The rotation out of Tech continued last week. Now a packed week headlined by Apple on Monday, Tuesday’s midterm elections, and Friday’s jobs report test a market with thin gamma and CTAs near their sell triggers.
Let’s chart the market to see how this trade has the potential to absolutely roar into the holiday, and what could throw it off.
A warning about AI growth may be the news needed for better action in the broader market.
Oversold conditions and positive seasonality look promising, but we still need price action to confirm a turn.
September lived up to its poor reputation, but October has a history of starting year-end runs, especially in midterm years.
Much of the market is already oversold, and the election may trigger a turning point.
Seasonal trends are turning bullish and that means the bears have something to fear.
We’re staying on the sidelines until we have more clarity on several macro developments.
Fallout from Meta’s Muse is hitting the financial sector.
Seasonal weakness is just about gone and tech could provide good motivation.
