finally a pullback day though today feels like a little bit of an overreaction maybe. everyone and their uncles are pointing to CPI as today's catalyst, but let's be honest here this market has been well past overdue for some kind of a dip. we'll see if there's any continuation of this down move in the days/weeks to come, that actually started yesterday afternoon. yesterday's earlier move higher did feel slightly blowoff toppy. nothing moves in straight lines forever. even a 5-8% pullback here does not kill this market. would pre doggone healthy to see it. those small caps really took it the hardest today. -4% is kinda noteworthy
I think this is the pullback. : The stock market rally will broaden. Subramanian says this will likely come in "June or earlier."
Higgins also has a 2024 year-end price target of 5,500, representing a potential upside of 10% from today's levels and the most bullish forecast on Wall Street.
S&P tops 5000! A 15 month price cycle pullback more? https://s.yimg.com/ny/api/res/1.2/f..._markets_842/243d4ea16122dd667e1d1fa069a7d818
haven't done market profile in a minute. well that's largely because i haven't really been engaged in the markets much for a while if i'm being honest lol. i used to follow the shadowtraders a long time back. i'd be curious to hear if someone knows, if monday's RTH (regular trading hours) high was a poor high on the profile for the /ES futures? could be wrong here, but it didn't seem like there was meaningful excess on the top there amirite? also, the nasdaq COMP failure to actually take out previous ATHs was kinda noteworthy as well, which if a significant market top is to be put in, you'd kinda like to see all of the majors printing the new high before a meaningful correction ensues. as others have said, yesterday just felt like a massive overreaction. and the cpi print was just the excuse to pullback a little after the nonstop run higher over the past few weeks. i think markets still ripe for a nice 5-8% dippage which wouldn't upset the applecart by too much.
Yep I don't know what would be the possible trigger for us to pullback 5 to 8%, maybe NVDA earnings They probably will beat and raise but they could disappoint with guidance if it is not a big raise
Last year Germany's stock market was pushing to new ATH as it entered a recession. Now Japan's stock market has hit a 34-year high as their economy has been slowing down and beginning a recession.
White House's Brainard says US won't follow Japan, UK into recession | Reuters The UK is also in a recession now, can the US really achieve a soft landing? Hope we can but a big slowdown could be coming if rates stay higher for longer.
LOL I am now up over 77%, too bad I just bought a small position for fun since I viewed it as a pretty risky play
Yeah SMCI has been a rocket ship, it was +250% in 1.5 months to start this year. Trend is your friend until the end.
SMCI finally crashing Still up around 40% but I might be taking profit next week if it doesn't regain strength soon
Got in ANF at $72.70 but I never thought I could be up over 66% in such a short period of time Is it becoming a cool brand again lol
ADBE Stock Falls As OpenAI Invades Its Turf | Investor's Business Daily (investors.com) ADBE falling today on the news, it is a tech stock that I trade with pretty often but I am glad that I have no position before today
GOOGL Stock: AI Human Imagery Mishaps Generate Angst For Google | Investor's Business Daily (investors.com) GOOGL falling today, seems like they always have one of those AI misstep headlines once in awhile
