New All Time Highs. Put Buyers Galore.
The S&P printed a fresh all-time high at 7,817 on Monday. SPY closed at 779.64, which is above the top of its own weekly expected move, a range that was pricing about 1.15% of travel for the entire week.
Category Market Outlook
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7 Out Of 10 Stocks Didn’t Get The Memo
The cubes closed Friday near $750, within a whisker of its highs. Meanwhile roughly 7 in 10 stocks are trading below their 20- and 50-day averages. Market halitosis at its best but nobody seems to care.
AI Momentum Trade For Mortals
NVDA closed the week at $234, poking above the top of its weekly expected move near $232. Friday’s candle faded from the open and it still held above the rail. Meanwhile implied volatility is sitting under 30%, which is about…