Transcript:
Tom Vaughan:
Everybody, welcome to Tuesday, the S&P 500 was up almost a quarter percent today, NASDAQ was up about 1%. Today, couple important things that happen number one, the s&p for example, opened up and then fell down, right to the top of the support level that I’ve been talking about, and then bounce back into positive territory. That’s a really good sign. We’ll see how that support level holds up. But we finally got down there. And then the other thing that’s really important today is just what the leadership was, if you look from, you know, the big upturn from the 16th of March to the 29th of March, the big day, we had on the 19th of April, big day that we had on the fourth of May, all the leaders were the same as essences to kind of the NASDAQ, the NASDAQ, 100, the tech stocks, the semiconductor stocks, etc. That really came out of that. And I hope that that happens to be the leadership that comes out of this, when we do start to recover.
We’ve been rebalancing back into some of those stocks, just kind of accumulating them on some of these dips. And so so far, that is still holding up as as a concept. I’m a big believer in having a concept that you work on until proven otherwise, as far as that goes. So the really the market seems to be waiting for tomorrow, when we get the CPI, the consumer price index number, this is not usually a big deal to the market, because you know, inflation was low for so long. But obviously, during this period of time, it’s really important. You know, in March, we saw an eight and a half percent inflation jump year over year, this, you know, reports going to come out, is it higher or lower? You know, what parts of the of the inflation are higher, what parts are lower, like, for example, in March gas was a big driver, yet used cars, and we’re still coming down, for example. So, you know, dissecting this report will be somewhat important. It is one of the main drivers for what the Federal Reserve’s going to do. And the Federal Reserve is really one of the main drivers for whether we end up in a recession or some type of soft landing, whether inflation continues and those types of things. So that’s something to focus on. I do think it’s an important report tomorrow, we’ll see how the market reacts to it. As far as that goes. So, anyway, that’s what’s going on so far today. I really looking forward to you know, dissecting that inflation report a little bit for you tomorrow, and we’ll see how the market reacts. See you then. Thank you.