Wednesday, December 1, 2021

Charts of the Day: Media Needs An Excuse...

Just sayin, media needs an excuse, and it matters mostly short-term and at the margins.


"The Dow Gives Up 500-Point Rally On News Omicron Hits US"

Well, the shaded circle captures roughly when that headline hit (today's Dow chart):

So, nope... As we've pointed out, the technical setup right here is somewhat suspect, and, as I mentioned this morning, there's the interest rate sensitivity of the sector that pretty much dominates the major averages (tech) -- although yields have rolled back over, for the moment...

Here's today's chart of the Nasdaq 100 Index:

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