AFRM - Rallying From S&P's 3800 Support Level Reveals The Bear Is Going On Summer Holiday - What's Next
- Friday's Rally is Significant, it signals the bottoming process.
- Market participants will be hunting for signs of lower inflation but we have perhaps even a month of a rally up to the June FOMC.
- This does not mean we won't see a retest of the lows, especially if this rally goes so far as to be overbought going into June CPI.
- I will continue to build my position in the mega-cap techs but spreading to the next tier of tech names.
- I will be keeping a closer eye on the 10-year and the VIX. The 10-Year needs to stay below its recent high, and optimally under 3%. The VIX needs to continue to fall to make this rally sustainable for the next several weeks.
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Rallying From S&P's 3800 Support Level Reveals The Bear Is Going On Summer Holiday - What's Next