During his press conference yesterday, Biden admitted that he chatted to Powell (about The Fed s independence ) yesterday. Are we seeing the result of that today?
All major equity indices suddenly exploded higher as the cash market opened with Small Caps the most ridiculous followed by Nasdaq and the S&P, all of which erased yesterday s losses. Some selling in the last few minutes took the shine off an otherwise perfect squeeze higher, with the S&P falling back into the red from Friday.
There was barely any net selling pressure today. this is one of the wierdest intraday TICK charts we have seen.
Here Is The One-Word Reason Why JPMorgan Just Raised Its S&P Target To 4,600
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Extremely Disconnected Energy Stocks Face Explosive Short Squeeze: JPM
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Our Bullish Conviction Is Now Lower : JPM Joins Major Banks In Turning Bearish On Easy Market Gains
by Tyler Durden
Friday, Apr 23, 2021 - 02:30 PM
On Tuesday, JPM chief global markets strategist and Wall Street’s biggest bull, Marko Kolanovic, said in a note on Tuesday that the recent pullback in areas like cyclical stocks and Treasury yields will soon prove to be temporary, and that in his view, the reflation and reopening trade will resume, with yields moving higher and rotation from growth, quality and defensives to value and cyclicals. Beneficiaries will include Energy, Financials, Materials, Industrials, small caps, high beta stocks, and various reopening and inflation themes.
Intrepid s decarbonisation effort solidifies leading position in responsible travel
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