Here’s a video discussing what I see as the current state of things.
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Here’s a video discussing what I see as the current state of things.
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I LOVE. You for ALL Yu do for us( and so many, other people, every day,
Love,
from earthquake/precarious Okinawa.
Your friends.
Yumiko and mark.
PS – I ALWAYS await Your pre-market comments, upgrades/downgrades, t undersand, wha to expact.
Your friend,
mark
When new highs expand it is participation in the equities market.
But due to Fed bucks or animal spirits?
The jobs report at the end of the week shows strength, but the number of participants was adjusted down by the BEA and BLS. Unemployment fell but questionably. The NFIB was up a little, but on fewer hours worked and less weekly wages.
My point is not technical as Jason does so well, but fundamental: where are final demand and corporste earnings headed, the E in P/E?? I am skeptical that consumer PCE is able to rise when weekly wages are fixed or declining. That means, to me, that when June comes and the FED pump stops, we coast a ways, then we become unstable and its risk off, sell the speculative. I am long RSP, Energy, and VNR, plus I have a call spead in place, but maybe 1366 or 1400 is some kind of a top. I get paid to worry.
Jason:
Thanks for the update!
Chris
It is what it is ….. After QE 2…interesting
The S+P 500 at 1343 seems to be strong resistance thus far. How does that enter into your observations? If we break through, what’s the next stop and if not, where’s support?
1400 is legit target…the index won’t necessarily go straight there, but it’s a definite possibility.
Downside support? Well how far the index falls will tell us how strong it is. A normal pullback is acceptable. A bigger than normal pullback would hint the market isn’t as strong as it currently appears to be.