I am going a tad out on a limb and taking what I think is a generally contrary opinion on the stock market. I see a lot of bears out here right now. I see a lot of stats that 10 years ago were useful when not everybody had them, now with AI everybody has those stats, as they circulate through social media.

The trick is to adapt to those stats becoming prolific and see what the market is telling us. Old idioms regarding markets, elections, and global events just can’t be taken at face value anymore. I have watching these cycles for decades.

So yes I am aware that 19 or the last 20 mid terms the market declined into the election. Also aware that doesn’t mean that will happen this time, or perhaps it’s already happened. By the latter I mean the SP 500 is only up because a handful of heavily weighted stocks are holding it up. The attached chart shows that only 20% of SP 500 stocks are above their own 50 day moving average. That is clearly a bearish environment for the majority of SP 500 stocks, and that environment is close to ending I think. TLT the long term bond ETF is acting bottomish. If rates have peaked and TLT rallies, stocks are going higher. To me that is a perfectly plausible scenario that no one is expecting. I am long RKLB, GOOG, IWM, TLT.  

Thanks,

Joe

Wall Street Is Furious After working for one of the biggest banks to make them a fortune, Joe walked away and used his method to help others beat the street and make money for themselves. If you want in on the action, click here