Charles Green here, Senior Market Analyst here at Traders Agency.
Here’s today Market Pulse 360.
Market Pulse 360 for July 5 2023
Despite all of the prognostications about the market going to new lows, the economy going into a deep recession, and that the housing market is going to crash, nothing could have been further from the truth!
Markets hit 52-week highs last week, breaking through many resistance levels, with some stocks now at all-time highs. We tested support at 13,500 on the NASDAQ, and now, we’re headed to 14,000 – and we will break through this resistance level very soon.
NASDAQ 14,000 will be a pit stop before markets power forward, albeit not without volatility, to all-time highs. The Fed is either done or nearly done raising interest rates with a 500% increase over the past year.
Moreover, inflation has fallen from a peak of 9.1% to nearly 4% in the past year; so we are not far away from 2% inflation, where the Fed wants inflation to be. If the Fed raises rates another .25% or .50% this year, the market will not be phased.
The bulk of these hikes (500% in the past year, the fastest in history) have already been priced-in the current market. Despite these 10 rate hikes in the past year, the market still managed to grind higher. Another 50% more will not stop the ascent of this market.
How far can the market ascend? We are at the beginning of a paradigm shift in the way we work, play, and live with acceleration in the adoption of artificial intelligence (AI), much like what we experienced with the advent of the Internet in the late-1990s.
The recent Q1 record earnings report of Nvidia ($8.29 billion), the leader in AI semiconductor chip technology, evidenced the acceleration of AI adoption. This quantum leap forward that AI will provide, combined with the decline in the relevance of the Fed over the next several months, provides the biggest market opportunity of a lifetime.
It’s not straight up from here. The Fed is still in play for now; and, there will be volatility as the market continues to grind higher. Not all stocks will participate in this historic move and positioning in the best opportunities now will be key.
But if you are in the right positions, you don’t have to be concerned about the daily noise in the market and volatility. Time is on your side!
Now is the time to be aggressive to accelerate your trading goals. Generational wealth can be created going forward, but the market is moving, and it does not wait for anyone!
Speed is the only limiting factor. Time is money – more than ever. The market opportunities that the Internet created a few decades ago were unimaginable and happened fast. You don’t want to look back years from now and regret that you did not maximize the seismic opportunities AI is creating now!
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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
