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I hope you had a great week, here's a quick recap of last week's plan: Equities finished the week down. The S&P 500 closed -1.0%, and the Nasdaq 100 -0.8%. This is the Nasdaq 100's second negative week in a row. Perhaps more importantly, equities closed the week below this channel we have been tracking all year. As for why equities keeled over on Thursday, my … [Read more...] about Weekly Update – April 5th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities finished the week mixed. The S&P 500 closed on Thursday +0.4%, and the Nasdaq 100 -0.5%. As you can, though, they are still respecting the levels in this channel. Markets were closed for Good Friday, including futures, which is when PCE data came out. February's PCE was in line at … [Read more...] about Weekly Update – March 29th, 2024

I hope you had a great week, here's a quick recap of last week's plan: Equities exploded after a dovish FOMC and even more dovish Powell press conference. The S&P 500 closed on Thursday +2.4%, and the Nasdaq 100 +2.9% (I'm traveling Friday). As you can see, equities reclaimed the channel I called out last week. I wrote that "A close back in the channel could cause … [Read more...] about Weekly Update – March 22nd, 2024

Hey everyone, I hope you had a great week, here's a quick recap of last week's plan. Equities fell for the second week in a row, and tech was once again hit harder. The S&P 500 finished -0.1%, and the Nasdaq 100 -1.1%. We can thank PPI for this drop, which came in very hot on Thursday (+0.6% MoM vs .03% Estimated). PPI reversed all of the week's gains over … [Read more...] about Weekly Update – March 15th, 2024

Hey everyone, I hope you had a great week, here's a quick recap of last week's plan. Equities dipped this week, and tech was hit harder. The S&P 500 finished -0.3%, and the Nasdaq 100 -1.6%. Tesla (-13.5%) helped pull the Nasdaq 100 down. With that being said, equities are still trading in the same channel we have been tracking all year. Friday's fall was … [Read more...] about Weekly Update – March 8th, 2024