6/8/2026
A market bounce after the big drop Friday was ex[ected. I doubt it is over given the strength of the bull market to date. Look back five days.
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Notice the big move up June 4. Then mood dramatically changed, those same tech stocks that were loved the 4th wer thrown overboard the 5th. otday the 8th, teh market bounced and then returned to below the Friday low.
A different short term picture emerges with SOX, semi conductors
SOX gapped down Thursday in a prequel to the Friday gap down. All of a sudden no one wanted to own semis. A gap up occurred this morning with little follow thru the rest of the day.
I read one analyst today who suggested 'investors' I would call gamblers at this point, would sell Mag 7 stocks and buy Space X this Friday. Let's go back 10 days. The Mag 7 selling began May 18 for Google Alphabet. You can see I had labeled the five waves up even then, no not today.
Best guess is a messay sideways affair going into the end of the week.
Silver was unchanged after its sell- off Friday but I expect it to begin falling once more.
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