Testing, testing – one, two, three. The market undergoing several tests. S&P 500 testing last week's lows,testing its 50-day average, tech in general testing pre-August-meltup levels and the overall tape being tested for its ability to withstand the corrections in mega-cap growth.
So far the broad market is hanging in there, but tenuously. Similar pattern from the past couple weeks: The average stock holding up OK, economically sensitive groups showing strong relative performance, even as the big-cap indexes feel the pressure of selling by investors over-committed to the growth winners.
Pro Mimosa's and avocado toast doesn't sound bad rn.
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Mike Santoli's market notes: Dip buyers are back, Tesla up 19% in 2 days, IPO feverPre-Fed upward drift, dip-buyers emboldened by the lack of any macro stress, and the resurgence of hot-money are keeping things green for now. Pro When does Cramer get fired? Pro Fire Cramer. NOW! Pro Fire Jim Cramer. He would have never said this to a man.
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Mike Bloomberg's investment in Florida could decide the election outcomeArick Wierson writes that Michael Bloomberg's promise to invest $100 million to support Joe Biden's campaign in Florida shows that he may be more powerful in politics as a donor than as a candidate or elected official. Moreover, Bloomberg has political savvy unmatched by other donors. Opinion These historic peace deals by realDonaldTrump and SecPompeo should be on the front cover of every newspaper and leading in all prime time tv but the hateful partisan media will not report facts and anything positive about our President 😡🇺🇸 TrumpLandslide2020 Opinion Excuse me. That amount of money would be better used to help a great amount of people in need of food, shelter, medical care, mental health care, rent, car payment and insurance, Jobs, and the list is never ending Opinion Well Mike Bloomberg donated $1B to Mike Bloomberg’s campaign and that went over like a lead balloon so........
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