Microsoft, Google, Meta and Amazon reported Q1 earnings last week. All of them beat earnings expectations. The Street absolutely loved the hype around AI and voted Microsoft as the winner against Google in the AI dog fight. Some even said that Microsoft has had an iPhone moment in AI, meaning AI will be the new growth driver for Microsoft as if
The inflation data came, some earnings came and more earnings will come next week, nothing moved the needle yet. The market is truly in wait and see mode. The shorts and longs both are not making any money. There aren’t any sustainable moves on either side. The selling covered calls has been working but painfully slow. The same amount of trading
The inflation data came as expected last week. The market didn’t cheer the good decelerating inflation, but instead worried about recession. It’s really hard to get excited as the market is pretty much confused, different leaderships in different days. It’s very hard to find a long lasting bull market in any given sectors as the macro uncertainty has been
In our last Sunday blog, we talked about how the NASDAQ has been leading the rally. The triple bottom powered rally was able to hold the fort at the depth of the banking crisis. And the rally resumed after the banking crisis subsided a little bit. However, the NASDAQ can’t just take off from here because the value/cyclical sectors are going thru a bear market
Among the rampant bearish talks about banking crisis and recession, the NASDAQ led the market again last week. It definitely confirmed the March low as the seasonal low and a new weekly cycle has formed. This is extremely frustrating for the bears as there are so many reasons to be bearish. We don’t dispute the facts of the fundamentals, but we do see that
