Monthly Archives: March 2024

The Unrecognizable Fed Chair

The March Fed meeting came last week.  The Fed Chair Powell shocked the investing universe by abandoning the strict inflation fighting strategy.  Fed Chair openly voiced his tolerance for higher than 2% inflation, and he also addressed the needs to slow down quantitative tightening.  The dual easy money approaches do make people

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Momentum Not Broken by High Inflation Data

We had back to back February inflation data last week.  The February CPI (Consumer Price Index) was hot, but within expectations.  The February PPI ( Producer Price Index) was much hotter than expected, 0.6% versus expected 0.3%.  This high February inflation data was built on the hotter than expected January inflation data. We now have a two-month trend

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The AI Top Pending Confirmation

Finally Nvidia stock’s unrelenting upward momentum met resistance last Friday.  The key reversal day in Nvidia stock trading could mark the AI top for the time being.  In order to call this an intermediate top in this AI led rally, we need follow up.  The market needs to follow up with weaknesses in the next 2-3 days.  Next Tuesday we will wake up to February

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Nothing is Wrong Right Now

It really feels like that nothing is wrong with the stock market and the rally should continue to infinity.  The Fed is done with raising rates which was declared during the December 13 2023 Fed meeting.  There are debates about the timing and magnitude of rate cut, but the consensus is that the Fed put is in place, meaning if and when something

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