Charles Green here, Senior Market Analyst here at Traders Agency.
Here’s today Market Pulse 360.
Market Pulse 360 for August 2, 2023
Fitch, a debt rating organization for bonds (debt), downgraded US debt this morning (from AAA to AA+, causing the 10-year bond rate to go over 4% this morning.
Just like individuals, when your credit score goes down, it has a negative impact on the interest rate you pay for debt. Fitch cites “the repeated debt-limit political standoffs and last-minute resolutions have eroded confidence in fiscal management.”
We are sitting at NASDAQ 14,000 and will likely hold here. This could slow the momentum built in the market, but it will not derail the uptrend. The market will continue to move up after it digests this news. It’s not good news, but there is no reason to panic. This is another buying opportunity for high quality stocks now at a discount today.
Patience is required. This will pass. This is not the first time US debt has been downgraded.
Keep in mind, there is no better place in the world for money to park than US bonds. We will have some volatility as a result of this news, but nothing has changed for the market direction and catalyst that will push the market up to all-time highs by the end of this year.
Just another speed bump.
Recommended Strategy
Alpha Stocks – When the market hits a minor speed bump on the way to the top, this is an opportunity to get in on leading stocks at a discount.
And later today at 7 p.m. Eastern, Ross Givens is going LIVE to show you how to use this strategy to exploit the market speed bump…
So click here now to save your seat for Ross’ live session…
And he’ll see you at 7 p.m. ET sharp.
A Bit More About Me
My specialty is understanding financial markets and the drivers that influence longer-term direction. I’ve been an active trader focusing primarily on stocks for over 20 years.
I’ve also:
- Been an adjunct finance professor for nearly 20 years
- Worked as a financial consultant with Merrill Lynch managing millions of dollars
- Earned a Master of Science Degree in International Business and Finance from Georgetown University and a Bachelor in Arts Degree in International Studies from George Mason University.
- Spent 14 years as a Marine (I enlisted at age 17) traveling all around the world
My education, work and life experience gives me a broad view of the world, financial markets, and life in general that informs my trading and investment decisions.
My passion is helping others to take advantage of the best market opportunities to achieve their financial goals.
This gives me the greatest satisfaction, and it’s the reason why I continue to teach in the classroom and outside of it today with every activity in which I engage. I believe that I succeed only if clients succeed.
I am a very unlikely success story. And this is only because I believe that anything is possible with the right knowledge, focus, and winning mentality! When you have that, success is just a matter of time.
Charles Green
Senior Market Analyst, Traders Agency
