In today’s briefing:
- Is the Relief Rally Over?
Is the Relief Rally Over?
- Nvidia blew the doors off Street expectations last week, but the market reacted with semiconductor stocks turning red on the day. Is the relief rally over?
- We conclude from our review of technical conditions that while breadth indicators argue for a deeper correction, that day may not have arrived just yet.
- Sentiment is too bearish and should put a floor on stock prices in the short term. The relief rally probably has further room to run.
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