The AAPL negativity did not have any influence on the uptrend.
The IWM/SPY ratio stayed rather flat, indicating that the price bounce is not related to growth hopes, but mostly to buying all equities.
Is it "money on the sideline" or freshly printed Fed money?
On the other hand, I could detect many stocks bouncing higher on a very negative EV pattern. The problem with shorting these stocks is that they move with the rest of the market and hence timing a pullback is really difficult.
Conclusions:
It is strange to see all equities moving higher just one week before the Fed announces QE unwind.
I might guess that everyone wants to front run the big tax cut proposal of the Trump administration.
Will we witness a sell the news type of move.
In the meantime, shorting broken stocks that are bouncing into resistance on a weak EV pattern could be interesting... but perfect timing is needed.
