Comments on: Weekly Stock Market Wrap 9-13-24

By: rsotc

rsotc — Mon, 16 Sep 2024 14:55:01 +0000

In reply to Gino. Yes (to a possible 50bp cut) and also I have to assume that at least someone at the Fed is monitoring the recent trends in consumer credit delinquencies. Funny, I even had a flurry of articles from my news feeds, starting out with one from the WSJ, that all came out on Saturday (the day after I highlighted those stark recent up trends in delinquencies & charge offs by the banks).

By: @GEOTRDR

@GEOTRDR — Mon, 16 Sep 2024 14:54:27 +0000

Yep, looks like a slow grind down for a bit …..

By: KevinK

KevinK — Mon, 16 Sep 2024 04:44:02 +0000

Buy any dip….it’s been working for 2 years now.

By: rugiii

rugiii — Sun, 15 Sep 2024 19:45:00 +0000

Tracking 2 patterns-
Sept is bearish every month since 2020… if pattern repeats we should start descending from this week…
Another pattern to track is 2007 where Aug monthly was hammer just like 2024 where top came in around end of oct, coincides with election week this year…
Sept 17 2024 partial lunar eclipse possible start of big trend change coincides with fomc…

By: Gino

Gino — Sat, 14 Sep 2024 08:51:53 +0000

Hi Randy, I really appreciate this fundamental analysis, thank you.
Looking the PMI decline, don’t you think Fed would be inclined to go for a 0.5 cut. Is there any historical correlation on this ? Thank you.

By: rsotc

rsotc — Fri, 13 Sep 2024 21:57:41 +0000

In reply to @GEOTRDR. Wouldn't surprise me if it does with the hype of the impending rate cut(s) and current near-term upside momentum but all I can do is not lay bets (trades) on guesses, rather objective entries, such as the rally into the downtrend lines on the $SPX, $NDX, $RUT, XLF, SOXX, etc... today. I've long since learned trading on hunches vs. objective technical levels (pullbacks to support, rallies into or breakouts above resistance, etc..) are more misses than hits over time.

By: @GEOTRDR

@GEOTRDR — Fri, 13 Sep 2024 21:25:17 +0000

Could be a Monday am upside move imho…