Right now on bass, a sizzling start to the summer stops ripping higher in July than

as I got more than 12% the S&P more than 9% and the down nearly 7% can the rally roll

on in August plus a Friday edition of Traded or Faded breaking down the earnings action

next week from farm equipment to coffee to mobile payments and later a chart of the week

because home improvement stock has gotten drilled this week at the hint falling nearly

16% will it keep getting hammered or can you nail a bottom if you buy now?

I'm Melissa Lee this is fast money life in the Nasdaq market site on the desk tonight

at Sea Grasso, Karen Feinermann Jeff Mills and Courtney Garcia and we start off with the

riveting rally on Wall Street the S&P jumping for a third straight day closing your ties

and locking in its best month since November 2020 the Nasdaq up a whopping 17% from its

June lows and take a look at some of the stock winners in July Etsy a 42% is

third best month on record Netflix clocking in its best months since January 2018

Ford and Amazon going all the way back to 2009 and 2007 respectively so with big tech

earnings and the Fed behind us as a momentum continue into August Jeff Mills what do you

say?

Hey Mel so I think the reality is this that we were kind of set up going into earnings

for a little bit of a rally I think expectations were pretty low if you looked at S&P futures

positioning it was very very short so the market was coiled for this bounce that we're

seeing but I think now all the sudden and not surprisingly as prices have gone up you're

starting to see sentiment shift again for the first time since April bulls are outnumbering

bears you've seen inflows into stocks inflows into high yield in pretty large numbers here

but I think the problem is is that right now you're only seeing 75% of stocks above their

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