LEIBOVIT VR NEWSLETTERS – THURSDAY, OCTOBER 3, 2024 – ROSH HASHANA – THE NEW YEAR!

 

https://www.howestreet.com/2024/09/markets-lithium-gold-silver-cycles-fed-rate-cut-eric-hadik-mark-leibovit-ross-clark-this-week-in-money/

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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

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U.S. Stocks Close Slightly Higher Following Lackluster Session

After recovering from an early move to the downside, stocks showed a lack of direction over the course of the trading session on Wednesday. The major averages spent the day bouncing back and forth across the unchanged line before eventually closing slightly higher.

The Dow edged up 39.55 points or 0.1 percent to 42,196.52, the Nasdaq inched up 14.76 points or 0.1 percent to 17,925.12 and the S&P 500 crept up 0.79 points or less than a tenth of a percent to 5,709.54.

The early weakness on Wall Street partly reflected concerns about escalating tensions in the Middle East following Iran’s ballistic missile attack against Israel on Tuesday.

While Iran has said it is not interested in a wider war, the attacks have contributed to a surge by the price of crude oil, leading to worries higher energy prices will lead to a resurgence in inflation.

Waning optimism the Federal Reserve will continue to aggressively lower interest rates also weighed on stocks after payroll processor ADP released a report showing stronger than expected private sector job growth in the month of September.

ADP said private sector employment climbed by 143,000 jobs in September after rising by an upwardly revised 103,000 jobs in August.

Economists had expected private sector employment to advance by 120,000 jobs compared to the addition of 99,000 jobs originally reported for the previous month.

Selling pressure waned shortly after the start of trading, however, as traders continued to express optimism about the outlook for the economy following the jobs data.

On Friday, the Labor Department is due to release its more closely watched report on employment in the month of September.

Economists currently expect the report to show employment rose by 140,000 jobs in September after climbing by 142,000 jobs in August, while the unemployment rate is expected to hold at 4.2 percent.

Sector News

While most of the major sectors showed only modest moves, semiconductor stocks saw a significant rebound following recent weakness, driving the Philadelphia Semiconductor Index up by 1.5 percent.

Considerable strength was also visible among networking stocks, as reflected by the 1.5 percent gain posted by the NYSE Arca Networking Index.

Computer hardware and energy stocks also saw strength on the day, while airline and housing stocks moved to the downside.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Wednesday. Japan’s Nikkei 225 Index plunged by 2.2 percent, while Hong Kong’s Hang Seng Index spiked by 6.2 percent.

The major European markets also ended the day mixed. While the German DAX Index fell by 0.3 percent, the French CAC 40 Index inched up by 0.1 percent and the U.K.’s FTSE 100 Index rose by 0.2 percent.

In the bond market, treasuries gave back ground following the strength seen in the previous session. As result, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 4.2 basis points to 3.785 percent.

Looking Ahead

Trading on Thursday may be impacted by reaction to the latest U.S. economic data, including reports on weekly jobless claims, service sector activity and factory orders.

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EDITOR: WE NEED THE LIKES OF GENERAL MCCARTHER, GENERAL PATTON, GENERAL EISENSHOWER OR EVEN CIVIL WAR GENERAL SHERMAN TO SEND THE IRANIANS TO KINGDOM COME AND STOP THE TALKING

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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.

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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.

• 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.
• Black Ariel in Little Mermaid

  Some critics have taken issue with the inclusion of a Black Ariel in the recent Little Mermaid.

• 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. 

In response to these criticisms, Disney CEO Bob Iger has said that: 

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RFK Jr. Shreds Democrats for Abandoning Democracy

https://tinyurl.com/24sh92xa

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

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