friday wrap
market vibes
March 28…)
“A home opener is always exciting, no matter if it's at home or on the road." Yogi Berra
Distaste for the Mags dominated stocks today. QQQs fell 2.7%, MSFT fell 3%, AMZN, NFLX, GOOG fell 5%. It was a bone cruncher and as I often like to say, bell to bell. NDX futures (chart below). The tale of the tape in hourly data.
Gold in hourly data tells the tale of the tape… Money goes where it’s well treated.
Silver was predictably weak all day. This was the last important SLV Option expiry until April 17.
40 mm shares (ounces) struck between $30 and 33 due to expire April 17. SLV settled at 30.99 tonight so they slipped under th $31s today…
To sum it all up, copper stepped back today, but not for long. We have some clarity in crude. Bonds can take a punch, bitcoin is on the ropes. The dollar and my vibe on life after April 2… here we go.
