July 2, 2023
Wave 2 re establishes the positive mood of the previous five wave rally. The move down of wave one is forgotten, consider
Apple is now the first trillion dollar company
htThe first ever IPO for artwork has been announced
The most expensive home ever in the USA is pricedat $ 250 M.
AI now takes its place along side RCA 1929, IBM 1966, dot.coms 2000 and the Apple I Phone now in its 14th iteration.
The NYSE A/D line lifted again but momentum is not as strong as at the February top
Apple is on a parabolic rise.
As noted in our column Thursday, Nvidia has a price earnings ratio around 220, and announced problems with chip export limitations, it may have peaked.
Junk bonds have rallied with the spx but again wave two lacks momentum as it should.
The two year note is on the rise, again.
Looks like themarkets are topping in Wave 2, lower prices expected for fall.
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