Weekend feb 3 2023
checkout https://layoffs.fyi/ for a look at the thousands of lay offs in the tech sector. That coupled with the worst car sales in a decade and slowing real estate sales is a harbinger of the slow down to come.
DJIAn Transports have held up th best. We have had a rally in these two since October. this is a weekly chart for persepctive on the entire decline and counter trend bounce.
In the same time frame the NASD, COMPQ here, and the NASD 100, NDX, fell much further but have rallied much stroner since October.
SPX is in between the two
All five should be ending now, the DJIA topped Dec 13 while the NASD has owered on for another two months. The turndown Friday likely is the end of this rally.
TLT an ETF of 20 year T Bonds
Note how stocks and bonds have fallen and risen together, pretty well shaking faith in the 60 stocks 40 bonds portfolio idea.
Elon Musk via TSLA
bull markets have larger than life heroes, Ross Perot in the 1960s comes to mind. Elon Musk is the latest wonder boy. Tesla is still worth more than Toyota or GM but has not rewarded its shareholders this past year. It too has had a terrific rally. The foray into Twitter was as the movie title had it, a bridge too far.
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