TRENDING:

Rug pull and what now

S&P 500 held up reasonably well during the regular session, but started to drift lower right after the closing bell – ES 6,850 area didn‘t hold, and selling quickly snowballed. PLTR earnings (solid beat and guidance) that were clearly faded, together with poor showing beyond Mag 7 (AAPL is but one example, META another – and where can stocks get without communications or financials anyway) offered another clue.

How about volatility metrics, do these agree with the steep selling premarket? VIX and VVIX give no sign of rising systemic risk, and bond market volatility is still trending lower.

Author

Monica Kingsley

Monicakingsley

Monica Kingsley is a trader and financial analyst serving countless investors and traders since Feb 2020.

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