the anticipated pullback will have to wait
| | | | | | | | | GUY COHEN’S TRADE RADAR
The Pullback Will Have To Wait…
Last week I said the three big indices continue to enjoy being overbought while the IWM has pulled back to its 50-dma and is holding firm.
That was spot on as bullish continued and the IWM bounced off its 50-dma.
As mentioned many times over the past few weeks, the anticipated pullback will have to wait until sometime after earnings.
As always, let the setups form, and protect your existing profits and any new profits early.
Keep sticking with our game plan of AAA setups near Key Levels.
Don’t get distracted by missed opportunities.
Follow the money,
— Guy Cohen | | | | |
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| Unleash the Power of Uranium in 2024!
As clean energy fumbles, an unsung hero of the energy crisis emerges: Uranium.
Discover how this 'dirty' word in energy is setting up for explosive gains! Don't miss out on the uranium boom that's outshining gold, the Nasdaq, and even Bitcoin!
Ride the Uranium wave before it’s too late! | | | | |
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| PROSPERITY PUB MARKET TALK
The Price Hike Hoedown: Inflation Dances Past Forecasts
Well, well, well, if it isn't our old friend Inflation, showing up uninvited to the party once again. Just when you thought your wallet could take a breather, January's Consumer Price Index (CPI) decided to spike like your blood pressure after reading the report: up 3.1% year over year, beating the more muted forecast of 2.9.
So much for a slow dance with inflation; this is more like a surprise tango that no one signed up for.
It’s like a party guest that won’t leave. And now it could soon force the Fed to raise rates. Quite the opposite of market’s expectation that they would soon be lowering rates.
Suddenly, J. Powell is forced to reconsider… Instead of slowing down, he may have to pump up the rates. Or at least keep them right where the are — for longer than markets would like.
This leaves investors in a conundrum. Especially when you peek at the S&P 500, partying at all-time highs, supported by just a few stocks doing the heavy lifting.
It's like having a party where only a few guests are dancing — not exactly the picture of health.
But don't just take our word for it. The big brains crunching numbers and brewing forecasts are already stirring the economic cauldron, predicting a mixed bag of data before the Fed's next big decision.
So, grab your party hat (or helmet, depending on your outlook), and let's see how this soiree unfolds.
Just remember, when it comes to the economy, always expect the unexpected.
And maybe keep an eye on the exit, just in case Inflation decides to crank up the heat even more.
— The Prosperity Pub Team
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GUY COHEN’S TRADE RADAR
The Pullback Will Have To Wait…
Last week I said the three big indices continue to enjoy being overbought while the IWM has pulled back to its 50-dma and is holding firm.
That was spot on as bullish continued and the IWM bounced off its 50-dma.
As mentioned many times over the past few weeks, the anticipated pullback will have to wait until sometime after earnings.
As always, let the setups form, and protect your existing profits and any new profits early.
Keep sticking with our game plan of AAA setups near Key Levels.
Don’t get distracted by missed opportunities. Follow the money,
— Guy Cohen Unleash the Power of Uranium in 2024!
As clean energy fumbles, an unsung hero of the energy crisis emerges: Uranium.
Discover how this 'dirty' word in energy is setting up for explosive gains! Don't miss out on the uranium boom that's outshining gold, the Nasdaq, and even Bitcoin!
Ride the Uranium wave before it’s too late! PROSPERITY PUB MARKET TALK
The Price Hike Hoedown: Inflation Dances Past Forecasts
Well, well, well, if it isn't our old friend Inflation, showing up uninvited to the party once again. Just when you thought your wallet could take a breather, January's Consumer Price Index (CPI) decided to spike like your blood pressure after reading the report: up 3.1% year over year, beating the more muted forecast of 2.9.
So much for a slow dance with inflation; this is more like a surprise tango that no one signed up for.
It’s like a party guest that won’t leave. And now it could soon force the Fed to raise rates. Quite the opposite of market’s expectation that they would soon be lowering rates.
Suddenly, J. Powell is forced to reconsider… Instead of slowing down, he may have to pump up the rates. Or at least keep them right where the are — for longer than markets would like.
This leaves investors in a conundrum. Especially when you peek at the S&P 500, partying at all-time highs, supported by just a few stocks doing the heavy lifting.
It's like having a party where only a few guests are dancing — not exactly the picture of health.
But don't just take our word for it. The big brains crunching numbers and brewing forecasts are already stirring the economic cauldron, predicting a mixed bag of data before the Fed's next big decision.
So, grab your party hat (or helmet, depending on your outlook), and let's see how this soiree unfolds.
Just remember, when it comes to the economy, always expect the unexpected.
And maybe keep an eye on the exit, just in case Inflation decides to crank up the heat even more.
— The Prosperity Pub Team
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