
I have no idea why - maybe cause almost everything I had entering the day has been stopped out already - but feels like we could get a rug pull here soon. In no way is market acting as well under the surface today as the indexes are showing. HOOD, NBIS, CRWV, GEV, OKLO
For as good as SOXL and IWM and TQQQ look right now, I am not seeing it on my screens - maybe my list just sucks but I'm just seeing fades for most part. GEV, NET, RGTI, ACHR, OKLO, AEO, etc.
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