The Moonshot Fizzled Out, Inviting Sellers Again
The reflexive rebound slowly but surely lost steam, rolling over into the close. The decline continued in the overnight session before a 3720-ish floor was established, indicating that the stock bulls are not yet out of the woods. It was indeed a good idea to take open long profits off the table yesterday for a quick 22-point gain in the S&P 500. Q4 2020 hedge fund letters, conferences and more Wednesday's Selloff Fizzled OutEarlier, I called for a reflexive bounce post the Wednesday selloff, followed by some sideways trading. Let‘s look at the charts, and update the unfolding game plan – woul...