Shownotes Transcript
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Show Notes
Summary of the day
The title wasn’t a typo. Someone is withholding the truth.
- % of companies with strong/healthy Altman Z-scores (which combine account profitability, leverage, liquidity, solvency, activity ratios, etc. to measure bankruptcy risk) has dropped below 10% for first time on record per @fathommacro @lizannsonders.
https://twitter.com/LizAnnSonders/status/1732743034100428951)
Jobs data beat this morning. It was the Goldilocks print. Not too hot not too cold. Won’t trigger Powell to raise, yet Americans are still gainfully employed, is the deduction
Jobs data has been revised down almost every time this year after the fact!
Consumer credit has never been higher in the history of Homosapien
This has been the longest period of yield curve inversion in financial market history
$VIX is pricing in no landing
#Bitcoin $BTC is pricing in a useless faux currency
Magnificent 7 made up 80% of the S&P 500 YTD gains in 2023
all consumer stimulus programs are now past us
The last time Gross Federal Debt as Percent of Gross Domestic Product was at this level, World War II was ending and we went deep into debt to defeat the enemy.
2024 financial markets are 100% going to either move violently lower or higher. I don’t expect a tight range. The real world experience may also be very extreme. It is time to get our own houses in order and be strong mentally, spiritually, physically, & financially so that we can provide for our families.
Breadth
583 new highs
154 new lows
56% advancing 38% declining
24% below 50 day ma
41% below the 200 day ma
Stuck out
Stocks are on a 6 week win streak
SPY is 7 points away from lifetime highs, SPX 204 points away
Breadth is still strong to the positive
Strong
Energy, Tech and Financials lead
Weak
Gold
GDX down 2.11%
Yields week for the past month but trying to stop going down at 4.2%
What to watch
Watch yields
Watch Mag 7
Economic data
https://www.marketwatch.com/economy-politics/calendar)
Financial Freedom is not free, but the pursuit is worth the treasure.
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