Good afternoon - QQQs finished flat on the day. Beats continue to be rewarded while misses are getting hit - seems like pretty rationale px action to us. However, some good price action in large cap as I’m seeing a pattern of consensus longs crawling back EPS losses: see META, NFLX (now at same px before EPS), and DDOG nice move today following move down yesterday. Will UBER be next? Overall, px action dovetails with upward trending choppy market type action. Momentum outperformed on the day while non-profitable tech was the big loser.
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