https://www.howestreet.com/2024/09/is-the-fed-rate-cut-a-warning-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
Nasdaq, S&P 500 Give Back Ground But Dow Inches Up To New Record Closing High
Stocks moved mostly lower early in the session on Friday but regained ground over the course of the trading day. The major averages climbed well off their worst levels of the day before eventually closing narrowly mixed.
While the Dow inched up 38.17 points or 0.1 percent to a new record closing high of 42,063.36, the S&P 500 slipped 11.09 points or 0.2 percent to 5,702.55 and the Nasdaq fell 65.66 points or 0.4 percent to 17,948.32.
Even with the mixed performance on the day, the major averages all posted strong gains for the week. The Dow shot up by 1.6 percent, while the Nasdaq and the S&P 500 jumped by 1.5 percent and 1.4 percent, respectively.
The early weakness on Wall Street partly reflected profit taking, with some traders cashing in on the significant rally seen during trading on Thursday.
Stocks moved sharply higher on Thursday amid a positive reaction to the Federal Reserve’s decision to slash interest rates by half a percentage point.
Selling pressure waned over the course of the session, however, as traders seemed reluctant to make more significant moves as they question what the next catalyst for the markets will be now that the Fed’s first rate cut is in the rearview mirror.
A lack of major U.S. economic data may also have kept some traders on the sidelines ahead of the release of several key reports next week.
While the Fed has already signaled plans to continue lowering rates in the coming months, the data could still impact market sentiment.
Reports on durable goods orders, new home sales and consumer confidence are likely to attract attention next week along with a report on personal income and spending that includes the Fed’s preferred inflation gauge.
Sector News
Despite the recovery attempt by the broader markets, transportation stocks continued to see substantial weakness, dragging the Dow Jones Transportation Average down by 3.5 percent. The index ended Thursday’s session at its best closing level in over a year.
A steep drop by shares of FedEx (FDX) weighed on the sector, with the delivery giant plunging by 15.2 percent after reporting disappointing fiscal first quarter earnings and lowering its full-year guidance.
Housing stocks also showed a significant move to the downside on the day, resulting in a 2.3 percent slump by the Philadelphia Housing Sector Index.
Steel and semiconductor stocks also saw considerable weakness, while gold and computer hardware stocks showed strong moves to the upside.
Other Markets
In overseas trading, stocks markets across the Asia-Pacific region moved mostly higher during trading on Friday. Japan’s Nikkei 225 Index shot up by 1.5 percent, while Hong Kong’s Hang Seng Index leapt by 1.4 percent.
Meanwhile, the major European markets showed notable moves to the downside on the day. While the U.K.’s FTSE 100 Index slumped by 1.2 percent, the French CAC 40 Index and the German DAX Index both tumbled by 1.5 percent.
In the bond market, treasuries showed a lack of direction over the course of the session before closing modestly higher. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down by 1.2 basis points to 3.728 percent.
OPPORTUNITY TO ACCESS MARK LEIBOVIT’S PROPRIETARY VOLUME REVERSAL INDICATOR – THIS IS THE ONLY PLACE TO DO IT!
https://www.metastock.com/prod
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.
The Walt Disney Company has been criticized (MYSELF INCLUDED) for its “woke” content and has faced backlash from conservative politicians and social media voices. Some of the criticisms include:
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Donations to LGBTQIA+ organizations
Some shareholders have argued that Disney’s donations to organizations that serve the LGBTQIA+ community are “extreme pursuits” that ignore the beliefs of most Americans.
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Inclusion of LGBTQ+ characters
Some critics have taken issue with Disney’s inclusion of LGBTQ+ characters and elements in stories, such as a same-sex kiss in Lightyear and a nonbinary character in Elemental.
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Black Ariel in Little Mermaid
Some critics have taken issue with the inclusion of a Black Ariel in the recent Little Mermaid.
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Economic and reputational consequences
Some claim that Disney’s “woke virtue signaling” has had economic and reputational consequences, with Disney’s market cap falling nearly 40% since February 2021.
- Disney’s biggest priority is entertaining audiences
- Disney is focused on the future, not the past
- Disney needs to be more sensitive to the interest of a broad audience
- Disney’s primary mission is to entertain and then have a positive impact on the world through entertainment
RFK Jr. Shreds Democrats for Abandoning Democracy
I USE JOEL WALLACH’S SUPPLEMENTS EVERY DAY. MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE
COME ON, DAD. IT’S TIME TO EAT
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