Overnight and the close: Tokyo bounced 2.3%, but it's still 17% below its peak.
→ The Nasdaq 100, down 6.4% on Thursday, recovered 1.4% Friday, only a fifth of the loss
→ Friday: S&P 500 +0.3%, Russell 2000 +0.9%, VIX down 9% to 25.6, 10-year yield flat at 4.86%
→ This morning: S&P futures +0.4%, Nasdaq futures flat, gold +0.9%, Bitcoin −0.8%
I think this bounce is relief, not a reversal. Worst case: if the Nasdaq 100 falls below Thursday's close of 26,630, that day's sell-off is back on; I'm watching.
#Stocks #Economy
Watching: $QQQ $SPY $IWM
→ The Nasdaq 100, down 6.4% on Thursday, recovered 1.4% Friday, only a fifth of the loss
→ Friday: S&P 500 +0.3%, Russell 2000 +0.9%, VIX down 9% to 25.6, 10-year yield flat at 4.86%
→ This morning: S&P futures +0.4%, Nasdaq futures flat, gold +0.9%, Bitcoin −0.8%
I think this bounce is relief, not a reversal. Worst case: if the Nasdaq 100 falls below Thursday's close of 26,630, that day's sell-off is back on; I'm watching.
#Stocks #Economy
Watching: $QQQ $SPY $IWM
