Algos continue to prop up stocks. This morning, VIX tested its 200-day moving average yet again, setting the stage for SPX to join ES in completing a golden cross. It will either be a springboard to new highs or, as we discussed on Tuesday [see: The Big Picture], a nasty headfake.
It’s another moment of truth for stocks which seemingly everyone agrees are way ahead of fundamentals.
continued for members…
Sorry, this content is for members only.Click here to get access.
Already a member? Login below… |