Futures displayed an upward trend on Tuesday morning after a downturn in the market the previous day, during which the Nasdaq Composite recorded its fourth straight decline in regular trading. The price actions from the prior day suggested a possible reversal, as short sellers began to close their positions and cautious investors opted to sell. Traders keeping an eye on the SPY ETF noted that the election gap had been filled, establishing new pivot low prices for reference. Meanwhile, QQQ traders witnessed a brief dip below 500, which was followed by a robust reversal, closing above 505. Although the initial 'Trump bump' has faded, Tampa Shores Capital (YTD 6.7%) sees a chance for its comeback ahead of Donald Trump's inauguration, urging buyers to maintain control above yesterday's pivot low as we near Wednesday's CPI report.
