The Archegos EffectWith todays rally from the lows, investors dumped oil and ran to tech.
ARKK Finally hit bottom in search of hope?
SPY is in harmony at 370/380. Key Area support at Archegos event horizon.
This is setting up to be a short squeeze higher in tech for names like AAPL
China Tech names have been channelling higher with names like TME riding the top +2 STD Dev.
Check out the hat trick on tops since Archegos. China Tech, then Qs, and finally the RR.
Qs bouncing off the same China Tech lows as RR hits resistance.
WHY?
You know me. You down with GDP?
Be prepared. July 13th AM is major VANNA/CHARM window of weakness.
While VANNA/CHARM are on vacation in San Francisco. VIX and SKEW will no longer be Hang Dia.
