US - Market Strategy 02 (Feb 22 - Dec 23)

[behappyalways]

Interesting price action on the $VIX on Friday...
https://twitter.com/GarethSoloway/statu ... 5853743111

[behappyalways]

The $SPX P/E is heavily skewed upwards by the mega-cap tech stocks.

Take them out and the market actually has a decent level, in fact below the 10-year average
https://twitter.com/AyeshaTariq/status/ ... 9931684997

[behappyalways]

The divergence between $QQQ (grey) and $TLT (red) is worth observing as these are both long duration assets and often enjoy a positive correlation during times of rising and falling liquidity.
https://twitter.com/Mayhem4Markets/stat ... 3372410079

[winston]

You Should Buy This Major Market Laggard Right Now

by Keith Kaplan

Small Caps Are Mightily Underperforming Large Caps

The next 12-months forward P/E for the S&P Small Cap 600 sits at 12.1 vs. 18.2 for the S&P 500 large-cap index.

If you’re looking to play for a bounce in small caps, consider the iShares Core S&P Small-Cap ETF (IJR). It tracks the S&P Small Cap 600 and has a tiny expense ratio of .06%.

Source: TradeSmith

https://tradesoftheday.com/2023/10/20/y ... right-now/

[behappyalways]

With the break below the trendline from October and clean rejection at the MA(20), the likelihood of price being drawn back to the point of control at about 4150 is growing.
https://twitter.com/Mayhem4Markets/stat ... 6493739371


A P/E of almost 45 for the Magnificent 7 is evidence that this year's rally has been led mostly by multiple expansion rather than actual growth
https://twitter.com/Mayhem4Markets/stat ... 8699101251

[behappyalways]

The bullish year that wasn't... Russell 3000

https://twitter.com/CarterBWorth/status ... 1266269404

[behappyalways]

The state of the stock market in five charts.
https://twitter.com/biancoresearch/stat ... 5298603362

[winston]

HIGHS AND LOWS

NEW HIGHS OF NOTE LAST WEEK

CBOE Global Markets (CBOE)... trading-exchange operator
Reinsurance Group of America (RGA)... reinsurance
Unum (UNM)... insurance
RenaissanceRe (RNR)... insurance
Fair Isaac (FICO)... credit-score data analytics
H&R Block (HRB)... tax-prep company
Remitly Global (RELY)... online money transfers
Costco Wholesale (COST)... membership-only stores
Lululemon Athletica (LULU)... yoga pants
American Eagle Outfitters (AEO)... apparel
Abercrombie & Fitch (ANF)... apparel
Construction Partners (ROAD)... roads
Murphy USA (MUSA)... gas stations
Frontline (FRO)... oil tankers
Shell (SHEL)... oil and gas
Hess (HES)... oil and gas
Enterprise Products Partners (EPD)... oil and gas
Williams (WMB)... natural gas
Range Resources (RRC)... fossil fuels

NEW LOWS OF NOTE LAST WEEK

Morgan Stanley (MS)... financial services
T. Rowe Price (TROW)... asset management
PayPal (PYPL)... mobile payments
Texas Instruments (TXN)... semiconductors
Corning (GLW)... smartphone glass
Pfizer (PFE)... pharmaceuticals
Moderna (MRNA)... pharmaceuticals
Thermo Fisher Scientific (TMO)... life sciences
Ulta Beauty (ULTA)... makeup and skin care
Hormel Foods (HRL)... food products
Southwest Airlines (LUV)... airline
United Airlines (UAL)... airline
General Motors (GM)... automaker
Crown Castle (CCI)... communications REIT
Rayonier (RYN)... timberland

Source: Daily Wealth

[winston]

'Extremely bearish' chart formation signals the top 7 Big Tech stocks including Apple, Nvidia, and Tesla face elevated risk of a selloff

by Anil Varma

An "extremely bearish" pattern has formed on the Magnificent 7 stocks' combined price chart, fueling fears of a selloff.

"For what's worth, the top 7 largest tech stocks are currently staring down from a scary double-top technical formation".

That's amplifying concerns that Wall Street's reliance on a handful of Big Tech stocks may have reached unsustainable levels.

Source: Business Insider

https://finance.yahoo.com/news/extremel ... 45514.html

[behappyalways]

$QQQ is breaking down. Not much to love about this chart as a bull. Plenty to get excited about as a bear over the intermediate term.
https://twitter.com/Mayhem4Markets/stat ... 3727938588


BIG level on the $SPY. Epic test of support here. Let's see if it triggers a bounce. Highlighted this as my TARGET in the #GamePlan this morning
https://twitter.com/GarethSoloway/statu ... 2662649955


Even after all the selling, the NASDAQ is still expensive
https://twitter.com/Mayhem4Markets/stat ... 7691891726