The US Treasury are engaged in their own form of QE now, in the form of a 4B buyback this morning.
Way too much concentration in the Mag 7 stocks and creates a systemic risk to the market as a whole.
Semiconductors are showing weakness and Tech is following.
T2107 showing the percentage of stocks above their 200-day moving average currently.
Walt Disney (DIS) has made a nice move so far this week, but I'm not trusting it.
Even with the expectations of possibly 3 rate cuts before the end of the year, mortgage rates have barely budged.
Technology is even diverging from Semis which is an interesting development.
Nasdaq 100 (QQQ) has established itself a new rising channel.
Huge improvement that was much needed on the T2108, with 55% of stocks now above their 40-day moving average.
Huge divergence of China exports to US, while their overall total is higher than ever before.