Lower Inflation Does Not = the Return of "Free Money"
With the Thanksgiving holiday this coming week, the second half of the trading week should be quite uneventful. With this in mind, we will not be sending out a weekend piece next weekend. However, if we get some sort of surprising development(s) in the coming days, we WILL publish an abbreviated piece next Saturday. That said, it is more likely that we will not be sending anything out next weekend. In other words, next week, we’ll keep the comments to our “Morning Comment” from Monday-Wednesday. Thank you…and have a great holiday week!
Table of Contents:
1) Is the stock market misinterpreting the decline in inflation?
2) Bonds breaking key technical levels. It’s not very far from another one.
3) The action in the high yield market is very encouraging for the bulls.
4) The tech sector is getting quite overbought on a near-term basis.
5) Nvidia stands at a crucial technical juncture…with earnings coming out on Tuesday.
6) Update on the charts of the major averages. (SPX & NDX are getting overbought.)
7) Crude oil & energy stocks might see one more dip, but they look enticing.
8) Banks: This is not like the rebound we saw in the early/mid 1990s.
9) The leadership in Israel sure seems to be quite adamant.
9a) Finally, a change in the rhetoric on an important issue.
10) Summary of our current stance.