In this short clip from Live Trading Room (07.17.24), I discuss recent significant shifts in market dynamics, specifically highlighting a rotation from growth to value stocks driven by small-cap rallies and hedge fund rebalancing pressures.
I note the strong performance of small caps and the resulting sell-off in major growth stocks due to hedge fund factor rotation, emphasizing my timely market calls and updates.
My note to EDGE/CLUB members:
– QQQ coming into my Friday lotto 179.19 now that 486.86 broke ;-)
– SPX 5575 is still my baseline bet: also said -2% is baseline bet so expecting 5505 by next week.
– NVDA already said short into "121 to start" with 116.60 key daily gap fill as next PT.
– SMCI formed bearish engulfing on wkly as did AMD #TSM formed evening star reversal on wkly with 172.21 PT
– ASML was fab short today given they had reason: big miss on earnings. Literally opened 978.58 and dropped to/thru 954.32 wkly support PT.
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