Newsletters, Reports, Updates, and Alerts from a Top Market Timer with 45 Years of Experience

https://www.howestreet.com/2024/09/september-a-treacherous-time-for-traders-mark-leibovit/

BULL TRAP CONDITION CONTINUES TO EXIST DESPITE WHAT YOU HEAR IN THE MEDIA

DANGER DANGER WILL ROBINSON

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

~ Ayn Rand

U.S. Stocks Show Strong Move Back To The Upside

Following the sell-off seen in the previous week, stocks showed a strong move back to the upside during trading on Monday. The major averages all moved sharply higher over the course of the session.

Savor Gourmet Food Ice-Cold Drinks As You Cheer On Your Favorite Team On 40+ TVsEnjoy an energetic atmosphere with dozens of games to compete with friends on, located in Desert Ridge!

The major averages pulled back off their highs of the session in afternoon trading but remained firmly positive. The Dow surged 484.18 points or 1.2 percent to 40,829.59, the Nasdaq jumped 193.77 points or 1.2 percent to 16,884.60 and the S&P 500 shot up 62.63 points or 1.2 percent to 5,471.05.
Savor Gourmet Food Ice-Cold Drinks As You Cheer On Your Favorite Team On 40+ TVsEnjoy an energetic atmosphere with dozens of games to compete with friends on, located in Desert Ridge!>

The rally on Wall Street came as traders looked to pick up stocks at somewhat reduced levels following the steep drop seen last week, which dragged the Nasdaq down to its lowest levels in nearly a month.

Optimism the Federal Reserve will lower interest rates later this month has also contributed to the strength on Wall Street despite lingering concerns about the outlook for the U.S. economy.

Meanwhile, traders continue to look ahead to the release of closely watched reports on consumer and producer price inflation later this week.

The reports are expected to show a slowdown by the annual rate of consumer price growth but an acceleration by the annual rate of producer price growth.

While the Fed is almost universally expected to begin lowering interest rates later this month, the data could impact expectations about the pace of rate cuts.

CME Group's FedWatch Tool is currently indicating a 73 percent chance the Fed will lower rates by 25 basis points and a 29 percent chance of a 50 basis point rate cut.

Sector News

Airline stocks saw substantial strength on the day, with the NYSE Arca Airline Index soaring by 2.3 percent to its best closing level in over a month.

JetBlue (JBLU) helped lead the sector higher, spiking by 7.2 percent after Bank of America upgraded its rating on the airline's stock to Neutral from Underperform.

Significant strength was also visible among semiconductor stocks, as reflected by the 2.2 percent jump by the Philadelphia Semiconductor Index. The index rebounded after ending last Friday's trading at a one-month closing low.

Networking, banking and computer hardware stocks also saw notable strength on the day, moving higher along with most of the other major sectors.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Friday. Japan's Nikkei 225 Index fell by 0.5 percent, while China's Shanghai Composite Index slumped by 1.1 percent.

Meanwhile, the major European markets moved to the upside on the day. While the U.K.'s FTSE 100 Index shot up by 1.1 percent, the French CAC 40 Index jumped by 1.0 percent and the German DAX Index advanced by 0.8 percent.

In the bond market, treasuries moved modestly higher over the course of the session after seeing early weakness. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.3 basis points to 3.697 percent.

Looking Ahead

A lack of major U.S. economic data may lead to relatively light trading on Tuesday ahead of the closely watched inflation data.---------

Yes, that's a cartoon of me.  Louis Rukeyser had us dressed up in 'elf' costumes on the screen broadcast each week.  I've dated myself. That occurred for me between 1988-1996.  Lou didn't like any bearish comments, so myself and other elves got dumped in 1996.  

WHO am I?

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.

RFK Jr. Shreds Democrats for Abandoning Democracy

https://tinyurl.com/24sh92xa

La Niña can impact weather around the world. For example, in 2024, NOAA projected a 60% chance that La Niña would develop between June and August, which could increase the chances of a dangerous Atlantic hurricane season.

https://tinyurl.com/msfk2je9

I USE JOEL WALLACH'S SUPPLEMENTS EVERY DAY.  MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE

https://www.howestreet.com/2024/09/september-a-treacherous-time-for-traders-mark-leibovit/

BULL TRAP CONDITION CONTINUES TO EXIST DESPITE WHAT YOU HEAR IN THE MEDIA

DANGER DANGER WILL ROBINSON

Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people's savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.

~ Ayn Rand

Disappointing Jobs Data Leads To Sell-Off On Wall Street

With traders reacting negatively the monthly jobs report, stocks moved sharply lower during trading on Friday. The major averages all showed significant moves to the downside on the day, with the tech-heavy Nasdaq tumbling to its lowest closing level in almost a month.

The major averages finished the day near their lows of the session. The Nasdaq plummeted 436.83 points or 2.6 percent to 16,690.83, the S&P 500 plunged 94.99 points or 1.7 percent to 5,408.42 and the Dow slumped 410.34 points or 1.0 percent to 40,345.41.
Mold and mildew, prepare to cower in the shower.When you’re too good for most messes, you’re just right for all of them. CLR® Mold & Mildew is the overqualified cleaner.>

For the holiday-shortened week, the Nasdaq saw a 5.8 percent nosedive, the S&P 500 plummeted by 4.3 percent and the Dow tumbled by 2.9 percent.

The sell-off on Wall Street came amid concerns about the outlook for the U.S. economy after the Labor Department released a closely watched report showing employment rose by less than expected in the month of August.

The Labor Department said non-farm payroll employment climbed by 142,000 jobs in August compared to economist estimates for an increase of 160,000 jobs.

The report also said the increases in employment in June in July were downwardly revised to 118,000 jobs and 89,000 jobs, respectively, reflecting a net downward revision of 86,000 jobs.

Meanwhile, the Labor Department said the unemployment rate edged down to 4.2 percent in August from 4.3 percent in July.

The modest decrease, which was in line with estimates, came after the unemployment rate reached its highest level since October 2021.

While the data is seen as increasing the chances of a 50 basis point interest rate cut by the Federal Reserve later this month, traders seemed worried the central bank may have waited too long to prevent the economy from slipping into a recession.

"The large downward revision to payroll gains in the prior two months and the continued narrow concentration in payroll advances underscore that the labor market is losing steam rather quickly," said Nationwide Chief Economist Kathy Bostjancic.

Sector News

Semiconductor stocks turned in some of the market's worst performances on the day, with the Philadelphia Semiconductor Index plunging by 4.5 percent to its lowest closing level in a month.

Broadcom (AVGO) helped lead the sector lower, plummeting by 10.4 percent after reporting better than expected fiscal third quarter results but providing disappointing revenue guidance for the current quarter.

Significant weakness was also visible among gold stocks, which moved lower along with the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 2.7 percent.

Banking stocks also saw considerable weakness on the day, resulting in a 2.6 percent slump by the KBW Bank Index.

Oil service, computer hardware and networking stocks also showed notable moves to the downside, moving lower along with most of the other major sectors.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Friday. Japan's Nikkei 225 Index declined 0.7 percent, while China's Shanghai Composite Index fell by 0.8 percent.

The major European markets have also moved to the downside on the day. While the German DAX Index tumbled by 1.5 percent, the French CAC 40 Index slumped by 1.1 percent and the U.K.'s FTSE 100 Index slid by 0.7 percent.

In the bond market, treasuries fluctuated over the course of the session before closing modestly lower. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped 2.1 basis points to 3.710 percent, its lowest closing level in over a year.

Looking Ahead

Next week's trading is likely to be driven by reaction to closely watched reports on consumer and producer price inflation in the month of August.

Yes, that's a cartoon of me.  Louis Rukeyser had us dressed up in 'elf' costumes on the screen broadcast each week.  I've dated myself. That occurred for me between 1988-1996.  Lou didn't like any bearish comments, so myself and other elves got dumped in 1996.  

WHO am I?

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.

RFK Jr. Shreds Democrats for Abandoning Democracy

https://tinyurl.com/24sh92xa

La Niña can impact weather around the world. For example, in 2024, NOAA projected a 60% chance that La Niña would develop between June and August, which could increase the chances of a dangerous Atlantic hurricane season.

https://tinyurl.com/msfk2je9

I USE JOEL WALLACH'S SUPPLEMENTS EVERY DAY.  MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE

https://www.howestreet.com/2024/09/september-a-treacherous-time-for-traders-mark-leibovit/

COME ON, DAD. IT'S TIME TO EAT

DISCLAIMER: