Marker Rotation Is In Full Gear -

Marker Rotation Is In Full Gear

Jul 28, 2024Jeremy ParkinsonFinance, No picture0

“I’d be a bum on the street with a tin cup, if the markets were always efficient.” Warren Buffett Market CommentaryDramatic change in leadership

Which are the sectors with the greatest number of new highs? It is now energy, banks, finance, medical, and insurance.

We saw more new 52- week highs, and the number of 52- week lows were even lower than last week. The advance/decline in the NYSE looks better than the Nasdaq.

We saw several “good earnings” releases where the stocks reversed lower. It is more important how a stock reacts than the bottom-line numbers. The market always looks forward.

We are seeing an increasing number of buyouts, especially in the biotech space. I have one that I am looking forward to hearing about.

Economic data and market clues: Earnings will dominate the market moves as we see several high profile releases.The market is begging for interest rates cuts and may be disappointed when Fed Chair Powell says they are still on hold. The data shows weakness and cracks under the headlines. The 1% is doing just fine, the rest are clearly cutting back. Selected current holdings:Magnet®:Generac GNRCTechnip FMC FTIHims & Hers Health HIMS FACTS:Amgen AMGNBlackrock BLKChubb CB For more information, contact us.More By This Author:Goldilocks May Have Made An Appearance To Ring The Bell At The Top
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