QQQs finished down 20bps today and was a mirror image of yesterday with highly shorted names rallying and mega cap stalling out. ARKK finished +3.3%, IWM +90bps, Crude +1% and BTC +2%. Highly shorted names were helped by yields taking a breather, down 7bps and also by PLTR’s report (a shorted/hated stock). A lot of SMID charts looking better after today (ex SNAP…)
Keep reading with a 7-day free trial
Subscribe to TMT Breakout to keep reading this post and get 7 days of free access to the full post archives.