Trend bullish – Expect rally up to SPX 4325 before possible minor stallout; Pullbacks should be buyable when they occur for additional strength in June. A continued broadening out in US Stock indices is occurring, with Mid-caps now joining Small-caps in exceeding key resistance. Thus, the former “Large-cap only” rally is now giving way to both small and mid-cap strength, …
Divergences May Persist
June 5, 2023 in Wall Street WhispersThe S&P 500 continues its ongoing rally and is approaching 4300, which is its highest level since 8/17/22. The bulls off of the October low have clearly had the better of the bears. Admittedly, I have been in this latter group having an unfavorable view of the overall equity market. Despite this ongoing strength in the cap-weighted index, several key …
Equal-weighted SPX breakout looks bullish for broader market recovery
in Technical StrategyTrend bullish- Expecting that SPX-4325 might prove temporary stopping point only and pullbacks should be buyable for rally into late June A few important technical developments occurred over the past week that are worth mentioning: First, SPX got back over the 4200 level and proved to be a more broad-based rally, as breadth indicators strengthened. Second, Equal-weighted S&P 500 broke …
Debt Ceiling story and what’s next
in US PolicyOn Saturday President Biden signed the legislation that was negotiated between the President and Speaker McCarthy. The debt/budget deal was passed in time to avoid the crisis of a US Government default which Secretary Yellen said would occur on June 5. The politics of getting the bipartisan bill passed showed how Washington can work as the legislation passed both Chambers …
Market breadth expanding as 8 of 11 sectors >20dma (vs 2 last month). 4 reasons “fresh capital” should invest in Industrials. 17 stock ideas.
in FLASH, Macro StrategyNEW: Section (above) added identifying Key Recommendations and Super Grannies We publish on a 3-day a week schedule: – Sun eve / Mon am– SKIP MON– Tue eve / Wed am– SKIP WED – Thu eve / Fri am ________________________________________________ Today’s note will include a short video update. Please click below to view: As we move into the second week …
Stocks Continue Climb Above 4,200
June 2, 2023 in Weekend Alpha“Software is eating the world, but AI is going to eat software.” ~ Nvidia CEO Jensen Huang, 2017 Good evening: At the start of the year, pundits and experts were skeptical when our own Tom Lee predicted the S&P 500 would break 4,200 before revisiting the all-time high by year-end. Yet stocks, powered by technology, have risen thus far in …
INTRADAY ALERT: May jobs show soft earnings growth = soft landing = Fed pause = good. We expect broadening of rally on “soft landing” thesis
in FLASH, Macro StrategyNEW: Section (above) added identifying Key Recommendations and Super Grannies Please click below to view today’s video update: Equity markets managed to break to 2023 closing and intraday highs today, taking YTD gains to 11.6% (+2.5% for the month) and now within striking distance of S&P 500 4,300. STRATEGY: Expect broadening of rally given “soft landing” strengthening The key takeaway …
Average Deal Size Continues to Exceed Q1 Levels
June 2, 2023 in Crypto Funding FridayCrypto funding maintained last week’s levels, rising slightly to $179 million from $171 million. The general trend of Infrastructure and Seed deals being the most common continued. Additionally, Infrastructure deals made up 76% of the total fundraising amount. Interestingly, this was the second week in a row for CeFi and Mining not tallying any deals, as both categories have lost …
The Escalating Battle for Liquidity
June 2, 2023 in Crypto WeeklyPMIs Show Slowing Economic Growth There was a significant amount of economic data released this week, with particular attention given to the PMI data, which is considered a reliable indicator of economic activity. In May, the manufacturing sector in the US experienced its seventh consecutive month of contraction, as indicated by the Manufacturing ISM Report. The Manufacturing PMI for May …
Congress Acts on Debt Ceiling
June 2, 2023 in US PolicyLate Thursday night the Senate followed the bipartisan lead of the House and passed the debt and budget deal that had been negotiated by President Biden and Speaker McCarthy. On Wednesday the House passed the bill on a vote of 314 to 117 and the Senate then acted on a vote of 63 to 36. The average observer might ask: …
