Work has been crazy busy recently due to some big announcements and future product launches—expect at least a weekend post. Things should start to slow down here and I’ll be able to post 2-3x/week.
Recap
✅ Forecast from Feb 25th weekend post—generally my weekend forecast posts are directionally correct, we’re on our way towards SPX 5400 next few months.
✅ Again, don’t underestimate how bullish Golden Path is going to be (see update on GEX flows below)
New 52-Week Highs vs New 52-Week Lows
NYSE New 52-Week Highs: 271 vs New 52-Week Lows: 25
Nasdaq New 52-Week Highs: 403 vs New 52-Week Lows: 86
McClellan Oscillator continues bullish and we could see more bullish reading we saw back in Nov-Dec 2023.
McClellan Summation Index looks good (for a long-term signal)
Advance/Decline Volume Line looks like it’s going to break out across indices (already done so on SPY)
New Highs - New Lows
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Past Week
As expected, this is really why the stock market is rising higher.
Very positive news—inflation has been over for awhile now.
I repeat, Golden Path (above trend growth + inflation falling) along with the Age of AI is going to be more bullish than anyone realizes.
Nvidia NVDA 0.00%↑ is not in quite in a crazy bubble yet
Amazing beat, I am a customer of Duolingo DUOL 0.00%↑ and investor.
The Cautious Perspective
GDP “nowcast” is trending lower and for the first time in awhile <1.0% down to 0.9%
Interesting signal since last time Jeff Bezos sold billions was before the bear market of 2022.
Amazon AMZN 0.00%↑ is coming up to a retest of ATHs
We’ll need to see if GDP growth goes below-trend towards 0%
Forecast
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