Happy Sunday! Hope everyone’s having a good weekend. We’ll get into some market thoughts, dive into some tech action/news this week, then get into NFLX and TSLA earnings previews.
Bigger Picture - Where do we stand as indexes breakout to all time highs?
The title says it all, doesn’t it? Last week we shifted into a neutral short-term posture while remaining bullish medium/longer term, thinking we would get some short-term choppiness given 1) divergence in tech stocks as growth stocks were rolling over; 2) stocks sitting at highs looked like they might be wanting to take a breather.
Well, we got a little bit of short-term weakness in the first two days of the week, but it didn’t last long at all: the QQQs couldn’t even sell off 2%! The lack of downside and the move on Thursday and Friday - both in indexes and individual stocks - shows that this market is anxious to go up.
There are usually tea leaves in the price action of individual names that give us insight into which way the marke…
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