May the 4th be with you!
Premium Episode 40min
Free Preview 22min
A ton of wisdom in this scene
Winning is a decision and state of mind
There are forces of nature beyond our human senses
You must unlearn what you know to often times move forward
Whether you believe you can or cannot, you will be right
#starwars #maythefourth #maythe4thbewithyou
Rips were being distributed into. Many are saying the selling is over. Maybe so. Some decent v bottoms but not many good healthy patterns.
Free members will get a list of stocks that have broken down, which are much easier to find than long setups in the current market which is cautionary.
I will also share 25+ potential longs with paid members in case we are truly putting in a bottom.
All this effort to claw back to the 50 day or gap fills on indices
GOOGL dividends
MSFT earnings
TSLA China news
FOMC
AAPL Buyback news
Bad jobs data boost hopes for a rate cut thus fueling Friday
Look at all the innovation at Apple!
Yields lifted at the open pressuring the gap up. So what does the home team do? Sell the crap out of the Dollar.
Then rates fell all day.
But look at that Friday candle. It got to the ma and bounced hard!
Look at the long term correlation of interest rates and SPY
3 Year
Coming out of Covid lockdowns has been the only periods where they went up together
Since 1993
Look at the defensive sectors of the stock market now, like utilities and consumer staples (BOTH ABOVE 50 DMA), their outperformance is a sore thumb. Reddit Yolo traders are not buying Utilities.
Sectors
7 out of 11 are below 50 day ma.
IYZ Telecom
VNQ Real Estate
XLB Materials
XLE Energy (Over 50 day)
XLF Financials
XLI Industrials (Over 50 day)
XLK Technology
XLP Consumer Staples (Over 50 day)
XLU Utilities (Over 50 day)
XLV Healthcare
XLY Consumer Discretionary
Sampling of 18 popular stocks still broken and under 50 day
And some Friday horror/humor…
HT to
Jared Bernstein is the Chair of the Council of Economic Advisers, who drives Biden’s economic policy.
Clip is from the documentary “Finding the Money” by Stephanie Kelton
You decide. Do we have the right leaders? Do you even care or too busy just paying bills? And I am not picking on Biden. Everyone in DC have been seduced by the dark side.
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