Charting My Interruption (CMI): “A ‘Quiet Riot’ in the META-worse.”


  • The market's resilience despite META's disappointment confirms that it is just too oversold to make downside progress from here.
  • We reiterate our view that we are in for a sideways, choppy summer leading up to the election, and that investors are better off fading the market's most recent move in either direction.
  • With that, we expect a rally back to resistance, at which point we will be in a better position to reduce longs, add shorts, or simply hedge.

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