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 […]
The 10-year treasury yield fell below 4.0% and the DOW decisively bounced off its 50-day moving average last week. The good inflation data saved the day! The DOW successfully prevented a double top confirmation, therefore the S&P 500 and NASDAQ were able to press higher last week. The big banks earnings were not horrible and […]
The unrelenting hawkish messages from the Fed coupled with a strong ADP employment report caused the market to selloff last Thursday and Friday. The 10-year treasury yield closed at 4.05% last Friday, the highest close since early March 2023. The cyclical sectors in the stock market have not been affected by the higher rates
The NASDAQ closed the first half of 2023 with a bang. Apple contributed significantly to the NASDAQ’s gain. Apple is the epitome of safety stocks. Apple still is growing, albeit at much lower pace. But the supreme balance sheet and the buyback of stocks made Apple stock a defensive and offensive play at the same […]
The bulls have been in control in 2023 against the backdrop of an inverted yield curve and the regional banking crisis. The market has all the bearish reasons to go down in 2023, but it didn’t. It is perplexing for the diehard bears, but at the end of the day, one has to respect the […]
The much anticipated Fed June meeting came and the market brushed off the Fed’s hawkish stands of two more potential rate hikes down the road. The bullish momentum just kept going as if the Fed was irrelevant. The Fed spoke clearly that there is no rate cut in 2023 and quantitative tightening is ongoing. Despite […]
