Traders Get Temporary Lyft But Need an Uber Rally: Taking Stock
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Tuesday was nothing to write home about.
Bulls were likely encouraged that the bottom didn’t continue to fall out, but we can call a spade a spade. It was a relief rally whereby the highs barely sniffed Friday’s lows. So it’s a bit early to breathe a sign of relief on trade concerns, despite some of the valuation signals that may be flashing buy. Every sector (save utilities) ended in the green, but it’s safe to say the day turned out quite a bit different for those who sold with about an hour left to go in the session. Probably a wise bet given the potential for trade spat vitriol to emerge at any given time overnight.