As the world’s best investment manager and financial market journalist, I bring you the most recent insights from Fed Chairman Powell:
- Most Recent Labor Data Sends Signal of Cooling
- Labor Market Appears to Be Fully Back In Balance
- No Longer A Heated Economy
- ‘We Are Well Aware’ We Face Two-Sided Risks
“We have heard many discussions on whether small caps matter for the market.”
The chart above is clear. Do we care about the small caps? Is there a correction coming in large caps (NASDAQ)? Did Powell say anything, really?
As we all try to read between the lines, please have a look at where you might consider parking money right now.
ETF Summary
- SPY: 5400 support 5600 resistance
- Russell 2000 (IWM): 197-205 tightest range to watch
- Dow (DIA): 40k resistance
- Nasdaq (QQQ): Meager consolidation at the all-time high
- Regional banks (KRE): Watching the range 45-50 CAREFULLY
- Semiconductors (SMH): 260 -280 range
- Transportation (IYT): Not pretty under 64
- Biotechnology (IBB): 140 pivotal resistance
- Retail (XRT): 200 week moving average support at 72.75. Needs to recapture 74.50
- iShares iBoxx Hi Yd Cor Bond ETF (HYG): Pointing more risk on for now
Analysis: The labor data indicating a cooling economy may have implications for various sectors, as highlighted in the ETF summary above. Investors should pay close attention to the support and resistance levels mentioned to make informed decisions about where to allocate their funds in the current market environment. Stay tuned for more updates and insights from the world’s best investment manager and financial market journalist.