Even an Inflation Uptick Can't Derail Traders' Bullishness
The Federal Reserve's preferred inflation indicator – the Personal Consumption Expenditures (PCE) Price Index – jumped this month, but Wall Street took it in stride.
Instead of panicking yesterday when the core PCE number showed inflation had increased by 0.4, traders doubled down on their bullishness and sent the S&P 500 higher to close at yet another all-time high.
This tells us that Wall Street has already accepted the fact that the Fed is going to leave rates higher for longer to ensure it truly gets inflation under control.
So where do we go from here?
Well... unless something dramatic surprises traders, we watch the stock market go higher.
In the video below, we walk you through the bullish case for the stock market and why we are so confident moving forward in the Predictive Alpha Prime portfolio. (13:18 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.
Target Price/Date: $164.43 (we set a GTC limit order to sell the stock at its target price on Feb. 8, 2024)
Current Return: 3.67%
The current one-month target price for JNJ 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.
John Jagerson & Wade Hansen Analysts, Predictive Alpha Prime
P.S. For any questions or concerns, check out your brand-new Frequently Asked Questions page, which you can access here. Otherwise, reach out to or contact your Customer Concierge Team at 866-385-2076, support@tradesmith.com for general questions, or JohnandWade@tradesmith.com for service-specific questions 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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