Fade Today's Record Move: BTIG Warns Momentum Bounce Hits Key Resistance

With the Goldman high beta momo index (which is for lack of a better name all the memory and chip stocks that trade with zero fundamentals and are a daily gamma meltup or meltdown), sliding below the 200dma and dropping to the lowest level since January, reaching the most oversold level since last August, it was only a matter of time before it bounced.