Yesterday's blog reads like a crystal ball:
"1. $VIX to plummet - now that the FOMC is set to remain on hold. Same as the ECB (this morning).
2. Microsoft to replace Apple - in an ongoing game of mag7 whac-a-mole.
3. Oversold Sectors - Semiconductors, and Big Tech to snap back." Link
South Korean $KOSPI snaps back 19.98% - in a historic short squeeze.
$KOSPI record close (+20%). $KORU (2X leveraged bull (+35%). pic.twitter.com/8hM2yVRYhF
— Veteran Market Timer (@3Xtraders) July 31, 2026
What helped drive it:
Asia is the star of the show:
Strong rebound in S. Korea. 🚀
— Veteran Market Timer (@3Xtraders) July 31, 2026
Wall Street is located in Manhattan, NYC, USA fyi 💩
CNBC is already casting shade on this rally - calling the S. Korean market "bi-polar", even though they know exactly who got caught in the latest bear trap - leading into a historic Friday short squeeze.
At the end of the day this looks like a bear rally in chips.
Getting a read on US markets - still a sideshow
This morning we're seeing some follow-through on yesterday's rally, led by $AMZN Amazon.
$BULZ (Microsectors 3X FANG Innovation Bull) The only leveraged ETF I could find that has Amazon as one of its top holdings. I could not find a single recent tweet regarding this fund. Do your own due diligence.
There's a decent chance the tech rally in the US continues on light summer volume.
$COMPQ (NASDAQ Composite) - watch the 25k level like a hawk.
Same goes for the 7400 level on the $SPX
P.S. I thought bond investors were supposed to be smart, but what we just witnessed after the latest FOMC decision was bond investors grasping at straws (still hoping for inflation to go higher).
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