Charles Green here, Senior Market Analyst here at Traders Agency.
Here’s today Market Pulse 360.
Market Pulse 360 for August 21, 2023
China and the rising 10-year Treasury rate are affecting the US stock market, again.
As I mentioned on a few occasions recently, a 10-year bond rate is kryptonite for stocks. The 10-year Treasury rate has broken through resistance (previous high last year) of 4.25% – a key psychological level.
And China woes have worsened thanks to bankruptcy filings by major Chinese real estate builders, prompting fears of a global contagion.
However, the US economy is strong with 3.5% unemployment and 3% GDP growth. It has endured 11 interest rate hikes over the past 15 months, demonstrating its underlying strength. And the stock market is up 30% this year even after the recent 10% correction – its best first-half of the year performance since 1983.
We’re in good shape, and we will overcome these short-term hiccups to move higher this year. Patience is warranted.
However, there are some great buys of leading stocks that have been punished during this recent correction over the past two weeks: NVDA, SMCI, AMD, META, NFLX, GOOG, MSFT, MDB, SWAV, AAPL, CAVA, ELF, ETSY, and others.
These are on sale now! NVDA reports earnings on Wednesday, which will certainly exceed expectations and provide impetus for the markets to move higher!
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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
