Recap
✅ Notice SPY did bounce close to 515 however QQQ did not bounce at 444 as we saw a little more aggressive market rotation
✅ Don’t underestimate Golden Path
✅ Bullish market rotation (notice selling winners like tech and rotating to energy, etc.)
New 52-Week Highs vs New 52-Week Lows
NYSE New 52-Week Highs: 170 vs New 52-Week Lows: 36
Nasdaq New 52-Week Highs: 120 vs New 52-Week Lows: 127
McClellan Oscillator improves vs 2 days ago
New Highs - New Lows seems to have bottomed out here
We fall back down to Greed and likely will go back to Extreme Greed (if the jobs report cooperates)
*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.
Past Week—Just More Golden Path
Golden Path
Powell’s Speech
Economic Performance and Policy Goals
Fed Chair Powell has guided the FED through supply disruptions, fiscal expansion, and inflation, emerging with a strong US economy. Economic growth and employment were strong in 2023, with real GDP expanding by more than 3% and 3 million jobs created, despite substantial inflation
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