MARKET DAILY

Midday market 06/07: Tech breaks down, small caps rally balances cash flow between sectors

Bank of Canada unexpectedly raises interest rates to highest level since 2001 while "Soft Landing" creates confidence for the stock market

Steve Le
Steve Le

IWM continues breakout for 2nd consecutive day with money flow rotating out of tech

Hopes for “Soft Landing” ahead of FOMC is the market highlight in today's trading session as panic buying is evident in Russell 2000 since yesterday with IWM pushed past call wall 185 right from the morning open with mega cap tech weakening significantly as investors begin rotating money flow out of overbought stocks.

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