The NASDAQ bounced sharply from its prior support level around 14200 last week. The dip buying crowd successfully plugged the hole. Now it looks like the NASDAQ will march on to attempt 16000 in the next 4-6 weeks. Underneath the raging indices, there has been a rolling correction since early 2021.
In our last blog, we projected that the bank stocks would fall in the direction of cycle regardless of their earnings report. They did fall after earnings report. BAC is the weakest and MS is the strongest in the group of BAC, C, JPM, GS and MS. The banks are making money, but the market […]
Last week was a short trading week due to the 4th of July holiday. Even though the three indices closed at a fresh all time high weekly close, but the intra-week trading had a drama on Thursday, which some concluded as a technical correction as the 10-year treasury yield went dramatically lower against the expectations […]
Last Friday the DOW closed precisely above the high that occurred on May 7th. While the S&P 500 and NASDAQ were in breakout position, the DOW was indecisive until now. This means that all major indices are now in sync and going up together. This bull market is truly powerful and amazing. You need to […]
The NASDAQ led the rally post-COVID. It peaked in February 2021. The NASDAQ has been range bound 2/16-6/21/2021. The DOW took leadership (growth to value rotation) from February to May. Now the NASDAQ is breaking out and taking leadership. The week of July 5th remains a key point in time
The much anticipated June Fed meeting was finally over. The Fed spoke clearly about what we have known for sometime. The re-opening is doing well thanks to the national vaccination efforts. Inflation is running high, but the the Fed is not raising rates and not tapering. The Fed could be tapering sometime down the road, […]
