Dead-Cat-Bounce Dies As Tech Leads More Market Turmoil; Dispersion Rivals Dot-Com Peak
Tl;dr: Yesterday's dead-cat-bounce gave false hope that Friday's fracas was a blip. On the back of no obvious (news/event/level) catalyst today saw tech lead the charge lower in stocks, dragging bitcoin and gold with it. Rotation was oft-cited in the downturn but dip-buyers stepped in to pull them well 'off the lows' by the close. Bonds were relatively benign (along with the dollar) as oil tumbled on yet another 'any day now' peace deal comment from Trump.
Friday we had 'good news' (from jobs) and stocks tumbled... yesterday meh macro and stocks bounced... today 'good news' (from housing) and stocks tumbled again?
