LEIBOVIT VR NEWSLETTERS – WEDNESDAY – OCTOBER 2, 2024 –

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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Middle East Concerns Contribute To Weakness On Wall Street

After moving sharply lower early in the session, stocks regained some ground over the course of the trading day on Tuesday but remained firmly negative.
The major averages all moved to the downside on the day, with the tech-heavy Nasdaq leading the way lower.

The Nasdaq tumbled 278.81 points or 1.5 percent to 17,910.36, the S&P 500 slumped 53.73 points or 0.9 percent to 5,708.75 and the Dow fell 173.18 points
or 0.4 percent to 42,156.97.

With the decreases on the day, the Dow and the S&P 500 pulled back off the record closing highs set in the previous session.

The weakness on Wall Street came amid escalating tensions in the Middle East after Iran launched a ballistic missile attack against Israel.

Iran’s Islamic Revolutionary Guard Corps said the attack was in response to the killing of Hezbollah leader Hassan Nasrallah and others in recent Israeli
airstrikes.

The attack also came after Israel launched ground operations against the Iranian-backed militia group Hezbollah in southern Lebanon.

Israel Defense Forces spokesperson Rear Admiral Daniel Hagari warned the attack by Iran “will have consequences.”

A senior White House official said earlier in the day that the U.S. had indications Iran was preparing to imminently launch a ballistic missile attack
against Israel, contributing to the early sell-off by stocks.

“We are actively supporting defensive preparations to defend Israel against this attack. A direct military attack from Iran against Israel will carry
severe consequences for Iran,” the official said in a statement.

Selling pressure waned following the actual attack, however, as traders expressed optimism cooler heads will prevail, avoiding a broader regional
conflict.

The news from the Middle East largely overshadowed separate report showing a continued contraction by U.S. manufacturing activity in September and an
unexpected increase by U.S. job openings in August.

Concerns about the economic impact of a strike by dockworkers at seaports across the U.S. East and Gulf Coasts also weighed on Wall Street.

Around 45,000 dockworkers went on strike after the United States Maritime Alliance and the International Longshoremen’s Association failed to reach a
settlement on a new Master Contract.

Semiconductor stocks showed a substantial move to the downside, dragging the Philadelphia Semiconductor Index down by 2.9 percent.

Considerable weakness was also visible among computer hardware stocks, as reflected by the 2.6 percent plunge by the NYSE Arca Computer Hardware Index.

Banking stocks also saw significant weakness on the day, resulting in a 1.9 percent slump by the KBW Bank Index.

Software, airline and telecom stocks also saw notable weakness, 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 a mixed performance on Tuesday, with several major markets closed for
holidays. Japan’s Nikkei 225 Index jumped by 1.9 percent, while Australia’s S&P/ASX 200 Index slid by 0.7 percent.

The major European markets also turned mixed after seeing early strength. While the U.K.’s FTSE 100 Index rose by 0.5 percent, the German DAX Index fell
by 0.6 percent and the French CAC 40 Index declined by 0.8 percent.

In the bond market, treasuries moved sharply notably amid concerns about escalating tensions in the Middle East. Subsequently, the yield on the benchmark
ten-year note, which moves opposite of its price, slid 5.9 basis points to 3.743 percent.

Looking Ahead

A report from payroll process ADP on private sector employment in September may attract attention on Wednesday ahead of the release of the Labor
Department’s more closely watched monthly jobs report on Friday.

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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