To The Moon

Stock indexes on Friday settled mixed, with the Nasdaq 100 posting a new all-time high and the Dow Jones Industrials posting a 3-week low. When 4pm came around: Dow Jones: -0.20% (-86.06 TO 43,828.06). Slid for a 7th straight day, longest losing streak since 2020. For the week, the Dow posted a -1.8% decline. S&P 500: -0.00% (-0.16 TO 6,051.09). Ended Friday’s session little changed. Index posted 8 new 52-week highs and 15 new lows. For the week, it slid about -0.6%, effectively ending the 3-week winning streak. Since its inception in 1957, the S&P 500 has returned +10.23% a year on average. Nasdaq: +0.12% (+23.88 to 19,926.72). It recorded 75 new highs and 199 new lows. For the week, the tech index rose +0.3% during the period. Trading volume on US exchanges amounted to a thinning 12.56 billion shares. Compared with 14.03 billion averages for the full session over the last 20 trading days. $Broadcom(AVGO)$ - Friday Tech Hero. Technology sector rallied on Friday, led by strength in chip stocks, as Broadcom: Latest quarterly earnings powered up to $14.1 billion. It also surged more than +24% after predicting sales of its AI products will surge +65% in the fiscal first quarter. Broadcom reached a market cap of $1 trillion, rallying more than +24% after posting fiscal Q4 adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared +220% for the year. Looking at AVGO past month performance (see above), do you think the 12 Dec 2024 spike ‘growth’ will persists or is it only a short-term euphoria ? Overall thots: it is evident that AI take up is firming. It will be a long term play as adoptions broaden and permeates across sectors / industries gradually. Week’s Economic Reports. As the Fed’s FOMC convenes over Dec 17-18, economic reports continued its planned release: Mon, 16 Dec 2024 - S&P flash US services & manufacturing PMI. Tue, 17 Dec 2024 - US retail sales for November 2024. Wed, 18 Dec 2024 - FOMC interest rate decision & press conference. Thu, 19 Dec 2024 - US weekly jobless claims. Thu, 19 Dec 2024 - US GDP Q3 2024 2nd revision (finalized). Fri, 20 Dec 2024 - US November 2024 personal consumption expenditure (PCE). None of the reports before 19 December have a significant influence over the Fed’s interest cut decision. Friday’s PCE report should influence overall market sentiments and on the run up to Christmas week. CME FedWatch Tool: As of 16 Dec 2024, Wall Street is still 96% confident that the Fed will proceed with a final -0.25% interest cut to end off the year. Coming Week. According to Piper Sandler: Stocks may be due for more upside in the coming weeks. Approaching mid-December, Equity markets remain constructive within their primary uptrends into year-end, said Chief market technician, Craig Johnson. He predicted a year-end S&P 500 target of 6,100. Based on Friday’s closing, its only 49 points short. His year-end 2025 target for the broad market index is 6,600. Naysayer Cautions. There are warnings fired off too. Fairlead Strategies, Founder & Technical strategist, Katie Stockton has cautioned: She’s expecting a strong finish to the year, 2024. A likely correction, coming in Q1 2025. US market Intermediate term momentum is still (very) strongly positive, with fresh breakouts from some large-cap names. Those breakouts can contribute to a little upside follow-through before a corrective phase in the first quarter Her advice — Keep eye out on sell signals. Perhaps hold off on new purchases, except wherethere are those breakouts or some kind of near-term catalyst to take advantage of. Definitely great to have some cash to put to work when that first correction arrives. Are you facing a ‘dilemma’ (like me), wondering if taking profit is the best approach or take a risk on reacting to possible market correction, with the hope securing higher returns, in exchange? Must Read: Click on below titles to access. Repost to share, Like as encouragement ok. Thanks. BBAI the next PLTR ? Buy ? Read & Know ! With CPI & PPI Out, Where is RIOT Heading ? SpaceX news sends DXYZ soaring to $185 ? Do you think Broadcom will continue to power higher and break thru resistant price of $231.96 ? Do you think it is better to take profit while still ahead OR just risk it for even higher returns? If you find this post interesting, give it wings! ️ Repost and share the insights ? Do consider “Follow me” and get firsthand read of my daily new post. Thank you. @Daily_Discussion @TigerPM @TigerStars @Tiger_SG @TigerEvents