Market Notes for 5/8-5/12
Recap of last week:Last week, we predicted that the market would chop or grind up in the pre-FOMC period, and then sell off after FOMC/Apple earnings were over. We anticipated that we would have an exhaustion gap up after Apple reported, but the market had other plans. The bank crisis came into play again and dragged the market lower, with tech being strong. However, the market bounced back hard on a short squeeze on Friday pretty much the same playbook as previous drops from bank drops.
Economic Calendar/Important Earnings for the week: Inflation data week but since banking crisis, inflation data has been that volatility anymore.
Monday
Keep reading with a 7-day free trial
Subscribe to TT3’s Newsletter to keep reading this post and get 7 days of free access to the full post archives.