CNBC is horse manure. Fake news! SAD!
That technician would have had a pint and gotten over his skepticism during the weekend.
Quarterly contracts were rolled over from Jun to Sep. Volatility is typical. Have a look at the vix vaporub, which remained warm an fuzzy while the spoos were defanged (pardon the pun!).
Spoos also did a 50% retrace from the lows. Further, the lows was in line with monthly chart levels. Nothing atypical.
It's not algos driving markets higher. Markets need liquidity and that's coming from passive investments (direct result of economic factors). ECRI (which is the most reliable source) has declared May 2016 as the new market cycle.
Ok, there's still a probability that spoos may get sold bit more next week, but hey, it's not the end of the world.
CNBC is horse manure. Fake news! SAD! That technician would have...
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Last
7,629.0 |
Change
42.000(0.55%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 7,587.0 | 7,640.2 | 7,587.0 |
| XJO (ASX) Chart |