As we noted yesterday, the gamma wave of buying that led to the massive over extensions in equities is now the same force leading them downward. This speculative fervor driven mainly by levered speculating players works swimmingly well as we rise in perpetuity, however when reversed always falls at a much greater velocity than the grind up. We are seeing a continuation in this today and dear readers, please note, the levels we are falling from are historical highs, so when we fall, 5 and even 10% or greater from these areas, its just a small dent in the overall theme.
However as human emotions take over many often panic and trade with a get out at any cost manner, especially new traders. So keep your wits and realize there is nothing wrong with taking profits and shedding risk and realize the markets can drop further than you think and further than your risk tolerances may permit.
OK, on to the markets right now, first up from Tradingview, the equities where the Nasdaq is leading the w…
