Between now and next Wednesday, we’re going to get a key inflation report and the Fed meeting. Therefore, we should get some sort of resolution to the divergence that has developed between the bond and stock market very soon.
The chip stocks are getting very overbought. Thus, last night’s disappointing earnings from Intel could be a catalyst for a pullback. Therefore, investors should be careful about chasing the group up at these levels.
Telsa’s 30% drop in less than one month has taken it to the kind of oversold level that has only been exceeded ONCE since it went public. So, it should be getting ripe for at least some sort of short-term bounce very soon.
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