Amid Wednesday's broader market decline, look for a nice rally in the Diamonds as we close out the week.
The Insider Buy/Sell Ratio/Rydex Ratio dynamic widens.
Now, that we have confirmation from the Nasdaq Composite, I think we can say equity markets are indeed back in what I would consider an uptrend.
This is not just simple retail demand for the FATMAAN stocks.
Index charts remain in uptrends, but overbought conditions are in place.
The idea of strength remains well entrenched in the charts of the S&P 500, Gold, Nasdaq 100 and Russell 2000.
With the S&P 500 moving, this is a name I think has potential to run hot next week.
A pause/consolidation for stocks looks more likely now.
Where the market stands after President Trump's surprise tweet.
This is the same sort of rotation that we saw in early September.