US stock market is ready to move beyond minor issues like fed hikes, war in Ukraine
Why minor ..... they all were huge to begin with
BUT with 1 Fed hike in the bag and 50 basis next, market knows the picture and it is the right move.
War is in the 5th week and is stuck in the mud with huge internal consequences
War is in rear view mirror of Wall street....
Production worldwide is back on track..
Ports are busy and doing huge volume in moving goods.
Supply chain not only has improved but major initiatives are being planned for USA and everywhere.
China has played a neutral role and is benefitting from cheap Oil from Russia
That is most of the reason why Stock market worldwide is getting close to old uptrend
YES ..we can all look in rearview and hash all the old issues and be afraid.....
BUT it is costing money to those whose calculators do not add up to 6 months ahead.....
SO follow the TAPE...It Is northbound...
Nobody is smarter than market, a lesson learned the hard way by me and most others....
Every good stock is working in all sectors....
Extremely broad based market momentum which IS building UP.
Technology and other emerging sectors are all in vogue..
Last but not the least S&P 500 RSI @ 60.54 does NOT happen by accident
Lowest RSI in my universe is in JETS which is also very respectable 54.04....sign of a very strong emerging bull market....
Good luck with your own analysis & comfort level.
BLOG does NOT give buy or sell.
Saleem
2 comments:
Hi Saleem,
Last week: +1.43% (YTD: -9.03%)
Notable Leaders: ZENV DE ENPH LITE
Notable Laggards: BMEA
It was a good week for the portfolio and large cap stocks overall despite the massive rise in treasury yields reminiscent of times decades ago. The rush to deploy sideline capital caught many off guard, but is common when sentiment gets so one-sided. I am skeptical of further rise beyond this capital rush as small cap stocks dropped still (poor underpinnings) and earnings estimates likely need to fall as input costs for companies and consumers jumped significantly in the past month. That said, I am a long investor at heart, and will be looking for opportunities to shave off the huge TZA hedge and invest for the future.
Holdings: TZA(41%) DE SNAP ENPH PLAY LITE VERI ZENV BMEA, cash 0%
Stocktrader
Hi Stocktrader,
Last week UP .96%
YTD UP 10.67%
Saleem
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