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Newsletter
The rally continued this past week, spurred higher by Nvidia's blowout earnings report Wednesday night. After a brief test of the 20-DMA, the market surged to new all-time highs on Thursday, confirming the ongoing bullish trend. As shown, the 20-DMA continues to act as crucial support for the market.
Newsletter
The market rebounded mid-week from the disappointing inflation report but stumbled again on Friday after producer inflation. The market's momentum remains strong, and investor optimism is very high. The only question is what causes a short-term correction to reduce the deviations between the market and the 200-DMA, as shown above. Stocktrader's Almanac provided a clue.
Economics
Regarding the surprisingly strong employment data, Fed Chair Powell said the quiet part out loud. The media hopes you didn’t hear it as we head into a contentious election in November. Over the last several months, we have seen repeated employment reports from the Bureau of Labor Statistics (BLS) that crushed economists’ estimates and seemed […]
Invest
A funny thing about bull markets is that investors develop a very short memory about the previous bear market. Such is why cycles repeat throughout history as lessons must be learned and relearned.
Newsletter
Last week's newsletter discussed the ongoing bullish trend of the market. That unstoppable advance, driven by the mega-capitalization stocks on Friday, topped the psychological 5000 level on the index. With the strong momentum carrying that particular group of stocks, the index will likely try to push higher over the next few days. However, as shown, the market is back to more extreme overbought levels, and bullish sentiment has reached "greed."
Invest
A funny thing about bull markets is that investors develop a very short memory about the previous bear market. Such is why cycles repeat throughout history as lessons must be learned and relearned.
Newsletter
We have discussed the need for a market correction over the last few weeks. On Wednesday, the FOMC statement sent the stock lower as Jerome Powell eliminated the possibility of a rate cut by March. However, a stellar employment report on Friday, which would suggest the Fed stays on hold longer, sent the market surging to all-time highs.
Newsletter
The MACD "buy signal" is firmly intact, although at a high level, suggesting the bullish bias remains. While the market is overbought in the short term, corrections will likely remain mild with 4800, where the market broke out, remaining essential support.
Daily Market Commentary
We recently published Part Two of a series comparing inflation in the 1970s to today. Part Two discusses the price wage spiral that helped fuel higher prices in the 1970s. To wit- “In the 1970s, workers demanded higher wages to offset the rising cost of living. Simultaneously, business owners, having to pay higher salaries, responded […]