Monday, May 18, 2020

No 'Big' Surprise

Per last Thursday's note, while this morning's rally feels big, there's nothing really shocking going on today:
“Stocks are attempting a threepeat daily selloff, although they're coming off the lows a bit as I type. Make no mistake, even if we are now embarking on the next leg lower, along the way the market will be met with some aggressive buying, and, therefore, impressive intraday (and all-day/week/month/months) rallies as (along with occasional spike on the market-pumping headline) technically-inclined bullish traders rush in to battle the bears at previously-established support/resistance lines."

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