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Time to Get Aggressive (Market Update from Charles Green)

Charles Green here, Senior Market Analyst here at Traders Agency.

Here’s today Market Pulse 360.

Market Pulse 360 for May 30, 2023

There have been 3 breakouts since October 2022.  Despite the naysayers gloom and doom forecast, the market continues to conquer one resistance level after another, despite the noise that prevails.

A new breakout is afoot. Next stop? The NASDAQ closed just below 13,000 on Friday and will breakout above this level with several new catalysts: 

  1. AI acceleration, which will change the way we work, live, and play; 
  2. Better than expected corporate earnings for many companies; and, 
  3. The hint of a pause by the Fed. Chairman Powell carefully crafted language at his last meeting, stating no new interest rate hikes “unless warranted,” which was a significant departure from previous language that there will be “some pain.”

We’re now headed to NASDAQ 14,000. The next Fed meeting on June 14th has become less significant, given the momentum of AI. This is the stronger driving force in the market with the Fed near the end of rate hikes. 

Positioning has become more urgent, and we are likely to have a small pullback as a result of the huge move in the market over the past week. This will be an opportunity to get more aggressive.

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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

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