The Teflon-market action continues as the SPY held on to yesterday's big gain and the QQQ quietly notches a new 2011 high. Given the risk of negative headline news over the weekend, the market did very well today. Traders have learned that this market has a strong tendency to continue to run up and overbought conditions tend to become even more overbought. Bulls probably have the edge again Monday as we head into month end seasonality, but after the close the USA debt ceiling talk broke down again and a lot hinges on an impromptu Obama Saturday morning meeting.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
