The market disconnect is flexing in today’s session as $SPY is up 3% off yesterday’s lows in the 200’s. The ETF sold off in Friday’s session and continued that sentiment into Monday morning trading, only to reverse and squeeze shorts for the past 2 days.
The ETF is about to test Thursday highs during the midday session; currently up 3 points on the day.
Are we looking at another last ditch effort into the last trading day of June before the boys on the Street pull the rug out from under unsuspecting market participants?
You know how the boys are notorious for these types of sudden moves – a.k.a. ‘traps’.
Remember, it’s chess not checkers.
Sectors are trading bull strong across the board in today’s session. RE has been taking a beating lately, but is now leading the bulls, trading up +1.72%. Utilities are pulling up the rear, but still green; up +0.23% in the midday session.
Our top 10 Smart Money Movers are:
$XLNX trading up over 7%
$TSLA trading up over 7%
$MU trading up over 5%
$GSX trading up over 5%
$LRCX trading up over 5%
$WDC trading up over 4%
$AMD trading up over 3%
$SPOT trading down over 2%
$BA trading down over 5%
$JCOM trading down over 7%