12Oct10:46 amEST

This Bull Market is an Idea, Not an Organization

The current market has become so bullish that the mere idea of an upcoming event, be it an AMZN Prime Day, AAPL Day, a potential Stimulus Deal still in limbo, an Election, etc. are all viewed through the lens as advancing the bull thesis for higher prices. 

When it comes to high-flying tech, at least, this tape is kind of like the mirror image of the late-stages of the 2008-2009 bear market, where seemingly each bit of news, headline, prospect was seen as bearish and sent stocks cratering lower. Eventually, the feedback loop breaks, be it negative or positive. 

But as long as the any-news-is-good-news mindset persists, looking at recent IPOs like PLTR SNOW, respectively below on their newborn daily charts, is likely correct as potential longs. SNOW plowing up through $250 is probably key to sustain a pop, and PLTR is flagging tightly the last week or so. 

Weekend Overview and Analysi... Kafkaesque Rally

 
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