Froth Off The Top
"Take a little off the top". That's generally how market participants are thinking about last week's "slippage" in US equities. Only instead of being a barbershop allusion, it's more of a cafÃ© reference. "Scrape a little froth off the top of this cappuccino, because this pile of foam is so high I can't get to the espresso". Or something. JPMorgan likens the Thursday-Friday selloff to the June 11th rout, in noting that the "sharp declines" helped "remove some of the previous froth in equity
2 thoughts on “Froth Off The Top”
SPX closed under the mjaor trendline
Depends on whether you are the scalper or the scalpee.