Happy New Year!.....One of our themes took a bit longer to describe than usual this week.  Therefore, we have combined it into two bullet points (points 2&3).  Although the comment is long, we hope you’ll check it out…because we believe it is quite important when thinking about the markets in 2024…….We’d also note that we have a guest writer this week who will talk about the political landscape in point #9.  He will be writing comments for us on a semi-regular basis during this election year!……Thank you very much.


Table of Contents:

1)  The odds that volatility will be much greater this year are very high.

2&3)  Huge/new innovations do NOT mean a bigger bubble is inevitable…unless liquidity is excessive.

4)  Updating the charts on the major indices…some technical damage was definitely inflicted last week.

5)  If the bond market continues on last week’s path, it’s going to catch a lot of investors offsides.

6)  The high yield market (which is a good leading indicator for stocks) is seeing some cracks.

7)  Looking at the tech stocks…and the impact that leverage frequently has on them (in both directions).

8)  Apple’s stock (AAPL) is testing an extremely important support level.

9)  An insider’s look at the political landscape as we move into 2024.

10)  Summary of our current stance…….”Don’t fight the Fed” is not a mirror image issue.


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