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What was obvious a week ago that Omicron probably is not as bad as investors perceived (definitely not worse than the Delta variant), and FED tapering no longer matters, everybody started chasing the markets again.

Last two weeks investors were selling everything. Today, they are buying it back at higher prices. Many are screaming “buy! buy!… turn those machines back on!” as they feel the fear of missing out on this rapid recovery.

As I said before, if the support at $4550 holds the trend will resume:

SPX support

The support held and investors started panic buying:

SPX panic FOMO

Just Nasdaq jumped up over 3% today! And more investors who were in disbelief today will be rushing in tomorrow.

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