Weekly Introduction — Market commentary
Last week was OPEX week and I was looking for a steady drift upward in the indexes. This obviously didn’t materialize and that was a warning signal of underlying weakness in the market. Many times if OPEX week is weak (especially going in to it with bearish positioning and elevated volatility), that underlying weakness will show up the following week. Without going straying too far from the insider topic, it is clear that some technical aspects of the markets have changed, especially with regard to tech, and specifically the FAANGs,