Here are my most recent overall thoughts:
We are exercising caution as the growth stocks and SPY are in warning phases, well below their July calendar ranges and with momentum showing some mean reversion but not enough momentum to get me to put clients in new positions
Could that change?
Yes, but I’d rather wait for that to change and meanwhile consider the relative strength in the metal miners and oil right now.
Also, long bonds TLT are signaling trouble ahead with risk off
As the market finds some footing we see rotation back into growth stocks.
While the market sorts out the true value of equities going forward considering these variables
- future earnings
- rising costs
- Geopolitics
- FED rate cut and by how much,
We are focused on commodities for investors looking to enter low risk, high return potential right now.
And to hear more about all of this and more…
It’s a bit of a rough cut, but our dear friend and former anchor of the Daily Briefing on Real Vision, the amazing Maggie Lake, sat with me for a wonderful sit down.
We cover
- Risk factors-bonds, gold, recession or stagflation
- Outliers-Oil, gas, copper
- Emerging Markets Brazil China Vietnam
- Bitcoin-and related technology
- Megatrends-2 hot ones to watch for 2025
Here is the link:
Furthermore, here is a short segment with Angela Miles from Business First AM that sums it all up quickly.
Right now, the NASDAQ chart shows the lack of clarity.
While the move off the lows is impressive, QQQ needs to clear the 50-DMA and the July 6-month calendar range low.
The performance versus the SPY has improved, while the Momentum at this point, also needs to prove more.
Twitter: @marketminute
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not represent the views or opinions of any other person or entity.
