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There was a big divergence today between Tech and the SP compliments of Apple.
After the bell AT&T missed earnings, and Microsoft missed revenues. Starbucks was in line.
Intraday commentary in which I discuss the policy errors of the Fed in relation to consciously funneling monetary stimulus through financial firms and assets, bubble-wise.
I think the market is greatly overbought and would see a correction, but VIX remains extraordinarily low, so it would be shallow or at most a 'wash and rinse.'
It will take a macro event to break this ramping, and it might not take all that much given the thin volumes.
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