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NKLA - Biden's Withdrawal May Cause Selling Clearing The Decks For A Rally
Nikola Corporation
2024-07-21 22:26:30 ET
Summary
Stocks may not have priced in Biden withdrawal, the potential for a further -2% or more for the S&P 500 in the first 3 days of the week.
Market may need a 7% flush, VIX above historical norms. The market is already in a rotation of sectors, and that creates fragility in the indexes.
At the time of this writing, the Futures were up strongly. I would caution trusting that the futures portray the true direction of the market this week.