New Website & Member Dashboard Launched TODAY
Member Post Today. Plus some market thoughts & VIX levels.
This was not an easy project given front, back and middle were completely re-done!
Not to mention we changed designers and developers mid-way through.
And given past site was a spaghetti mess of legacy php programming.
Not to mention we migrated our CHASE features and members from Discord to Slack!
But ALL is NEW now and CENTRALIZED via our web-based Membership Dashboard for all services/members, AND via our web-based client Slack workspace for all Contributor analysis & trades!
Portfolios have a few glitches to work out, so a wee-bit more patience with those please this week.
I also have work to do on the PARTNERS/RESOURCES pages this weekend. I look forward to announcing these soon!
Oh, and I still have THREE fintech projects in development to be launched this summer, so we will add a PRODUCTS menu tab on website to house them once they launch.
And yes, I will have all new custom indicators, which will replace the ones currently in the member dashboard.
Getting there...
Quick Note On Markets
As I ran my trading room this morning - forgive the Charles Bronson's little sister impersonation - it was clear to all that NVDA and compatriots are still running the show!
As a result, I thought it made sense to review the "NVDA - AI Ecosystem" of stocks - further expanding on it this afternoon by posting under swing-ideas all those that touch this sector rotation play.
Daily I have highlighted my growth-to-value ratio (see below), which still shows a growth rotation past few weeks. No change yet, even if SPX hasn't moved back above my line-in-sand $5340 SPX.
The point I want to make is that this rally is DOMINATED by tech/growth stocks related to AI and little else in mid-cap tech is participating.
In fact, the rest of the market is really lagging. Here is last week’s performance by sector - via TheDailyShot
We know: "Markets can remain irrational longer than you can remain solvent."
And this market rally has been exceptional - traveling 319 trading days without a daily decline of 2% or more. (April 4th was -2.07% intraday).
Only 11 other times (since 1929) SPY went longer without a daily selloff of 2%.
Its most extreme stretch was 2003-2007, when stocks avoided a large drop for 900 sessions.
Not sure if SPX 5340 will prove mighty resistance, but I do know we NEED a macro trigger to disrupt the bullish flows.
Here is what we've got this week for macro, market-moving news of note:
Thursday is prelim GDP. That is usually dollar moving.
Friday's Personal Income, Personal Spending and PCE - Fed's favorite inflation measure. Expectations for the PCE are a 0.2% increase on core, down from 0.3% in the previous month.
Even though inflation numbers so far in 2024 have generally been hotter-than-expected, there are still disinflationary expectations out there as Fed rate cuts remain for 2024.
We will get a better picture come FOMC June 12th when Fed releases their SEP - expectation on cuts for 2024/2025.
Until then, VIX is at a 4 yr low. And market loves it!
My bet: VIX falls into 10.60 - not by FOMC June 12 or even June 21 OpEx - but into QRA June 30th.
Then we have a higher probability of a reversal higher in VIX and equity weakness.
Until then, make hay while the sun shines! And enjoy your shiny new company website and member dashboard!!