This is the year of the DRAGON in Far East beginning February 10. The Dragon symbolizes power, nobleness, honor, luck, and success in traditional Chinese culture. The Dragon is a supernatural being with no parallel for talent and excellence. The Dragon appears in many ancient cultures with a similar name. One view that the dragon represents spaceships that visited the earth and were described as dragons due to the misunderstanding of technology.

This guy is still my friend. Recall, I had warned that the first quarter of 2024 and possibly beyond  might experience indigestion, despite current rally which could be bull trap.  This does not say we can try and trade the insanity along the way.

I do wish to point out for the umteenth time that the insanity surrounding the financial media and Wall Street regarding what interest rates and/or the FED may or may do continues.  Is the only of importance interest rates?   Hardly.  Plus the data we are being told to rely on is pretty much manipulated or outright false. 

GENERAL MEDIA NEWS:

Stocks […]

Stocks moved mostly higher over the course of the trading day on Thursday, largely offsetting the weakness seen to start the week. The major averages all moved to the upside, with the tech-heavy Nasdaq leading the advance.

The major averages reached new highs late in the session, closing firmly in positive territory. The Nasdaq surged 200.03 points or 1.4 percent to 15,055.65, the S&P 500 advanced 41.73 points or 0.9 percent to 4,780.93 and the S&P 500 climbed 201.94 points or 0.5 percent to 37,468.61.

Tech stocks helped lead the way higher on Wall Street, with shares of Apple (AAPL) jumping by 3.3 percent after Bank of America upgraded its rating on the company’s stock to Buy from Neutral.

A rally by semiconductor stocks also contributed to the surge by the Nasdaq, as the Philadelphia Semiconductor Index spiked by 3.4 percent.

Taiwan Semiconductor (TSM) helped lead the sector higher, soaring 9.8 percent after reporting better than expected fourth quarter results and providing upbeat guidance.

Networking, computer hardware and software stocks also showed notable moves to the upside over the course of the session.

Outside the tech sector, airline stocks saw substantial strength on the day, resulting […]