Podcast EP 123 Stay Focused Daniel-San (Jan 22)

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Show Notes

Summary of the day

When you see everyone drunk on euphoria and comingling on one side of the boat including the crew, you must stay focused on the threat of icebergs.

These ratio charts compare SMH to Nasdaq 100 and the SPY. As you can see we are challenging the yr 2000. And it took a mountain of debt to get there.

Look at the cost to get to these nosebleed levels:

Regarding Jobs:

The last time we had 12 consecutive months of negative revisions to jobs reports was 2008. Back then it was -65k on avg negative revision.

In 2023 we hit negative 43k on avg per month of negative revisions.

(Source

Danielle DiMartino Booth

) The Bureau of Labor Statistics.

81% of job growth was govt jobs for 12 months through December 2023.

https://www.youtube.com/live/ZWgH-H8-fjo

I realize this has nothing to do with todays price action. But it is important to never lose sight of the Forest.

Breadth

• 1051 new highs

• 292 new lows

• 70% advancing 25% declining

• 31% below 50 day ma

• 36% below the 200 day ma

Stuck out

Bulls win again

Strong

Weak

What to watch

Jan 31 FOMC

Watch mag 7

Watch yields

Economic data

https://www.marketwatch.com/economy-politics/calendar 

Earnings