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We have META (formerly Facebook) and other large cap techs leading the Nasdaq higher early on, while chips are soundly red and the likes of ARKK lag behind. Regarding META itself, I see $250 just above spot price to see if we have the makings of a new uptrend or, instead, the final pop before a new leg down commences. 

Overall, my sense is that we could be in for more day-to-day whipsaw like we have seen into the FOMC next Wednesday. This morning's economic data smacks of stagflation, meaning sticky high inflation coupled with slowing or even contracting growth. 

But with the indecision not just in stocks but also rates reigning supreme, the main point is that we are building energy towards an eventual violent resolution. 

Also keep an eye on NFLX for some post-earnings continuation weakness as a short idea below $320.