FYI: It’s days like this where the major US equity exchanges should take a page out of the fixed income market playbook and just stay closed on bank holidays. It’s bad enough that stock traders all have to work while their fixed income counterparts enjoy the three-day weekend, but to come into the office for this? Thanks a lot! Looking at the chart of the S&P 500 following today’s decline, it is now back below its downward sloping 200-DMA and has erased more than all of its post-election rally from last Wednesday. Big rallies followed by even bigger more drawn out declines is not something you would normally associate with bull market behavior.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/what-election-rally/
