The Dow Jones Industrial Average broke up to a new 52-week high this week, catching up to the Nasdaq, which hit a new high last week.
The question is now...when will the S&P 500 break through resistance?
The S&P 500 has been consolidating since Thanksgiving as energy stocks have been holding the index down. However, with the 10-year Treasury yield (TNX) continuing to fall and expectations shifting toward a potential rate cut from the Federal Reserve as early as March, we think there is plenty of room to the upside for the index.
Of course, this is all reliant on inflation continuing to moderate while the U.S. economy maintains its stability. But things are looking promising for a "soft landing."
In the video below, we walk you through what we are watching in the financial markets and how we plan to evaluate our opportunities moving forward in the Predictive Alpha Prime portfolio. (22:47 min. watch)
Each week, we will update you on our open trades, organized by their initial "target price" date.
To be clear, these trades are straight stock buys; we will not pursue any options trades in this service.
Predictive Alpha's unique A.I. system allows it to predict, with astonishing accuracy, where a security will move over the next month (or, to be more specific, the next 21 trading days).
Because this A.I. is so sensitive and updates its predictions every single day, a predicted target price may change from one day to the next.
We watch those changes carefully and will alert you when we think an exit is optimal.
The current one-month target price for DENN has dropped a bit since we entered the trade. It is normal to see this price shift from day to day as the market fluctuates.
The current one-month target price for FFIN has dropped a bit since we entered the trade. It is normal to see this price shift from day to day as the market fluctuates.
The current one-month target price for CWK has dropped a bit since we entered the trade. It is normal to see this price shift from day to day as the market fluctuates.
We thank you for being along for the ride at Predictive Alpha Prime.
We'll be back soon.
Sincerely,
John Jagerson & Wade Hansen Analysts, Predictive Alpha Prime
P.S. For any questions or concerns, reach out to or contact your Customer Concierge Team at 866-385-2076 or JohnandWade@tradesmith.com Monday through Friday, 9:00 a.m. to 5:00 p.m. ET. Our dedicated team will be glad to assist you.
TradeSmith is not registered as an investment adviser and operates under the publishers' exemption of the Investment Advisers Act of 1940. The investments and strategies discussed in TradeSmith's content do not constitute personalized investment advice. Any trading or investment decisions you take are in reliance on your own analysis and judgment and not in reliance on TradeSmith. There are risks inherent in investing and past investment performance is not indicative of future results.
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