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Hey everyone, I hope you had a great week, here's a quick recap of last week's plan. Equities lifted off after PCE met expectations on Thursday, and really broke out after ISM whiffed on Friday. The S&P 500 finished +1.0%, and the Nasdaq 100 +2.0%. You may not be shocked that equities are still trading in the same channel we have been tracking all year. But … [Read more...] about Weekly Update – March 1st, 2024

Hey everyone, I hope you had a great week, here's a quick recap of last week's plan. Equities exploded after Nvidia's earnings, the S&P 500 finished +1.6%, and the Nasdaq 100 +1.4%. It's a little surprising that the Nasdaq 100 underperformed the S&P 500 despite Nvidia being more concentrated in the Nasdaq 100. I'll explain later that this could be due to … [Read more...] about Weekly Update – February 23rd, 2024

Hey everyone, I hope you had a great week, here's a quick recap of last week's plan. Equities are down as of this morning, but I wouldn't be surprised if Friday closed with a positive week. As of Friday morning, the S&P 500 is down -0.2%, and the Nasdaq 100 -0.7%. Notice how equities are still trading in the same channel I wrote about weeks ago. We saw negative … [Read more...] about Weekly Update – February 16th, 2024

I hope you had a great week, here's a quick recap of last week's plan: The S&P 500 had another positive week, advancing +1.3%, and the Nasdaq 100 +1.8%. With that being said, breadth (lower blue line) is still not keeping up with the number of stocks advancing. This gets more pronounced once you drill in the specific indexes. Notice how despite the S&P 500 and … [Read more...] about Weekly Update – February 9th, 2024

Hey everyone, I hope you had a great week, here's a quick recap of last week's plan: The S&P 500 had another positive week, advancing +1.4%, and the Nasdaq 100 +1.3%. However, the number of stocks advancing (blue line) fell behind the S&P 500 again. I have been writing about this dynamic the past several weeks, as a healthy bull market needs broad … [Read more...] about Weekly Update – February 2nd, 2024