Looking for Value in All the Wrong Places

The algos are pleased with themselves this morning, pumping futures 30 points higher on the fact that VIX crashed over 7% overnight.  At one point, the SMA20 was only 5 cents below the SMA20.Friday’s dip didn’t quite reach our 3730 backtest target – which, ironically, leaves the door open to an even lower low.

Can big bank earnings convince investors to continue overpaying for stocks?

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