Newsletters, Reports, Updates, and Alerts from a Top Market Timer with 44 Years of Experience

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https://www.howestreet.com/2024/05/is-it-time-to-sell-in-may-mark-leibovit/

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DO YOU THINK ALL THE RECENT NATURAL DISASTERS ARE COINCIDENTS?  MAYBE NOT IF YOU READ THE WORK OF BILL KOENIG.

WHO IS MARK LEIBOVIT?

MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS  a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.

Mark's extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”.  He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell's MoneyTalks.

In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked  #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.

He was a 'Market Maker' on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms.  Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com.   He became a member of the Market Technicians Association in 1982.

Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.

His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading.  It is now also published in Chinese.  Mark has appeared in speaking engagements and seminars in the U.S. and Canada

Dow Finishes Choppy Trading Day Above 40,000 For First Time

Following the modest pullback seen over the course of the previous session, stocks showed a lack of direction during
trading on Friday. The major average spent the day bouncing back and forth across the unchanged line before eventually
closing narrowly mixed.

Despite the choppy trading, the Dow closed above 40,000 for the first time, rising 134.21 points or 0.3 percent to
40,003.59.

The S&P 500 also crept up 6.17 points or 0.1 percent to 5,303.27, while the tech-heavy Nasdaq edged down 12.35 points or
0.1 percent at 16,685.97.

For the week, the Nasdaq surged by 2.1 percent, while the S&P 500 jumped by 1.5 percent and the Dow shot up by 1.2 percent.

The choppy trading on Wall Street came as traders seemed reluctant to make significant moves as they digest recent strength
in the markets, which saw the major averages reach new record highs.

While recent economic data has generated optimism about an interest rate cut in the coming months, comments from Federal
Reserve officials have put a damper on some of the cheer.

Following the slew of U.S. data released over the past two days, the economic calendar was relatively quiet today, although
the Conference Board released a report showing a continued decrease by its reading on leading U.S. economic indicators in
the month of April.

The Conference Board said its leading economic index fell by 0.6 percent in April after dipping by 0.3 percent in March.
Economists had expected the index to decrease by another 0.3 percent.

Among individual stocks, shares of Reddit (RDDT) moved sharply higher after the social media company announced a
partnership with OpenAI.

Online networking company Doximity (DOCS) also surged after reporting better than expected fiscal fourth quarter results.

On the other hand, shares of GameStop (GME) plunged after the video game retailer forecast a decrease in first quarter
sales and revealed plans to sell up to 45 million class A common shares

Most of the major sectors showed only modest moves on the day, contributing to the lackluster performance by the broader
markets.

Gold stocks showed a substantial move to the upside, however, with the NYSE Arca Gold Bugs Index surging by 3.7 percent to
a two-year closing high. The rally by gold stocks came amid a sharp increase by the price of the precious metal.

Oil producer, brokerage and networking stocks also turned in strong performances, while modest weakness emerged among
semiconductor stocks.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday.
Japan's Nikkei 225 Index fell by 0.3 percent, while Hong Kong's Hang Seng Index advanced by 0.9 percent and China's
Shanghai Composite Index jumped by 1.0 percent.

Meanwhile, the major European markets all moved to the downside on the day. While the French CAC 40 Index declined by 0.3
percent, the U.K.'s FTSE 100 Index dipped by 0.2 percent and the German DAX Index edged down by 0.1 percent.

In the bond market, treasuries came under pressure, extending the modest pullback seen over the course of the previous
session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.3 basis
points to 4.420 percent.

Looking Ahead

The U.S. economic calendar for next week is relatively quiet, although reports on durable goods orders and new and existing
home sales may attraction some attention along with remarks by several Fed officials.

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https://www.howestreet.com/2024/05/is-it-time-to-sell-in-may-mark-leibovit/

 

WHO IS MARK LEIBOVIT?

MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS  a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.

Mark's extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”.  He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell's MoneyTalks.

In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked  #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.

He was a 'Market Maker' on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms.  Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com.   He became a member of the Market Technicians Association in 1982.

Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.

His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading.  It is now also published in Chinese.  Mark has appeared in speaking engagements and seminars in the U.S. and Canada

U.S. Stocks Move Modestly Lower After Seeing Early Strength

Stocks moved to the upside early in the session on Thursday but fluctuated over the course of the trading day before eventually closing modestly lower. The major averages partly offset the strong upward move seen over the two previous sessions.

While the Dow climbed above 40,000 for the first time in morning trading, the blue chip index ended the day down 38.62 points or 0.1 percent to 39,869.38. The S&P 500 dipped 11.05 points or 0.2 percent to 5,297.10 and the Nasdaq fell 44.07 points or 0.3 percent to 16,698.32.

The early strength on Wall Street reflected an extension of the rally seen during Wednesday's session, which came amid optimism about the outlook for interest rates following tamer-than-expected consumer price inflation data.

A closely watched Labor Department showed consumer prices rose by less than expected in April, reinforcing expectations the Federal Reserve will lower interest rates in the coming months.

According to CME Group's FedWatch tool, the chances rates will be a quarter point lower by September have reached 85.5 percent.

Buying interest waned over the course of the session, however, with traders seemingly pausing to assess the near-term outlook for the markets after the major averages reached new record highs.

On the U.S. economic, the Labor Department released a report this morning showing a pullback by initial jobless claims in the week ended May 11th.

The Labor Department said initial jobless claims slid to 222,000, a decrease of 10,000 from the previous week's revised level of 232,000.

Economists had expected jobless claims to fall to 220,000 from the 231,000 originally reported for the previous week.

The pullback came after jobless claims rose to their highest level since the week ended August 26, 2023 in the previous week.

Meanwhile, traders largely shrugged off a separate Labor Department report showing U.S. import prices jumped by much more than expected in April.

The report said import prices shot up by 0.9 percent in April after climbing by an upwardly revised 0.6 percent in March.

Economists had expected import prices to rise by 0.3 percent compared to the 0.4 percent increase originally reported for the previous month.

The annual rate of growth by import prices also accelerated to 1.1 percent in April from 0.4 percent in March, reflecting the largest over-the-year increase since December 2022.

"The surge in April import prices won't instill the Fed with greater confidence inflation is decelerating, but officials will assuredly put much more stock in yesterday's CPI report which was a small step in the right direction and keeps a rate cut in September, our baseline forecast, firmly on the table," said Matthew Martin, U.S. Economist at Oxford Economics.

A separate report released by the Fed showed U.S. industrial production came in flat in the month of April, with a surge in utilities output offset by decreases in mining and manufacturing output.

The Fed said industrial production came in unchanged in April after inching up by a downwardly revised 0.1 percent in March.

Economists had expected industrial production to edge up by 0.1 percent compared to the 0.4 percent increase originally reported for the previous month.

Sector News

While most of the major sectors showed only modest moves on the day, housing stocks moved sharply lower, dragging the Philadelphia Housing Sector Index down by 2.8 percent.

The index pulled back off its best closing level in well over a month after a Commerce Department report showed a rebound by housing starts in April but a continued slump by building permits.

Airline stocks also showed a significant move to the downside, with the NYSE Arca Airline Index falling by 1.4 percent.

Computer hardware stocks also gave back ground after surging during Wednesday's session, while tobacco stocks moved notably higher, driving the NYSE Arca Tobacco Index up by 1.3 percent.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Japan's Nikkei 225 Index jumped by 1.4 percent, while Hong Kong's Hang Seng Index surged by 1.6 percent.

Meanwhile, the major European markets moved to the downside on the day. While the U.K.'s FTSE 100 Index edged down by 0.1 percent, the French CAC 40 Index and the German DAX Index slid by 0.6 percent and 0.7 percent, respectively.

In the bond market, treasuries moved modestly lower over the course of the session after seeing initial strength. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose 2.1 basis points to 4.377 percent.

Looking Ahead

Following the slew of U.S. data released over the past two days, the economic calendar is relatively quiet on Friday, although the Conference Board's report on leading economic indicators in April may still attract some attention.

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---

THE VR FORECASTER - ANNUAL FORECAST MODEL 

ORDER TODAY AND WE WILL MANUALLY EMAIL YOU THE REPORT BEFORE IT IS POSTED ON THE WEBSITE

HERE IS THE 2023 ANNUAL FORECAST MODEL WITH THE 'RESULTS' SUPERIMPOSED

HERE IS THE 2023 ANNUAL FORECAST MODEL FOR BITCOIN WITH THE 'RESULTS' SUPERIMPOSED

ORDER PAGE

http://tinyurl.com/5f7wb6zs

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