Transcript
Hello, everybody, welcome to Monday, the S&P 500 was up almost 1.3%. Today, a really good day even better, most of the things that our model did even better than that, and should have some really good returns for the day, very excited about that few things lower, but almost everything was green today, which is excellent. I read a lot of articles and out throughout this entire recovery, I can’t tell you how many negative articles I have read, I’d say it’s about 15 negative articles for every one positive that I can find. And so there was an article I was reading on Seeking Alpha, one of my favorite sites, listed some of the negative headlines from just this weekend. And I’ll read a few of these. And this is what’s been happening the entire time.
And, and I know you’re seeing this too, because once in a while you’re sending these to me, but yes, the crash is coming. Other one says four causes for the US stock market bubble, or be safe from the stock market crash with these undervalued stocks, stock pullback assessing the damage, beware the bubble, the S&P 500 is not diversified and quite risky. US stock market, it’s a bubble plain and simple. The stock market floodgates may have just opened, the House of Cards is ready to crash. The stock market has not been this overvalued in 40 years. The Nasdaq 100, a 75% Crash would surprise no one. That would surprise me. That’s a huge downturn. And actually, we’ve had a 75% run up so far. And the downturn so far from the top is only 9.9%. This is a normal motion for that kind of run up.
And you know, honestly, that title of article should be something like “The stock market pauses.” But that just doesn’t sell, you know, it doesn’t create enough interest and enough clicks, which is what this is all about. These types of things have been out there the entire time as we’ve been recovering. And you know, maybe some of your friends and relatives, you know, bought into that and got out of this thing before. And so it’s been great that everybody’s kind of hung in there. And I think that’s part of the situation here is that, you know, we’ve got to be able to fight these these negative pieces that come through.
I also spent some time looking at kind of what’s happening economically here in the US and internationally. And the economy is improving in several different areas. Got a long ways to go. But that’s what the market was seeing a while ago and is what it’s projecting to happen here in the future. And one thing that is happening technically is we’re kind of stuck between these support and resistance. We keep bouncing off the support, but we broke through one support earlier. And that’s now resistance. So we need to break through that resistance first and then break through the all time high and maybe we’d make another run. Long ways to go before that happens. But that’s what’s going on right now. So want to thank you very much for listening and I look forward to seeing what’s going to happen tomorrow. Thank you.