Russia Now Responds This War is US, UK & NATO vs Russia – Not Ukraine
https://tinyurl.com/5fneph2e
Tornadoes spotted in Oklahoma as rare 'high risk' ramps up in the Central US
More than 1 million people in parts of Arkansas and Oklahoma are under a tornado watch
https://www.cnn.com/weather/live-news/tornado-storms-forecast-oklahoma-kansas-05-06-24/index.html
https://www.howestreet.com/2024/05/us-marijuana-stocks-going-sky-high-mark-leibovit/
THE VR FORECASTER - ANNUAL FORECAST MODEL
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HERE IS THE 2023 ANNUAL FORECAST MODEL WITH THE 'RESULTS' SUPERIMPOSED
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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
U.S. Stocks See Further Upside Amid Renewed Interest Rate Optimism
Stocks showed a strong move to the upside during trading on Monday, extending the rally seen to close out the previous week. With the continued advance, the major averages reached their best closing levels in almost a month.
The Nasdaq and the S&P 500 reached new highs for the session going into the close of trading, The Nasdaq surged 192.92 points or 1.2 percent to 16,349.25, the S&P 500 jumped 52.95 points or 1.0 percent to 5,180.74 and the Dow climbed 176.59 points or 0.5 percent to 38,862.27.
Stocks continued to benefit from the upward momentum seen over the two previous sessions, which partly reflected renewed optimism about the outlook for interest rates.
Relatively dovish comments from Federal Reserve Chair Jerome Powell combined with weaker-than-expected job growth in April have largely eliminated short-lived concerns the Fed might actually consider raising rates.
Investors have instead grown increasingly confident about a rate cut in the coming months, with the chances rates will be lower by September now at 83.5 percent, according to CME Group's FedWatch Tool.
However, the upward move may have been exaggerated by light volume, as a lack of major U.S. economic data kepts some traders on the sidelines.
The economic calendar remains relatively quiet throughout the week, although a preliminary reading on consumer sentiment in May might attract some attention along with remarks by several Fed officials.
Among individual stocks, shares of Bausch + Lomb (BLCO) moved sharply higher on the day after Morgan Stanley upgraded its rating on the eye care company's stock to Overweight from Equal Weight.
Media and entertainment giant Paramount Global (PARA) also surged after a report from the New York Times said the company decided to formally open negotiations with a bidding group led by Sony Pictures Entertainment and the private equity giant Apollo.
Meanwhile, shares of Spirit Airlines (SAVE) plummeted after the discount carrier reported a slightly wider than expected first quarter loss and provided disappointing second quarter revenue guidance.
Sector News
Semiconductor stocks showed a substantial move to the upside over the course of the session, driving the Philadelphia Semiconductor Index up by 2.2 percent to its best closing level in almost a month.
Considerable strength was also visible among gold stocks, as reflected by the 2.2 percent surge by the NYSE Arca Gold Bugs Index.
The rally by gold stocks came amid an increase by the price of the precious metal, with gold for June delivery climbing $24.20 to $2,332.80 an ounce.
Computer hardware stocks also saw significant strength on the day, resulting in a 2.2 percent jump by the NYSE Arca Computer Hardware Index.
Software, brokerage and housing stocks also showed notable moves to the upside, moving higher along with most of the other major sectors.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Monday, with markets in Japan and South Korea closed for holidays. China's Shanghai Composite Index rallied by 1.2 percent, while Hong Kong's Hang Seng Index climbed by 0.6 percent.
The major European markets also moved to the upside on the day. While the German DAX Index jumped by 1.0 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index both rose by 0.5 percent.
In the bond market, treasuries showed a lack of direction over the course of the session before closing roughly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, edged down 1.1 basis points to 4.489 percent.
Looking Ahead
Earnings news may drive trading on Tuesday amid another quiet day on the U.S. economic front, with Disney (DIS) among the companies due to report their quarterly results before the start of trading.
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OPPORTUNITY TO ACCESS MARK LEIBOVIT'S PROPRIETARY VOLUME REVERSAL INDICATOR - THIS IS THE ONLY PLACE TO DO IT!
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FOLKS THIS ALL YOU NEEDED TO KNOW! HISTORICALLY A GOOD SIGN THAT WE ARE AT OR NEAR A MARKET TOP = BULLISH MEDIA HEADLINES LIKE THIS. RECALL THE MARCH 10, 2000 TOP HEADLINE IN THE WALL STREET JOURNAL (BELOW) RIGHT AT THE TOP!
DID YOU MISS THE RECENT METASTOCK MARK LEIBOVIT WEBINAR - POWERPOINT?
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COME ON, DAD. IT'S TIME TO EAT
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