Cobra's Market View

RUT, RUI, RUA, RLG, RUJ
The Russell indices have their annual rebalancing Friday 6/25
“… investors and fund managers scramble to buy or sell shares to dozens or even hundreds of companies to reflect changes in indexes.  … During the event every year, volume surges near the close, often resulting in the biggest trading volume day of the year.”
Goldman Sachs expects 255 additions to the Russell 3000 and 295 deletions, and expects 57 stocks will enter the Russell 1000, including 34 currently in the Russell 2000. Goldman anticipated a total of 279 stock will enter the small cap index, comprised of 232 new components and 47 being knocked down from the large cap index.
https://www.reuters.com/business/invest ... 021-06-18/

$NYAD is still negative, should be positive by now. Hmmmm

Buy coupons

SPY 5. In a range.

Krispy Kreme (DNUT) … is looking to raise as much as $640 million through an IPO, according to a regulatory filing today, valuing the donut chain at nearly $4 billion
… plans to sell about 26.7 million shares priced between $21 and $24 per share
https://www.reuters.com/business/krispy ... 021-06-22/

QQQ
ATH

Yawnnnn. see you tomorrow.

Chart for the road: short term is overbought, and after two days of a dead cat bounce we might see a little down day tomorrow. Peace!

Testing day high, maybe it's an ascending triangle in the making.

Well, guess that's it for today. Here's what Wednesday tomorrow looks like: https://stockcharts.com/public/1684859/ ... /533449381

Thank you guys, I'll see you in another thread soon.

Before the close, please take a little time to vote for me, thanks: https://stockcharts.com/public/1684859/ ... /533449381