Charts and chatter rule this market
And...3 upcoming live education sessions, later this month!
Sungarden Live! 3 Upcoming Sessions.
It has been a little while since we held a live investment education session with our audience. So let’s get back to it! Here is a schedule of 3 live sessions and the main topics we plan to cover.
Each will start by answering any questions you send in advance, and end with answering any questions submitted/asked during the session. In between, we’ll cover one focus topic, and discuss the current market environment.
Just click on the link to sign up for to each one you plan to attend. These events are free for all ETFYourself.com and SungardenInvestment.com subscribers, but you do need to register in advance. See you on Zoom soon!
Date, time and Focus Topic
all times Eastern US click the topic to register
Monday July 15 at 2PM: Dividend stock Investing: the YARP way
Wednesday July 17 at 12PM: Using options to protect and grow
Tuesday July 30 at 4PM: Technical analysis - the market’s “story”
This week’s commentary
How many times do you think the Fed will raise rates this year?
Where will the S&P 500 be at year-end? You know, what’s your target price?
What stocks do you like right now?
What are the “best” investment to own right now? Not tomorrow, not next year, not for the next 12-36 months…I said now!
Which candidate is better for the market, and what will happen if they win?
Do you think Bitcoin will hit $100,000?
Will there be a Solana ETF?
What’s inflation going to be next month?
Is the unemployment rate overstated or understated?
That was to be my top 10 list of what I don’t care about as an investor
They do not matter to me. And I got to 9, could not think of another irrelevant question that only serves to take my focus away from what matters to my portfolio. Or, more accurately, I got bored with the whole exercise.
Maybe it is the mid-summer slumber, where “everyone’s away” and the markets just wait until late August and the Fed’s Jackson Hole summit. Or that earnings season is coming. Or that just as they say in the northeast, don’t wear white after Labor Day, maybe this is a case of don’t pay attention to the markets until after Labor Day. I don’t know. I just know that modern markets are so much more driven by chatter than they used to be. A lot of it is useless chatter, quickly forgotten with tomorrow’s headlines.
And that’s why I believe more than ever that the market’s story is told via the charts. Not any one particular chart, but a consensus and the trends I see in looking at many of them, every day, wherever I am. It is the lifeblood of my own investment work. Has been for decades.
Forget the chatter, what do the charts say?
See those 2 red arrows? They market the price of RSP, the equal weight S&P 500 ETF. The first arrow is at the end of 2021, and the second points to today’s close. Yeah, that’s zero in more than 2 1/2 years. I know, I know, how many ways can I show that to my audience?
I get it. The ladies and gentlemen on the TV and out to dinner Saturday night are all happy with their Nvidia, Apple and once again, Tesla. But this market’s “story” is still a failure to make sustained progress versus where things were quite a while ago.
So to me, this is still a market where ROAR (return opportunity and risk) favor controlling the latter, because the upside, while always there, comes with a bit too much baggage for me to be more than short-term excited (at best).
I go into more depth on this in the premium section below.