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FUNDSTRAT:

“ $SPX and $QQQ have rallied sufficiently to think that a short-term low should be in place.

While this move might not prove to be a straight shot, higher prices are likely into May. SPX target on this move should materialize ~5400.”

$SPY $NDX $DIA Mark Newton CMT

$SPX or #GOLD ? Both have rallied, hard?

When both SPX and Gold have rallied 10%+ in prior 3 months, the answer is clear; buy stocks!

SPX positive majority of time across all forward time frames. Gold mostly lower across all forward time frames $SPY $GLD $QQQ $DIA Schaeffer's Investment Research

BofA:

Do you own semis? April is 2nd worst month of year for SOX returns but May is the 2nd best for returns. Get you some!

$SPX $QQQ $SMH $SOXX $SOXL $NVDA

Very rare $SPX to gain 25% or > in a 5-month period, but when it does, forward returns are typically very bullish

n = 7
3-month forward positivity = 100%
6-month forward positivity = 83%
12-month forward positivity =100%
Avg. 12-mnth = 19%

$SPY $QQQ $DIA $NDX $IVV

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There is only a 17% probability the March peak would prove the top for 2024.

Consequentially there is an 83% probability a higher-high will be found between March’s top and September 30, 2024.

I like the dip buying odds presented!

$SPX $SPY $QQQ $DIA

Nasdaq 100 is on a 4-week losing streak.

Nasdaq 100 has not expressed a 5-week losing streak since Sept-Oct 2022's bear market.

If the bulls are to make a stand, now would be the time.

The difference between buying-the-dip and fearfully avoiding the dip is the inevitable opportunity cost!

My pockets aren’t big enough to hold all the opportunity cost on any given year, so dip-buying is my default!

$SPX $SPY $QQQ $DIA

Just how oversold is S&P 500 $SPX

The 5-day RSI finished the week at it's lowest level in more than a year, even lower than the low from Oct. 2023.

Can it get worse, sure! But it usually doesn't.

$SPY $QQQ $DIA

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The Red, White & Blue land of opportunity!

Only 7% of Tech stocks were trading above their 50-DMA to end the week.

In bull markets, this is a fleeting opportunity as a bounce has proven imminently profitable.

$SPX $QQQ $SPY $XLK $AAPL $NDX

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#Run 392

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