https://www.howestreet.com/2024/10/will-chinas-stimulus-blitz-help-us-markets-mark-leibovit/

NEXT PODCAST THURSDAY EVENING

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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 On Firm Note; Dow, S&P Post New Record Highs

U.S. stocks started off on a somewhat flat note on Wednesday, but gained in strength as the day progressed, as investors assessed the minutes of the Federal Reserve’s most recent policy meeting, and looked ahead to the nation’s consumer price and producer price inflation data for more clarity on interest-rate trajectory.

The major averages all closed on a buoyant note, with the Dow and S&P 500 moving on to fresh record highs. The Dow ended with a gain of 431.63 points or 1.03 percent at 42,512.00. The S&P 500 closed up 40.91 points or 0.71 percent at 5,792.04, while the Nasdaq settled higher by 108.70 points or 0.6 percent to 18,291.62.

Apple Inc, Amazon, JPMorgan Chase, Oracle Corporation, Costco Wholesale Corporation, Merck, IBM, Caterpillar, Qualcomm and Texas Instruments gained 1 to 3 percent.

Morgan Stanley, Amgen, Uber Technologies, Goldman Sachs, Honeywell International and Palo Alto Networks also ended notably higher.

Alphabet closed down 1.6 percent, after the U.S. Department of Justice said it may ask a judge to force Google to divest parts of its business, including the Chrome browser and Android operating system, to curtail its search monopoly.

Tesla ended down 1.4 percent. Meta Platforms, Advanced Micro Devices, Salesforce and Adobe Inc. also closed weak.

The minutes from the Federal Reserve’s September meeting showed official agreed to cut interest rates but were unsure how aggressive to get, and ultimately decided on a half percentage point move, aiming to balance confidence on inflation with worries over the labor market.

The minutes said that policymakers decided to approve a jumbo rate cut of 50 basis points for the first time in more than four years, and also showed members divided over the economic outlook.

Some officials hoped for a smaller, quarter percentage point reduction as they sought assurance that inflation was moving sustainably lower and were less worried about the jobs picture.

The minutes noted that the vote to approve the 50 basis point cut came “in light of the progress on inflation and the balance of risks” against the labor market. The minutes noted that “a substantial majority of participants” favored the larger move, without specifying how many were opposed. The term “participants” suggests involvement of the full FOMC rather than just the 12 voters.

The minutes also noted that some members favored a reduction at the July meeting that never materialized.

In economic news, data from the Commerce Department said U.S. trade deficit shrank to $70.4 billion in August from a revised $78.9 billion in July. Economists had expected the trade deficit to decrease to $70.6 billion from the $78.8 billion originally reported for the previous month.

The narrower trade deficit came as the value of imports shot up by 2.0 percent to $271.8 billion, while the value of imports decreased by 0.9 percent to $342.2 billion.

In overseas trading, Asian stocks ended mixed on Wednesday as China’s stimulus rally fizzled out, the conflict in the Middle East persisted and investors awaited Federal Reserve meeting minutes as well as U.S. inflation data for interest rate clues.

Chinese stocks plunged as investors booked profits after recent rallies. The benchmark Shanghai Composite Index slumped 6.6 percent to 3,258.86 after officials failed to boost confidence in stimulus plans aimed at reviving the economy.

European stocks closed higher on Wednesday with traders building up some long positions ahead of the release of the minutes of the Federal Reserve’s most recent policy meeting.

The mood was positive as investors hoped the Chinese government will announce more fiscal stimulus as the economic planning agency’s emergency briefing raised skepticism over the sufficiency of previously planned measures.

The pan European Stoxx 600 climbed 0.66 percent. The U.K.’s FTSE 100 ended higher by 0.65 percent, Germany’s DAX gained 0.99 percent, and France’s CAC 40 ended 0.52 percent up.

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https://tinyurl.com/4tz84y6t

As Hurricane Milton slams Florida, scientists have joined officials battling the latest conspiracy theory in the deluge of disinformation: weather manipulation.

The conspiracy theory claims that recent hurricanes have been geo-engineered for special interests by the government. Like most conspiracy theories, this weather manipulation conspiracy is gleaned from a nugget of nuanced reality.

“The most durable conspiracy theories really do stem from a very small piece of truth that’s usually at the center of a bunch of other lies and myths and hoaxes and things like that,” according to Mike Rothschild, conspiracy theory expert and author of “Jewish Space Lasers: The Rothschilds and 200 Years of Conspiracy Theories.”

RELATED STORY | What is geoengineering, and why is it sparking climate change debate?

The latest disinformation swirling the hurricanes have pointed to Project STORMFURY, an effort whereby U.S. government attempted “human interference and hurricane modification” during the Cold War.

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https://tinyurl.com/2ejnk9mh

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Mark Leibovit, publisher of the VR Metals/Resource Letter, still believes the market has hit a short-term cycle peak.

“I’m not aggressive here,” he said. “I’ve been hedging on the short side a little bit as well, on and off, but I was looking at about a $2,700 target and
we got pretty close. I just think we may have run out of steam here a little bit, short-term.

“Cyclically, we may have exhausted the time for further advance, but I’m not a bear, I’m just cautious here,” Leibovit added. “I’m not adding positions,
and I had a couple of hedges on inverse gold and silver ETFs. I’m keeping the core long positions. I’m not out of the market, but I just feel like I
wouldn’t be establishing new long positions here.”

Leibovit said he doesn’t subscribe to the view that a stronger dollar will necessarily mean lower gold prices. “I’m in a whole different camp with the
dollar and gold,” he said. “I think the dollar and gold go up together, I don’t think there’s an inverse relationship. I think when central banks are out
there acquiring gold, they have to do it in dollars, and that drives the dollar up. I’m in the bullish dollar and gold scenario until we get an eventual
blow-off in gold, wherever that number is. Whether it’s $3,000, $5,000, whatever the eventual top is, the dollar should remain strong during that period
and maybe after that.”

Leibovit believes that the market is rallying for two primary reasons. “One, you’ve got the perception that lower interest rates are bullish,” he said. “I
don’t necessarily agree with that, it can mean that the Fed’s seeing a recession ahead and they’re trying to be proactive. But the street feels that’s
bullish, so I’ll give them credit for that.”

“I think the bigger motivation for the market going up is the acts on the part of China,” he said. “They’re becoming more aggressive and playing with the
money supply over there and changing their fiscal and monetary direction. I think that’s a big boost to the market and going forward. It makes me a little
less bearish about the market, if China is going to be involved, which was a drag pretty much the world economy for many months.”

“I think between the perception of lower interest rates on the part of the Fed and the action of China, [those are] more bullish for the markets than any
of the government statistics that you’re going to be hearing about.”

Leibovit did caution that it’s only early October, and there could still be surprises in store. “We still have the war in the Mid-East, and we’ve got the
election,” he said. “Who knows what’s going to happen the first week of November? There still could be some volatility in the market over the next 30
days, so I wouldn’t be sticking my neck out too far in any markets right here.”

Leibovit added that the BRICS summit is also coming up at the end of October, and it represents another risk for the gold market.

“They want to add back gold with the new currency,” he said. “They’re meeting in Russia, and of course Putin is a big buyer of gold himself, and a big
supporter of the organization. That’s why I’m not selling gold. I’m just hedging a little bit here, not chasing it. But that certainly is an ingredient to
hold it up here.”

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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