We are setting up for a mammoth-sized squeeze.
Tech has yet to show that it wants to lead this bounce, and the market needs it to lead...
VIX nearing major resistance going back to 2020.
T2108 not showing nearly the weakness the indices are showing.. further amplifying that this is more about the mega caps.
COST post earnings pullback to the lower channel band.
Nasdaq 100 $QQQ downtrend remains in place. Watching to see whether price can push through the 5-day moving average and declining resistance.
Big tech continues to be the biggest market loser of late.
The % of stocks trading 2 standard deviations below their 40-day moving average reached a significant extreme this week.
Retail overwhelmingly stepping in today to support SPY at the 200-day moving average.
I was honestly skeptical this would actually happen.