The Reversion to the Mean Trades Worked Great Today
Many times, the biggies that have earnings, if they open up, trade back down to unchanged, as traders want to “flatten before the close”. It worked great today in LRCX, META, and others.
Many times, the biggies that have earnings, if they open up, trade back down to unchanged, as traders want to “flatten before the close”. It worked great today in LRCX, META, and others.
Today the S&P and VIX gave important cues for the bulls. While earnings season is still underway, the S&P managed to get above a key level while the VIX manage to get back down below another.
In this video, Chris Brecher examines the market’s rebound from oversold conditions, posing the critical question: Will the markets break through resistance levels or resume their downward trajectory?