We made progress today !The markets shook off three bad indicators of growth and closed higher. To begin with After the market closed Apple announced a supply shortage that would result in lower sales. This is not ideal and we would expect other companies to have similar issues. Next the CPI data was released this morning. This showed inflation is still over 5% . Finally , In the afternoon a Fed Spokesman stated they may raise rate sooner. Actually they stated the may raise them this year! This is very different then the 2022 we have been repeatedly told. Despite all that news, Stocks rallied today and the inflationary sectors such as energy and financials actually went down. When bad news comes out and the market responds by going up, pay attention. You are getting a signal. I have seen this several times in my 20 plus years of trading. During the Iraqi war, We thought this would weigh heavily on the markets. Stocks were going down with every UN meeting as we prepared. So at the time we were short. That worked until it didn’t work and the market started digesting the news and going higher. On a smaller scale, we are seeing a similar pattern here. By identifying this pattern you can get ahead of others and have an edge. For myself I have a stronger buying bias than I had for the past three weeks after today. Key levels are on the charts. There are a couple new additions of stock ideas added over the past week.
Let’s look at our Indexes !
Let’s look at our Stocks!
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