Some investors view Japan with its continued ultra-loose monetary conditions as a possible opportunity in 2024, it looks weak to me. Japan is finally generating some inflation and GDP growth, it appears that the Japanese economy was finally getting back on track. We will see.
This market is like the first Rocky movie – it won’t stay down. But it won’t be the "champion" until it CLOSES above 4,600 in the S&P 500. And I believe that has to happen in the next few days or at least by next week. More on this "resistance discussion" in the DEC CB3LIVE!
The strong comeback in equities has been supported by favorable news in all the right spots - inflation, interest rates, earnings - and a lot of stocks are near their highs. The S&P 500, for example, is just within 5% away from it's all time-high reached in Jan 2022. Progress!
NOV finished as the best-performing month of the year so far for the S&P 500 and was the best since JUL 2022. Friday’s additional gains across the board suggest that investors are very bullish and anticipate a December rally. Will the rally fade?
The Black Friday through Cyber Monday shopping season for 2023 wrapped up last week, and it looks like the U.S consumer has -- once again -- triumphed. Black Friday sales were up about 7.5% over last year, while sales for the entire Thanksgiving weekend were up about 7.7%. WOW!
That summer correction, which had the bears salivating over maybe being right, turned out to be the second shortest correction (in length of time) since 1960 (1998 was just six days). The next shortest correction was in 2020. We have to take stops in a correction to protect!
After a monster November, history suggests meandering early in the first two weeks of December and then a surge into New Year’s. I think fireworks will happen a lot sooner. The first thing that stood out to me yesterday was the downward reversals in many Tech names weakening...
Inflation was last below the Fed’s 2% target in February 2021, when one bitcoin cost close to $50,000. By the time inflation peaked in June last year the price had collapsed to $20,000, the opposite of what it should have done. Bitcoin and others still have a LOT to prove ...
Tuesday was another session that may have seemed ho-hum performance, but it was like tectonic plates rubbing beneath the surface of a fault line. This is the prelude to a big move. Consumer Discretionary (XLY) led the way - Americans keep spending. I'm watching this like a hawk.