Last week, the Finance Twitter newsfeed produced an embarrassment of riches. Just to enumerate the highlights:
- Nancy Pelosi visited Taiwan and sent the CCP into a frenzy
- The jobs report blasted consensus, making way for more Fed hawkishness
- Amazon bought Roomba, completing it's conquest of your home
- Michael Saylor stepped down as CEO of Microstrat to work on Bitcoin full time
- BlackRock announced it will now offer bitcoin trading for institutional clients
Which of course bears not at all on the state of technicals. But it does appear that Friday's jobs report was the narrative capstone to a rally in the Nasdaq, that by all technical standards has reached very overbought levels. Is this the point of exhaustion, in the near term at least, for the counter rally?
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