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"First Real Buying In 3 Weeks"; Goldman Trader Explains Why Friday's Surge Is The Start Of The Next Big Move Higher

Tyler Durden's Photo
by Tyler Durden
Sunday, Jun 26, 2022 - 11:11 AM

Closing out Friday, a day which we correctly predicted would see a major ramp higher not just because of the market's overdue pricing-in of Fed rate cuts some time in early 2023 (or even late 2022) as well as extremely oversold market conditions, but because the market is starting to prepare for the massive month-end pension rebalancing which will see $30BN in stock buying...

... Goldman desk trader John Flood published a must read note (available to all professional subs in the usual place), in which he summarizes Friday's action and reveals why Friday's stock surge may be something more than just your garden variety dead cat bounce.