To The Moon

Markets standing tall

The markets have held up pretty well going into March and this is where I have to add that the markets that are doing well are doing so on narrow leadership. 

The magnificent seven have been pulling the markets along as they ploughed through the bears. However, they have all been taking turns to fall back. Tesla was first and not surprisingly so being more of an EV story and much more affected by high rates. Then Apple and Google were next both not making new highs. Microsoft followed thereafter just recently which leaves only Nvidia, Meta and Amazon to hold the fort.

Now that everyones' technicals seem to paint a complete pattern upon a five wave pattern, it seems only a matter of time before they pull back. So as much as the bulls would like the party to carry on, I believe that is a rather tall order with the technicals looking pretty stretched. Sentiments being pretty bullish are not helping the contrarians either. 

As such, I believe a pull back is imminent. I am expecting the market to correct on a multi month scale which will create good opportunities to buy excellent companies at better prices. 

Disclaimer: Please kindly do your own due diligence as this is a sharing article and in no means financial advise. I am just sharing my opinions and thoughts.

Thanks for reading my commentary. Hope it helps!

Stay safe! 😊

$Semiconductor Bull 3X Shares(SOXL)$  

$Nasdaq100 Bull 3X ETF(TQQQ)$  

$NVIDIA Corp(NVDA)$  

$Advanced Micro Devices(AMD)$  

$Tesla Motors(TSLA)$