After the first hour of trading we were mostly flat.
The Fed did what it had to do, and now we’ll watch the markets.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
After the first hour of trading we were mostly flat.
The Fed did what it had to do, and now we’ll watch the markets.
by David
This is the video recording of the June 14, 2023, Hot Corner Insider Weekly Strategy Session.
by David
The most significant transaction on today’s list comes in a Form 4 filing by Ryan Cohen, executive chairman of GameStop $GME.
Cohen revealed a purchase of 443,842 GME shares, equivalent to roughly $10 million.
by David
From the Desk of Kimmy Sokoloff
We’ve got the Fed today, and let’s say we sell off.
Even so, it would be a much needed consolidation.
by JC
How’s the Bull Market treating you so far?
Can you believe it’s been a year already since the new 52-week lows list peaked?
Remember, the first thing stocks need to do before they can start to go up in price, is to stop going down!
That happened 1-year ago.
Since then Technology, Communications, Consumer Discretionary and Industrials are all up over 20%. Tech is up almost 40%.
Meanwhile, Healthcare and Financials are each up 10% during this period.
And then some of the more defensive sectors, like Staples and Utilities, are up, but very much underperforming the more offensive sectors.
This is all perfectly normal behavior in bull markets, so we’re not surprised at all. No one should be.
Here’s a chart of each sector’s performance since the start of this bull market – exactly one year ago! [Read more…]
by JC
They’ve been telling me for almost a year that this is just a bear market rally.
If you’re one of those people, I would ask your therapist about it.
The New Lows list peaked last June.
It’s been steady improvement and sector rotation ever since.
This month is just the latest example. We now started to get rotation into Small-caps.
See: Bullish Risk Reversal In Small-caps (May 2023)
I’m convinced the world needs more bubble charts. There just aren’t enough.
So here at Allstarcharts we’re just doing our part. [Read more…]
by David
From the Desk of Kimmy Sokoloff
The market was happy with the CPI numbers.
No rest for the weary…
by David
The most significant transaction on today’s list comes in a Form 4 filing by Len Blavatnik.
Blavatnik reported a purchase of $10 million in Day One Biopharmaceuticals $DAWN.