US stock market continues to rally on Tuesday morning with buyers completely dominating the market all morning. Bonds yield drops sharply after extremely optimistic statements on interest rate policy from FOMC members, helping money flow back to value stocks which have fallen too much recently.
With shorts-cover rally/technical bounce from 4200 to 4300 ended, buyers push SPX to touch call wall at 4400 with buy volume completely dominating both NYSE and NASDAQ. However, above 4400, the market is “overextended” temporarily at least until end of Thursday when volatility from PPI and CPI reports disappears. Up to 12pm Central, money flow is still rotating quite evenly with mega cap tech temporarily weaker than the market.
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