I suspect absent your garden variety black swan, markets will go into a bit of a lull period during the summer doldrums, until election season begins. There’s really not a whole ton going on right now to sway things convincingly in one direction or another. And not to harp on this an umpteenth amount of times here, but this year has definitely seen some one of the most uninspiring market action I personally have witnessed in many years (hence the unprecedentedly low participation in the markets across many stock chat communities I’m on). Hopefully a nice disorderly market meltdown is in the offing at some point. For one, I’m missing Frankenstein’s presence here bigly. Market corrections make for great trading opps and discussions. Things are just so stale and uninteresting right now at these nosebleed levels. Wake me when things finally decide to crash. I miss the circuit breakers
Dell, Nvidia and SMC collaborate to power Musk's Grok AI factory By Investing.com Let's see if this news will bring the AI stocks further higher tomorrow
Not sure if it was a blowoff top but it was an interesting intraday reversal for NVDA and AI stocks today
No idea if this AI rally is close to being done yet but we could be seeing a blowoff top for AI names with NVDA overtook MSFT as the most valuable company in the world. We could also see money moving into AI names and NVDA once Q3 starts but we will see, I am a little more cautious now and would rather buy healthcare, utilities, staples and energy, etc. just in case if this tech rally is running out of steam, I have enough tech exposure already
NVDA rolling over Not too concerned yet and I am not calling NVDA has topped out but if it doesn't rebound when Q3 starts then it could begin to get a little concerning.
i know i've been bitching about "boring" markets this year, but i think theses 2 chart really illustrate the mundane nature of the markets as a whole for the year thus far. there's no denying that market volatility has been quite low for a long time now. in fact, this year's maximum pullback from peak to trough has only been about -5% on the cash spx. it's worth noting that on average we usually see around a -10% drawdown in a given year. additionally, election years on average has been around -13%. needless to say, the markets have been really uninspiring to say the least this year (for me at least, to each their own). lastly, today marked the 337th consecutive trading day where the cash spx hasn't seen a -2% dip. this is one of the longest stretches we have seen on record. we're fast approaching 2017's streak at 351 days. after that you'd have to go back to 2006 which saw a pretty crazy stretch of non -2% market days. this isn't to say that this streak can't keep going, but it does show just how stale and mundane things have gotten in the market this year. i suspect for most investors this is good to see. but, traders like myself love some volatility. there's been hardly any of that for a long time now. case in point, we are kinda overdue for a nasty little pullback or correction at some point. @StockJock-e asked me the other day what my best guess would be for a black swan. i really don't know anymore tbh. i've all but run out of guesses at this point. but, the markets are getting a bit stretched out at these nosebleed levels. nothing moves in straight lines forever. this has been a pretty stretched out run higher without any meaningful dips for a long time now. it will be a glorious sight to see once these markets are ready to pullback hard. i say bring it on. until then, i'm pretty much in hibernation mode. not my cup of tea of a market for me personally. again to each their own.
