The Nvidia led AI market rally just wouldn’t die! The old economy DOW index finally joined the game after the good employment data was released last Friday. Now the DOW and small cap Russell 2000 are waking up to the AI rally. The synchronized rally has more gas left in the tank! From seasonal cycle perspective, the current rally should last until late August
The stock market rallied hard last week when both sides promised no default, yet without any details. The S&P 500 briefly took out hard resistance at 4200 but it was promptly rejected due to the uncertainty connected with debt ceiling fight. The primary force in this rally is from the AI hype. The NASDAQ 100 took out its August 2022 high, which looks as if
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
