Recap
✅ I have been sharing with readers for awhile now that the Fed Rate cuts is not as important. I stayed bullish re: CPI red day while FinTwit to Media goes doom and gloom. At the current rates, the economy is growing while inflation is slowly coming down—the Fed not cutting doesn’t matter. When the economy during 2023-2024 is creating more jobs than during 2011-2019 when rates were lower just tells you why the Fed rate cuts don’t matter. It is ok to keep rates at this level.
The only thing we should be concerned about is if the Fed flips hawkish and telegraphs rate hikes.
Below was my forecast from this past Wed close to market open when it was a sea of red:
So what happened since the CPI red day? Dip got bought for many names and then we saw some new highs…🤔
✅ Want to know what else happened? IWM 200 was defended—a key level I identified in the flows.
And where did IWM bounce at twice? Right at that 200 level 👇
✅ And don’t forget my forecast from April 7.
Amazon made new ATHs, Marriott made new ATHs, Google made new ATHs
What are these new ATHs telling you?
New 52-Week Highs vs New 52-Week Lows
NYSE New 52-Week Highs: 47 vs New 52-Week Lows: 28
Nasdaq New 52-Week Highs: 68 vs New 52-Week Lows: 145
McClellan Oscillator: shorter red bars
New Highs - New Lows bounce across the board
*This my personal blog and is not investment advice—I am not a financial advisor but a random person on the internet who does not have a license in finance or securities. This is my personal Substack which consists of opinions and/or general information. I may or may not have positions in any of the stocks mentioned. Don’t listen to anyone online without evaluating and understanding the risks involved and understand that you are responsible for making your own investment decisions.
Today
Do you think the market had any intention of paying these out if the majority of the market leaned bearish?
How many times do I have to repeat myself? Do not underestimate Golden Path
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