- Levels to watch: S&P 4400, QQQ 350, CORN 26.50, AMD 100, XME 60
- Expect more volatility.
- Mortgage rates broke a 40-year trend!
- Utilities are extremely strong right now & cannot be overlooked
- Commodities, our miners (XME), and precious metals are still strong
- Bonds are getting blasted.
- QQQ is starting to carve out a base but expect more volatility first.
- Bitcoin is right near $42,000. As we said, the volume profile is the key indicator.
- Remember, trading one asset class is trading blind.
- On a serious down day (>2%), we like:
- GSG, HYG at (5.5% yield), EWZ, QQQ, TGT, WMT, and Bitcoin
Our February chart is still important today
The relative rotation graph. Learn it.
Brazil has the potential for a long-term breakout. Commodity play
GSG: Vol fell off and it is looking tight. Bullish on this still.
Bitcoin @ $42,000
Return always wants its risk payment.
Related: Morgan Stanley’s Mike Wilson says S&P 500 could tumble toward 3,400 if a ‘true growth scare’ is on the cards
For entertainment only. Not Investment Advice.