The summer pull back is over. All three indices pulled off a follow thru day on last Tuesday August 29 to declare the summer pull back is over. On August 29 morning econ news release, the job opening numbers softened which gave the street the confidence that the Fed is near or at the end […]
Originally we expected the market to correct all the way into October, where it is a typical place for a seasonal low. We had two major events last week. First, the Nvidia Q2 earnings report was a blowout quarter, but the market didn’t jump as it was under the Fed’s shadow. Secondly, the Fed Jackson […]
In our last blog, we concluded that a stock market seasonal high was put in place on July 27, a day after the July Fed rate hike decision. Last week all three indices continued the selloff even though it was oversold in short term measures. Last Friday all three major indices produced an intraday buy […]
The AI infused 2023 first half rally seemed impossible to stop. As the price momentum kept pumping stock market valuation to new heights, the fundamental bears were forced to concede bearish calls. The most adamant bear Morgan Stanley Michael Wilson apologized for his wrong-way bet in a note to Morgan Stanley clients on July 24. […]
The Fed spoke last week and nothing happened to the rally. The Bank of Japan may start a new monetary policy era that could affect the US markets, but so far nobody is worried. The earnings season has been good, most of the companies are beating earnings expectations. Everything looks so good that the sky […]
Prior to Netflix and Tesla’s earnings reports, both stocks were priced to perfection. As soon as some weaknesses were sniffed out, the sellers came in and pushed the stocks down. They were both very overbought and it was an impossible situation to please the investors. Will this type of negative response to mega tech earnings […]
