The Power Of Positive Thinking
All anyone cared about on Monday was Pfizer's stunning vaccine news.
Invariably, you'll hear a chorus of warnings that reflation winners ran (way) too far, (way) too fast, but such voices mattered little in the heat of the moment.
Russell 2000 futures came into the cash session limit-up. By Monday afternoon, the small-cap ETF had outperformed QQQ by one of the widest margins in two decades.
What you see in the figure (above) is a session for the history books. Monday was among the best days
Wait! Don’t sell Peleton yet – won’t all those cruise ships need to stock their gyms with exercise bikes?
That final chart tells quite a story.
I better check JETS.
OMG. JETS busted through it’s 200 DMA. As did XLE and CCL. All on giant volume! Quick, call my broker!