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I hope you had a great week, here's a quick recap of last week's plan: Equities rallied after a low CPI number, as the S&P 500 (+1.6%) and Nasdaq 100 (+3.5%) both gapped up on Wednesday. Unfortunately, I'm seeing more concerns once you look under the hood. This week's FOMC and last Friday's unemployment numbers make me even more concerned. Making me bearish over the … [Read more...] about Weekly Update – June 14th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities had a fairly strong week, as the S&P 500 (+1.3%) and Nasdaq 100 (+2.5%) both advanced. I say "fairly strong" because the Dow is still not keeping up, finishing the week +0.3%. The disconnect is especially pronounced when you compare the New York Stock Exchange (blue) to the S&P 500 … [Read more...] about Weekly Update – June 7th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities fell hard after an abysmal Chicago PMI on Friday, but heavy buying kept the Nasdaq from breaking below the May 17th follow-through day. With that being said, the indexes still closed the week negative, the S&P 500 (-0.53%) and Nasdaq 100 (-1.4%). I cautioned last week that the Dow … [Read more...] about Weekly Update – May 31st, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities fell hard after a strong jobs and PMI report, but Nvidia's earnings report helped both the S&P 500 (+0.03%) and Nasdaq (+1.4%) close positive. The Dow Jones Industrial Average, which does not have Nvidia, experienced a different week, down -2.3%. The question is whether or not the … [Read more...] about Weekly Update – May 24th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities had a good week, rallying after CPI met estimates. The S&P 500 closed +1.5%, and the Nasdaq 100 +2.1%. The Nasdaq logged a follow-through day after Wednesday's CPI data. Follow-through days near all-time highs should be viewed with more skepticism. Ideally, we would like heavy buying … [Read more...] about Weekly Update – May 17th, 2024