In this 347th edition of Turning Points a discussion of why today's move in the Nasdaq is not one to be ignored, along with analysis of additions to positions taken during the trading day and a new position to be taken at the open tomorrow.
It's important to listen to what the market is saying here while ignoring every other piece of seemingly critical information.
The critical pieces of information are primarily in the form of fundamental news flow that mostly paints a picture of severe doom and gloom in one form or another. Whether geopolitics based, recession based, inflation based or otherwise, there is no shortage of hooks to hang your hat on if you choose to be bearish right now.
However, what the market has been telling us for most of 2023 is in stark contrast to all the bearish narratives that exist. The confusion lies in the fact that, at least for now, the heavy lifting for the market has mostly been done by a select few mega-cap tech stocks.
This may be in the process of changing with today's breakout for the Nasdaq.
To view the entirety of this note, you can subscribe by clicking here.
Zenolytics Turning Points is 300+ editions in and only getting better. Find out why institutions and individual investors have come to depend on our service through each and every type of market environment. Click here for details.
Disclaimer
This website is for informational purposes only and does not constitute a complete description of our investment advisory services. No information contained on this website constitutes investment advice.
This website should not be considered a solicitation, offer or recommendation for the purchase or sale of any securities or other financial products and services discussed herein. Viewers of this website will not be considered clients of T11 Capital Management LLC just by virtue of access to this website.
T11 Capital Management LLC only conducts business in jurisdictions where licensed, registered, or where an applicable registration exemption or exclusion exists. Information contained herein is not intended for persons in any jurisdiction where such distribution or use would be contrary to the laws or regulations of that jurisdiction, or which would subject T11 Capital Management LLC to any unintended registration requirements. Visitors to this site should not construe any discussion or information contained herein as personalized advice from T11 Capital Management LLC. Visitors should discuss the personal applicability of the specific products, services, strategies, or issues posted herein with a professional advisor of his or her choosing.
Information throughout this site, whether stock quotes, charts, articles, or any other statement or statements regarding capital markets or other financial information, is obtained from sources which we, and our suppliers believe reliable, but we do not warrant or guarantee the timeliness or accuracy of this information. Neither our information providers nor we shall be liable for any errors or inaccuracies, regardless of cause, or the lack of timeliness of, or for any delay or interruption in, the transmission thereof to the user. With respect to information regarding financial performance, nothing on this website should be interpreted as a statement or implication that past results are an indication of future performance.
