Could you also look at UNG and WEAT?

Sure. I’ll post an update on the PM’s & miners today in video or static charts.

Unfortunately I can empathize with you

Divergent highs aren’t stopping the Mag 7 or the semis.
Next stop for Nvidia is 600 on the way to 1000.
That’ll only be a 100% gain compared to Nvidia’s run up last year.
I was shorting the semis. I finally threw in the towel.
Maybe that’s a contrarian time to start shorting them.
The market went down today and I lost money shorting. My life story.

AMD had a nice little divergent high on the daily. glad I didn’t buy puts and get my face ripped off.

Certainly a net tailwind for the inflation/higher interest rates camp. Most importantly, where Treasury yields go, particularly the 10 yr, will indicate whether the market is correct in pricing in aggressive rate cuts from the Fed this yr or not.

Although there are a myriad of possibilities regarding what happens to interest rates (and the market) in 2024, here are my most likely outcomes:

– Inflation starts to return, thereby handicapping the Fed in how much they can cut so the market does get the cuts that it has already price in. If so, that would be very bad for stocks IMO.

-We do get all (or nearly all) of the cuts the market has priced in but we get those due to rapid deterioration in the economy, particularly the job market, taking the soft or no-landing scenario off the table… (ie. recession fears back on the table)… bad for the stock market.

Of course, the Goldilocks scenario is possible but the way I see it, 2023 price it in 110% so best case we have a flatish year in the stock market in 2024. Upside potential seems limited IMO vs. huge downside potential if the market doesn’t get what it is expecting.

Let’s not even talk about the upcoming clown show regarding the 2 most-likely Presidential candidates & the impact on the markets as we get closer to Nov 5th

Sorry chart of Microsoft marketcap didn’t work…..try this one….

https://apis.mail.yahoo.com/ws/v3/mailboxes/@.id==VjN-nWqOFi0GhTQNE4WkbDgnHbvvwjvjG-bH9Oj6mlREWFhLoLieCXKFqlqa0Fmt9IgXGl2LEeEb8L4Fd0GBJs5fOA/messages/@.id==ALW_OcRAUApOZabBvAs-6HCNtnY/content/parts/@.id==2/thumbnail?appid=YMailNorrin&downloadWhenThumbnailFails=true&pid=2