The Current Advance In the Stock Market Is A Sucker's Rally
Investors are finally starting to realize that we're not going back to the free-money days of yore. It won't be too long before they also realize stocks cannot stay overvalued without that free money/liquidity.
Table of Contents:
1) Of course the Fed has raised rates in an unprecedented manner!
2) Despite what many pundits think, it’ not the Fed’s job to prevent recessions and bear markets.
3) Update on the S&P 500 & NDX 100 charts…..Strong bounce off their KEY support levels.
3a) The XLK tech ETF saw a “golden cross” last week. Will that signal a breakout?
4) Correct…we are not going back to the pre-2022 days…..duh.
5) Some very encouraging signs from the charts of the healthcare and biotech ETFs.
6) We’re surprised by the complacency surrounding the developments out of Credit Suisse, Blackstone & Silvergate.
7) With the risk-free rates so high this tax season, will it cause investors to shift money out of stocks?
8) The charts on gold are pointing to another leg higher soon.
9) The battle lines for bitcoin are well drawn.
10) Summary of our current stance.