There's another big deviation between $SPX and $QQQ this morning. The Nasdaq- $QQQ is down 5.5 points while $SPX is almost flat. We're seeing more weakness in AI/Memory stocks while $AAPL$GOOGL$MSFT$GS are higher. There's a clear rotation for now so be careful buying the dip on Chip/AI/Memory until we see a bottom actually form. CPI data is coming out premarket tmrw. This will help determine if we get another rate hike at the end of the month so most likely we see another consolidation day today. $MSFT to 550 in play, $AAPL to 350 can come as well. $META 750 has been a tough level to break out above lets see if it can get through this week. The only way $QQQ looks better if it it moves red to green today and reclaims 748 by Friday. Don't overtrade today. The real move comes by Thursday. Good luck everyone!! 🫡
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3 Comments
Dany @danman · 11d
👍👍 thanks
Diamond Trader @diamondhandstrades · 11d
Nice 👍
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