The Market is in "waiting" mode

May 13, 2024 - Update

Here is my weekly quick take on the markets.

The Nasdaq moved 1.14% higher on below-average volume so it is in “waiting mode” as this week we’ll get to know what the inflation registered in April, a number we know can move the market a lot right now.

The 10-year treasury yield barely moved at +0.09% for the week, again, a sign of “waiting mode”.

The Oil price has been trending lower in the last weeks.

Below is a chart of the inflation rate where you can see how it is moving sideways. The last print was 3.48%. Expectations are for a 3.5% print for April and the Inflation Nowcasting is predicting a 3.56% right now for May. Let’s see what happens.

Last, the Fear and Greed index is in Neutral territory too, again, suggesting a market that is in “waiting mode”.

PORTFOLIOS

Last week, I forgot to share how my “2024 Picks Portfolio” is doing so far: below is the answer.

7 stocks and no other actions are yielding so far 29%, almost 20% above the SP500! Yes, many months to go till Dec 24, yet a very promising result so far.

10X SMALL CAP MOMENTUM PORTFOLIO

My TGTX 0.00%↑ order was triggered. I have updated my Stop Loss levels. I am doing nothing else this week.

10X LARGE CAP MOMENTUM PORTFOLIO

My orders for FSLR 0.00%↑ and BABA 0.00%↑ were filled. I am now fully invested here. My Stop Loss levels are updated.

Here are some names for my watchlist:

That’s all for this week!
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Important: This is not investment advice. Consult a licensed financial advisor before making any investment decision.