CLOSE GUMMY_! ARVN OUT! Those of you hunting big game this touched $25 none of you told me- HF just sold it without asking me around $24.35 Arvinas, Inc. (ARVN) NasdaqGS - NasdaqGS Real Time Price. 23.66+1.79 (+8.18%)<---------- He's done it again! As of 12:06PM EST.
For Immediate Release. GBA Releases 2024 S&P Target:------>4,888. !! <<<<<<<<<< 2024 Primer You Did Not Get This From Me>>>>>>>>>>>>>>>>>> U.S. equity markets begin their last mile of 2023 in consolidation mode, as short-term technicals still show overbought/extended conditions in stocks against neutral(skewing bullish) investor sentiment and tightening liquidity conditions. While year-end seasonal bias can push stocks grudgingly higher into 12/29, the chasm between winners (Mag 7) and everything else (broader markets) remains wide, especially when adjusted for inflation (now running at just under 4% per year). We believe, therefore, that at some point in 1Q/2Q of the New Year, there will be another repricing that attempts to address underlying liquidity conditions within the private sector, as well as the historic dichotomy in equity market returns this year. Excess liquidity leftover from pandemic-era emergency operations continues to be drawn down at a record pace (our opinion)- with reverse repo markets shedding over $1T (trillion) in reserves over roughly six months' time. At such a pace, the excess from this "reserve fuel tank" will be drained in a matter of months, potentially forcing the Fed to pivot on policy and reverse current QT operations. The impact to risk markets, in our view, would likely be to keep the current basing/bottoming cycle intact- with neither a breakout toward new secular bull cycle, nor a breakdown toward structural (secular) bear. With 2024 being a U.S. presidential election year to boot, we fully expect the Fed to be forced into "accommodation" in some form or another- and this leads us to believe that alongside more potential volatility in stocks (corrective action), we are also likely to see strong liquidity-fueled rallies that push the S&P 500 north of 4600(2023 highs) toward its 2021 peak near 4800. Support on the SPX now sits just below4300, with longer-term trend line support still within 4000 - 4100- so our potential range heading into the New Year remains very wide at this stage. Thus, for 2024, think trader's market (again)... not trending market... at least that is what our optics are pointing toward as we head into year-end. What We Are Watching The S&P 500 kicks off 2023's official holiday shopping season inoverbought/extendedterritory on the charts. This suggests the index is still vulnerable to some profit-taking/consolidation ahead in our opinion- The SPX is now extended above its 30- (red), 50- (not shown), and 200-day (green) moving averages, which implies we may experience some mean reversion ahead in the form of consolidation. Traders can use initial support on the S&P this week within the 4515 - 4520 zone(closing basis), followed by the more important range of 4300 - 4400. Any profit-taking that maintains the index above these support levels keeps the short-term trend intact as bullish. 2023 highs just north of4600+still can act as initial resistance, followed by the 2021 secular peak within the low-4800 zone. -----------------------4,888-----------------------------------
I'm about to call Big Pete- Thinking of selling TTWO & Buying MASI stk of last week perking up now: Masimo Corporation (MASI) NasdaqGS - NasdaqGS Real Time Price. 95.74+1.67 (+1.78%) As of 01:36PM EST.
Update- It does not have House coverage. So MASI will not be pushed by analysts but I am going off my chart work I think it is a buy and I have just bought 200 shares. That's alot of dough. $96 dollar stk. MASI BOUGHT! /// TTWO WE HAVE A BIG GAIN /// I am thinking about $5 more is all she has.... I have it on a short leash for sell.
Where the heck is Van! I'm making all these big moves and looking like a superstar! Is he taking the week off?
MASI has a conference they speak at in 2 days I hope they get the word out about the new watch. An added kicker here is Apple was sued by MASI overseas and won. Apple is appealing but any delay in Apple O2 product monitoring will aid MASI watch sales. And there could be a big settlement coming from apple. A boy can dream.