GBA Presents: House of Gummy-!

stonedinvestor said:
For Immediate Release.
GBA Releases 2024 S&P Target:------>4,888. !!


<<<<<<<<<< 2024 Primer You Did Not Get This From Me>>>>>>>>>>>>>>>>>>

U.S. equity markets begin their last mile of 2023 in consolidation mode, as short-term technicals still show overbought/extended conditions in stocks against neutral(skewing bullish) investor sentiment and tightening liquidity conditions. While year-end seasonal bias can push stocks grudgingly higher into 12/29, the chasm between winners (Mag 7) and everything else (broader markets) remains wide, especially when adjusted for inflation (now running at just under 4% per year). We believe, therefore, that at some point in 1Q/2Q of the New Year, there will be another repricing that attempts to address underlying liquidity conditions within the private sector, as well as the historic dichotomy in equity market returns this year.

Excess liquidity leftover from pandemic-era emergency operations continues to be drawn down at a record pace (our opinion)- with reverse repo markets shedding over $1T (trillion) in reserves over roughly six months' time. At such a pace, the excess from this "reserve fuel tank" will be drained in a matter of months, potentially forcing the Fed to pivot on policy and reverse current QT operations. The impact to risk markets, in our view, would likely be to keep the current basing/bottoming cycle intact- with neither a breakout toward new secular bull cycle, nor a breakdown toward structural (secular) bear. With 2024 being a U.S. presidential election year to boot, we fully expect the Fed to be forced into "accommodation" in some form or another- and this leads us to believe that alongside more potential volatility in stocks (corrective action), we are also likely to see strong liquidity-fueled rallies that push the S&P 500 north of 4600(2023 highs) toward its 2021 peak near 4800. Support on the SPX now sits just below4300, with longer-term trend line support still within 4000 - 4100- so our potential range heading into the New Year remains very wide at this stage. Thus, for 2024, think trader's market (again)... not trending market... at least that is what our optics are pointing toward as we head into year-end.


What We Are Watching

The S&P 500 kicks off 2023's official holiday shopping season inoverbought/extendedterritory on the charts. This suggests the index is still vulnerable to some profit-taking/consolidation ahead in our opinion-

The SPX is now extended above its 30- (red), 50- (not shown), and 200-day (green) moving averages, which implies we may experience some mean reversion ahead in the form of consolidation. Traders can use initial support on the S&P this week within the 4515 - 4520 zone(closing basis), followed by the more important range of 4300 - 4400. Any profit-taking that maintains the index above these support levels keeps the short-term trend intact as bullish. 2023 highs just north of4600+still can act as initial resistance, followed by the 2021 secular peak within the low-4800 zone.

-----------------------4,888-----------------------------------
More...




VAN DO YOU AGREE-? // HAVE TO GET THIS IN BY end of Dec.
 
Goooood Morning, what does it take to be a stonedinvestor? Let me take you through the process.


->Elastic price target raised to $105 from $84 at Piper Sandler » 07:37 ESTC

Thought: Yea baby!

->Chewy price target lowered to $21 from $29 at Piper Sandler » 07:35 CHWY

Thought: This is really bad news for the economy. If Petco goes out of business and CHWY is crashing it means folks are paying less for their dogs lifestyle and that is the last expense most people cut back on.

->HUB Security, Blackswan collaborate on cyber enterprise solution for bank » 07:34 HUBC

Thought: HUB security has come up before want to research

-->Braze price target raised to $60 from $54 at BTIG » 07:31 BRZE

Thought: This is one of those companies that constantly goes up, constantly has great earnings I constantly don't buy it or know what they do. Is it the name?

-->Uber price target raised to $70 from $60 at BTIG » 07:30 UBER

Thought: I got a tip yesterday these guys were going to be added into the S&P500 at the close today....

Vertiv Holdings price target raised to $52 from $45 at TD Cowen » 07:19 VRT

Thought: Save attempt // lets see if it works.

DoubleVerify price target raised to $40 from $36 at Barclays » 05:56 DV

Thought: a stoney special that I let go for no good reason.

Datadog price target raised to $138 from $118 at Barclays » 05:56 DDOG

Thought: Why do I like saying datadog so much. Dig these guys.

Rolls-Royce upgraded to Outperform from Neutral at Oddo BHF » 05:36 RYCEY

Thought: I have stopped crowing about it but three threads ago I gave this out as my $1 special. Up 300%+

Constellation Brands upgraded to Conviction Buy from Buy at Goldman Sachs » 05:30 STZ

Thought: Thank bloody god! I bought this for my son it promptly went up $10 and then crashed. No idea why. Part of this diet drug fall out//

Torex Gold Resources reinstated with an Outperform at BMO Capital » 05:27 TORXF

Thought: Generally I have a " Rule of 3 " When I research... Torex now has two green lights if I could find one more reason and even if I don't I am going to buy this idea and put it away for a year. Anything now, an insider buy, or article...

Li Auto delivers 41,030 vehicles in November » 05:19 LI

Thought: of The Chinese 3 EV Co's, I really like LI and so does my son.

Lyft CEO: We have 45% more driver hours now vs. a year ago » 18:23 LYFT

Thought: Wouldn't that mean 45% more profit?
 
I have pitched the HF on one of next year's main themes-- FACE BEAUTY<----

2024 The Year of Makeup.(Tm GBA)

Ulta Beauty performance offers proof of category resilience, says Loop Capital » 07:54 ULTA
 
You must log in or register to reply here.
Back
Top