Meta Strategy Trading Portfolio – Probability Map Update.
Fireworks
Going into a long holiday weekend the anticipated summer rally is off to a lackluster start, but he first two trading days of July actually offer a constructive perspective: Fireworks were going off beneath the surface, which led to high intraday volatility, but the days finished virtually unchanged for the S&P 500.
As the bloated semiconductor sector got clobbered, this resilience is only possible, because the majority of stocks are actually strong and participating healthily.
The simplest heuristic to follow is: When the broad market is making all-time highs, the S&P 500 and the Nasdaq tend to quickly join the party.
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