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| |  | | May 3, 2024 | | Alert Action to Take: Buy APP below $75 Dear Leah, Let me cut right to the chase here – we haven’t been this excited about the outlook for a powerful stock rally since the market bottomed in October 2023 and, before that, October 2022.
Our work strongly suggests that the current fundamental and technical conditions favor a major summer stock rally.
The Fed has reaffirmed its dovish stance, quelling the rate-hike fears that have stifled the market for the past several weeks.
Inflation has turned a corner. Consumer companies are signaling an overwhelming willingness to reduce prices, and commodity prices – like oil – are starting to roll over. That sets the stage for reinflation fears to turn back into disinflation hopes in May, June, and July.
Moreover, earnings are proving stronger than anyone expected, with most companies forecasting higher profits for the rest of the year, too. It’s likely that robust earnings estimates will power stocks higher throughout May, June, and July.
So, with the Fed staying dovish…. inflation resuming its decline… and earnings pushing higher… the primary trends underpinning the stock market are all turning positive.
Of course, as that happens, stocks should push higher.
That means that all the buying we’ve done over the past few months should start to pay off in spades over the next few weeks and months.
It also means we’re going to keep our foot on the gas pedal.
That’s why, this morning, we’re buying AppLovin (APP) stock. Read the Full Alert |  | | Luke Lango
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