Most financial news media will try to find a reason for every price action, if you follow it I guarantee you will be lost and confused in a few months.
Short term: market sentiment
Long term: fundamentals
Bull-bear spread on AAII shot up and a lot of people turned bullish in a short span of time since the June sideways correction. I invite you to check it out and correlate it with the S&P500 yourself to see how accurate short term price actions is correlated to market sentiment, should you not believe.
Remember, market moves opposite to where most investors/Traders feel it’ll go. Taking a contrarian view is important. Many great investors have talked about this before.
“Be greedy when others are fearful, fearful when others are greedy.” - Warren Buffett
Some books to read:
1. The Most important things - Howard Marks
2. One up on Wall Street - Peter Lynch
Some YouTube channels: Alessio Rastani, Adam Khoo.
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It was because softbanks was buying plenty of options from different tech stocks.
And that means that brokers would have to purchase stocks on behalf of softbanks.
And when sofbank makes a move, the market follow suit. Because what softbank is doing involves a huge huge huge amount of money.
Also cause so many tech stocks are so overvalued, correction is due to come one way or another.
In my humble opinion, this is not the end yet haha.
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