260 replies to this topic

[K Wave]

Dow still in the bear containment zone as long as under 33800 after a slight overshoot in the hysteria yesterday.

 

But above 33800 again. combined with a few other factors, could be trouble for bears now.

 

Back under 33600, and this will start to look more like possible final upthrust before bears get busy under 33600...

 

Hard to believe Apple is going to blow the roof off with what are likely to be negative trailing 12 mo revenue numbers, but until reality comes back in vogue, ya never know..

If reality does come back, this stock sees a SERIOUS haircut. Current Price to Sales of 6.9 is absurd for a mature stagnating company. And Price to Book of 46!

 

What has Apple actually accomplished since Jobs died...slightly better cameras on their phones...whoop dee doo ....while competitors are now eating them alive on price performance value.

 

[redfoliage2]

What a bounce today, but I see this market is looking for trouble from the Fed .............................

PCE data out today indicate inflation remains sticky  - core PCE MOM stays the same at 0.3% and core PCE YOY 4.6% from 4.7%, higher than the consensus 4.5%.  With the asset prices at multi-month high what the Fed will do next week?  I see it has no choice but to stay hawkish ...........................

Edited by redfoliage2, 28 April 2023 - 07:53 AM.

[K Wave]

Pretty muted reaction on XOM to blowout earnings.

 

Watch yesterday's pivot battle on XLE....it is huge now....bulls still the game above it....but if it should get taken out....

 

[K Wave]

 

What a bounce today, but I see this market is looking for trouble from the Fed .............................

PCE data out today indicate inflation remains sticky  - core PCE MOM stays the same at 0.3% and core PCE YOY 4.6% from 4.7%, higher than the consensus 4.5%.  With the asset prices at multi-month high what the Fed will do next week?  I see it has no choice but to stay hawkish ...........................

 

EFFR over 5 might be the pucker point....4.83 now

[K Wave]

Breadth next few days could be critical....

 

Bears would not want to see Naz Summation reverse higher and take out last swing high.

 

https://stockcharts....id=p44465978337

[12SPX]

Yay the raging bull market is continuing on today.  Sorry got a little excited as the bulls always come out of hiding whenever there is a little rally in this flat market that has been going on now for about 16 months.  Talk to me about it being a bull after we make new all time highs!!  Up from the bottom yes but cmon get real, the everything bubble is still leaking and the economy is just starting to feel it. 78% of the population sees the economy getting worse so I think the grind market will continue at least until there is a glimmer of hope of a turn.  Right now the Fed is still threatening higher rates so its hard to see the economy turning up here, its still coming down.  The only reason the big stocks even beat their earnings was because they were cut in half from initial estimates for the year.  This rally may go a bit higher but to go crazy calling it a bull market in a way overvalued market, only a few stocks holding it up, call options back to inflated values, bonds remaining high competing with stocks, I think you've got to be kidding.  Grind baby grind!!  Anyhow, either way I'll be trading either way and for now I'm just keeping my short build going with an average 4135 right now.

[12SPX]

Oh my K look at that vix number gotta be looking ugly in charts!!  Average short 4140.....

[K Wave]

May get the target that has been beggin' to be hit on NDX after all....

 

IF so, what happens after that could be real big for longer term....

 

[K Wave]

SOX still laggin' badly....but if it recovers 3040 battle zone, bulls could come back to life...

 

[K Wave]

And after the 4 hour back tag N go on XHB  yesterday...

 

 

REIT may have saved itself....

 

Should have much better idea on things after May 4