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Show Notes
Summary of the day and week
I believe we just witnessed a Fed Pivot. By the Treasury (Janet Yellen) selling more front end short term debt, and the govt and fed buying it, it increases demand and price. Thus decreasing rates. That news came out Wed but this bounce began Monday so I suspect that too was leaked. Go look at $GS stock price action on Monday Oct 30th. Check out the outperformance vs SPY. Coincidence I am sure.
12:50pm last yr we had two 5-6% bounces in a down trend. Could be something. Could be nothing…
12:41pm Santa is getting ready
* AAPL NVDA MSFT META all above their 50 day ma.
* 10 yr 4.5%
* 195 new highs vs 82 new lows
12:21pm the summary of the week in one photo
8:38am Stock futures add 100 points after soft jobs report sends yields lower. ‘people are less prosperous as we hoped, thus we can maybe stop hiking’
Sick world huh.
PS we went from oversold to overbought this week
Breadth
* 233 new highs
* 102 new lows
* 81% advancing 15% declining
* 53% below 50 day ma
* 64% below the 200 day ma
Stuck out
Yields decreased 50 basis points
Strong
anything that was weak. Ie housing. Roku, afrm etc
Weak
volatility
What to watch
Watch mag 7
Watch yields
Economic data
https://www.marketwatch.com/economy-politics/calendar
Financial Freedom is not free, but the pursuit is worth the treasure.
