The stock market rally appears to be rotating toward tech growth plays after a long break. The NASDAQ hit a bear market closing low as recently as Dec. 28. But in 2023, the NASDAQ is up 6.4%. The SMH chip ETF has rallied 12%, the IGV software ETF 5.5% and the speculative ARKK 16.8%. This […]
We had December CPI release and banks’ earnings reports last week. The December CPI was falling as expected and the banks’ earnings were not as bad as feared, although the CEOs kept talking about “mild recession”. The sentiment continues to be bearish, but the price action is quite bullish. The S&P 500 cash index closed […]
Since the December FOMC meeting on December 13, 2022, the market has been thoroughly scared of the Fed’s hawkish rhetoric. The S&P 500 was sold off to make a bottom on December 22, 2022, right before the Christmas and New Year’s holiday. The market has been trapped for 9 trading days until the December Employment […]
The year of 2022 has been exceedingly difficult for the investing universe. The ending of an easy money policy era has been painful, to say the least. All markets have been terrorized by the Fed for the most part of 2022. According to Bespoke Investment, 2022 is the first year in the history of the […]
Since the exceedingly hawkish December Fed meeting, the market is still in sour mood even though the DOW remained above its 200-day moving average during the last week’s selloff. The NASDAQ is under attack by trading very close to its mid October low. The S&P 500 has retraced 50% of the mid October low to […]
The November CPI release and December Fed meeting occurred last week. The inflation data was better than expected, but the Fed was as hawkish as it could be. So the market sold off. During the post-meeting conference, the Fed Chair specifically mentioned the sticky wage inflation due to shortage of hourly wage workers. The Fed […]
