• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Stock Ignore The Naysayers, This Market Is On FIRE!!!
Stock

Ignore The Naysayers, This Market Is On FIRE!!!

by March 17, 2024
by March 17, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Happy St. Patrick’s Day!

Last week was interesting for sure. Both February Core CPI (consumer price index) and February Core PPI (producer price index) came in above expectations. The headline PPI number doubled expectations. Despite that, the S&P 500 managed to close at an all-time high on Tuesday, the day the February CPI data was released.

This bull market remains extremely resilient and provides evidence of it nearly every day.

The vast majority of market analysts, in my opinion, expected that any weakness in the Magnificent 7 stocks would automatically be the end of this bull market. But they were wrong. NVIDIA Corp (NVDA) is the only stock in the Magnificent 7 that has gained any significant ground over the past month. The weakening price action for growth stocks is typical during the 2nd half of calendar quarters (except for Q4). Growth stocks tend to take a back seat to value, especially compared to what happens during the 1st half of calendar quarters as we work our way through earnings season.

Let’s look at the Magnificent 7 stocks to gain a better feel of what’s been transpiring there:

For each stock, the pink line represents price action, while the black line represents the 10-day rate of change (ROC). Over the past couple weeks, there’s been price deterioration in a few of these names, and especially on Tesla (TSLA), which has dropped a staggering 19% over this period.

The good news, however, is that during this more “risk off” kind of market, money is not leaving the stock market. Instead, it’s helping to fuel a HUGE rally in other areas of the stock market, mostly value-oriented areas. This represents widening participation in this secular bull market advance, a key ingredient of bull market sustainability.

Earlier today, I created what could become a regular YouTube weekend video, “EB Weekly Market Recap” (see below). If you listen to it, please provide some feedback – either directly to us at “support@earningsbeats.com” or below the YouTube video in the comments section. Thanks!

EB Weekly Market Recap Video

Happy trading!

Tom

You Might Also Like
  • Earnings From These 3 Stocks Could Be Key
  • Boeing Stock Takes Off: How to Profit From the Price Surge
  • You Need To Realize ONE Important Fact With Big Rallies Like This One
  • New Year Starts With a Bang as Leadership Areas Get Hit
Share
0
FacebookTwitterPinterestWhatsapp

previous post
Home buyers to be spared broker commissions up to 6% under Realtor group settlement
next post
Rates Look Set to Rise as TLT Resumes its Downtrend

You may also like

There is Less Junk Than There Used To Be

February 24, 2023

When to Buy in May

May 2, 2023

S&P 500 Under Pressure, Can Strong Seasonality Save It?

November 2, 2024

Key Levels for the FAANG Stocks

April 8, 2023

Microsoft (MSFT) Stock On the Verge of a Powerful Breakthrough

October 25, 2023

S&P 500 Sinks on Software and Semiconductor SELLOFF

May 30, 2024

The Hoax of Modern Finance – Part 9: Market Facts...

February 22, 2024

Crude Oil Reaches an Interesting Juncture

April 10, 2023

Thrilling Week for the Stock Market: Dow Jones Makes Strong...

May 17, 2024

Charting the S&P 1500 Zweig Breadth Thrust – And More…

November 18, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025
    • OpenAI to release web browser in challenge to Google Chrome

      July 10, 2025
    • Sports executive charged with bid-rigging in Texas arena project

      July 10, 2025

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 3,631 views
    • 2

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,919 views
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,607 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,577 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,451 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Popular Posts

    • 1

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 2

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 3

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • How to Find Compelling Charts in Every Sector

      July 10, 2025
    • White House accuses Powell of mismanaging Federal Reserve, citing headquarters...

      July 10, 2025
    • Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

      July 10, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,171)
    • Investing (538)
    • Stock (2,662)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    AMD’s Sensational Halt — What You...

    February 23, 2024

    What the Federal Reserve Doesn’t Do,...

    October 5, 2023

    The Best Five Sectors, #12

    March 24, 2025
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here