LEIBOVIT VR NEWSLETTERS – THURSDAY, MAY 23, 2024 – HOWLING AT THE MOON!

INVITATION TO ATTEND MY METASTOCK POWER POINT PRESENTATION – 1 PM ET THURSDAY, MAY 23.

https://www.metastock.com/offer/event/?whc=traders-conference&pc=eq-omni#lead-offers

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https://www.howestreet.com/2024/05/is-it-time-to-sell-in-may-mark-leibovit/

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DO YOU THINK ALL THE RECENT NATURAL DISASTERS ARE COINCIDENCES?  MAYBE NOT IF YOU READ THE WORK OF BILL KOENIG. IF NOT, GOVERNMENT WEATHER EXPERIMENTS OR EXTRATERRESTRIAL INTERFERENCE?  NOT DISCOUNTING ANYTHING.  WOULD RATHER SEE WASHINGTON, D.C. UNDER SIEGE RATHER THAN IOWA!

 

WHO IS MARK LEIBOVIT?

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 panting dogs got what they wanted from Nvidia and more since they accounted a 10 to 1 stock split which often leads to higher prices.  I wouldn’t be surprised if the manipulators who adjust the Dow Jones Industrial 30 stock components are considering adding Nvidia to the DJ – only because that is what they are trained to do to ‘goose up’ the index. This has been the case for decades and the financial press sits idly by unquestioning their tactics.

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U.S. Stocks Climb Off Worst Levels But Remain In The Red After Fed Minutes

Stocks showed a lack of direction throughout much of the trading session on Wednesday before coming under pressure
following the release of the minutes of the Federal Reserve’s latest monetary policy meeting.

The major averages climbed off their worst levels going into the close but ended the day in the red after ending Tuesday’s
choppy trading session modestly higher.

The Dow slid 201.95 points or 0.5 percent to 39,671.04, the S&P 500 fell 14.40 points or 0.3 percent to 5,307.01 and the
Nasdaq dipped 31.08 points or 0.2 percent at 16,801.54.

The weakness that emerged on Wall Street came as the Fed minutes suggested officials expect to maintain interest rates at
current levels longer than previously thought.

The minutes of the April 30-May 1 meeting said participants highlighted disappointing readings on inflation over the first
quarter and indicators pointing to strong economic momentum.

The participants subsequently assessed that it would take longer than previously anticipated for them to gain “greater
confidence” inflation is moving sustainably toward 2 percent.

With Fed officials repeatedly saying they need “greater confidence” inflation is slowing before they cut rates, the minutes
said participants discussed maintaining the current restrictive policy stance for longer.

While officials also discussed reducing policy restraint in the event of an unexpected weakening in labor market
conditions, various participants also mentioned a willingness to raise rates further should risks to inflation materialize
in a way that such an action became appropriate.

“The investing world will have to wait at least another month to hear anything about rate cuts but the kicker in this
report was the willingness of some participants to restrict policy further which apparently according to the markets action
was quite the surprise,” said Alex McGrath, Chief Investment Officer for NorthEnd Private Wealth.

Selling pressure remained relatively subdued, however, as traders seemed reluctant to make significant moves ahead of the
release of quarterly results from AI darling Nvidia (NVDA).

Nvidia is scheduled to release its fiscal first quarter results after the close of today’s trading, with analysts expecting
the company to report substantial earnings and revenue growth.

Sector News

Gold stocks moved sharply lower over the course of the session, resulting in a 3.7 percent nosedive by the NYSE Arca Gold
Bugs Index. The sell-off by gold stocks came amid a steep drop by the price of the precious metal.

A sharp decline by the price of crude oil also contributed to significant weakness among oil service stocks, as reflected
by the 3.4 percent plunge by the Philadelphia Oil Service Index.

Housing stocks also saw considerable weakness following the release of a report unexpectedly showing a continued decrease
by existing home sales in August, with the Philadelphia Housing Sector Index tumbled by 2.4 percent.

Brokerage, oil producer and steel stocks also showed notable moves to the downside, while biotechnology and semiconductor
stocks bucked the downtrend.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Wednesday. Japan’s
Nikkei 225 Index slid by 0.9 percent, while Hong Kong’s Hang Seng Index edged down by 0.1 percent.

The major European markets also moved to the downside on the day. While the German DAX Index dipped by 0.3 percent, the
French CAC 40 Index and the U.K.’s FTSE 100 Index both fell by 0.6 percent.

In the bond market, treasuries moved modestly lower following the release of the Fed minutes. As a result, the yield on the
benchmark ten-year note, which moves opposite of its price, rose 2.0 basis points to 4.434 percent.

Looking Ahead

Trading on Thursday is likely to be driven by reaction to Nvidia’s quarterly results, although reports on weekly jobless
claims and new home sales may also attract attention.

 

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Here is a copy of the Federal Reserve Abolition Act proposed by Sen. Massie today. It includes a one-year transition from the date it passes, assets are folded into the Treasury  and a progress report is to be given to Congress in 18 months. It’s time to end the Fed!

https://massie.house.gov/uploadedfiles/endthefed.pdf

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THE VR FORECASTER – ANNUAL FORECAST MODEL 

ORDER TODAY AND WE WILL MANUALLY EMAIL YOU THE REPORT BEFORE IT IS POSTED ON THE WEBSITE

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http://tinyurl.com/5f7wb6zs

 

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