LEIBOVIT VR NEWSLETTERS – FRIDAY – OCTOBER 4 – ROSH HASHANA

 

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

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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 Continue To Experience Choppy Trading Before Closing Modestly Lower

Following the lackluster performance seen during trading on Wednesday, stocks continued to experience choppy trading during Thursday’s session. The major averages once again spent the day bouncing back and forth across the unchanged line.

The major averages eventually finished the day modestly lower. While the Nasdaq edged down 6.65 points or less than a tenth of a percent to 17,918.48, the S&P 500 slipped 9.60 points or 0.2 percent to 5,699.94 and the narrower Dow fell 184.93 points or 0.4 percent to 42,011.59.

The lack of direction on Wall Street came as traders seemed reluctant to make significant moves ahead of the release of the Labor Department’s highly anticipated monthly jobs report on Friday.

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.

The data could impact the outlook for the U.S. economy as well as expectations regarding how aggressively the Federal Reserve will lower interest rates.

With the jobs data looming, CME Group’s FedWatch Tool is currently indicating a 65.4 percent chance the Fed will lower rates by a quarter point and a 34.6 percent chance of another half point rate cut.

A day ahead of the release of the more closely watched monthly jobs report, the Labor Department released a report this morning showing an uptick by first-time claims for U.S. unemployment benefits in the week ended September 28th.

Traders also kept an eye on the latest developments in the Middle East, where an escalating conflict has contributed to a sharp increase by the price of crude oil.

The Israel Defense Forces said around 100 projectiles were launched from Lebanon into Israel earlier today, while the IDF also said they have killed several Hezbollah commanders in a strike on a military structure in southern Lebanon.

The latest developments come following Iran’s ballistic missile attack on Israel earlier this week, with Israel vowing a “very strong” response.

Sector News

Gold stocks saw substantial weakness on the day, dragging the NYSE Arca Gold Bugs Index down by 2.0 percent. The weakness in the sector came despite amodest increase by the price of gold.

Significant weakness was also visible among airline stocks, as reflected by the 1.4 percent loss posted by the NYSE Arca Airline Index.

Steel, networking and biotechnology stocks also showed notable moves to the downside, while energy stocks moved sharply higher along with the price of crude oil.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in another mixed performance during trading on Thursday. Japan’s Nikkei 225 Index surged by 2.0 percent, while Hong Kong’s Hang Seng Index slumped by 1.5 percent.

Meanwhile, the major European markets all moved to the downside on the day. While the French CAC 40 Index slumped by 1.3 percent, the German DAX Index slid by 0.8 percent and the U.K.’s FTSE 100 Index edged down by 0.1 percent.

In the bond market, treasuries extended the downward move seen in the previous session. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, advanced 6.5 basis points to 3.850 percent.

Looking Ahead

Trading on Friday is likely be driven by reaction to the Labor Department’s monthly jobs reports and its impact on the outlook for the economy and interest rates.

The union representing 45,000 striking U.S. dockworkers at East and Gulf coast ports has reached a deal to suspend their strike until Jan. 15 to provide time to negotiate a new contract, a person briefed on the matter says.

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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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