Ethereum Erupts, Small Caps Soar As S&P Breadth Reaches Record High

The tsunami wave of monetary and fiscal profligacy combined with an orgy of optimism about vaccinations and a post-COVID world, have sparked the broadest rally in the underlying components of the S&P 500 in history… (487 names on the S&P 500 Index have climbed above their 200-day moving average)

But it was Small Caps that dominated today (after collapsing yesterday). Nasdaq lagged but all the US majors were higher and thelast 30 mins saw the ubiquitous buying panic.

Interestingly, the bounce in Small Caps occurred at a key level relative to The Dow.

It doesn’t take a rocket scientist to figure out what happened… as yet another short squeeze was engineered.

COIN continued to fall.


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