U.S. equities rallied broadly, along with most of the commodity complex to include precious metals, as well as the long end of the U.S. Treasury yield curve. Only the U.S. dollar, which for the most part ran sideways, did not participate. Oddly, Bitcoin, or cryptocurrencies in general, rallied for most of the day on Monday,, and have sold off almost sharply overnight. Early risers will find domestic equity index futures trading modestly higher, and cryptos under some pressure.
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There was the 'momentum play' on Monday and not much else as portfolio managers resisted temptation to increase risk exposure.
The crowd is essentially entirely on the bear side of the boat.
While conditions appear favorable for a bear market bounce, let's not ignore the obvious.