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How to Protect your Wealth by Investing in AI Tech Stocks

S&P USD Correction

Stock-Markets / Stock Markets 2024 Jun 07, 2024 - 08:19 PM GMT

By: Nadeem_Walayat

Stock-Markets

The S&P trend tends to be inversely correlated to the USD trend as this inverted chart of the USD illustrates, where what the stock market seeks is either a dollar trending higher or a stable dollar within a range.


+

USD is targeting resistance at $107 that should contain it's rally that suggests whilst stocks are trending lower, that unless the USD breaks to a new high above $107 then most of the decline is behind the S&P i.e. a case of carving out a bottom whilst the USD carves out a top. The MACD also suggests that USD is going to find it sticky in the $105 to $107 range just as it did during last October. So we are seeing a normal correction in the stock market that was clearly in FOMO mode during March that finally snapped going into April.

So further dollar upside should be limited, i.e. looking at GBP at $1.234, I can see perhaps another cent lower to around $1.22, so an opportune time to exchange USD for GBP vs $1.29 where it was trading a few weeks ago.

This article is an excerpt of my recent extensive analysis - Stocks Correct into Bitcoin Happy Thanks Halving - Earnings Season Buying Opps which was first made available to patrons who support my work. So for immediate first access to ALL of my analysis and trend forecasts then do consider becoming a Patron by supporting my work for just $7 per month, lock it in now at $7 before next rises to $10 per month for new sign-ups. https://www.patreon.com/Nadeem_Walayat.

CONTENTS

S&P USD Correction
Stock Market Sentiment
Stock Market Trend Forecast 2024
Tesla Robo Taxis are Coming THIS YEAR!
How to Further Capitalise on Robots
AI Stocks Portfolio Accumulate and Distribute
Q1 Earnings Season
TSM - $127.EGF +4%, +30%, PE 24.3, PE Range 73%
TSLA - $147 - EGF -21%, +2%, P/E 47, PE Range -75%
RTX $102 - EGF +2%, +356%. PE 20
META $481 - EGF +24%, +39%, PE 30.9, PE Range 153%
IBM $181 - EGF +14%, +7%, PE 18.9, PE range 337%
Lam Research - $870, EGF +8%, +16%, PE 31.8, PE Range 173%
Google $156 - EGF +8%, +25%, PE 26.8, 89% of PE Range
INTEL $34, EGF R29%, R62%, PE 34.2, PE Range 1300%
Microsoft $399 - EGFs +4%, +12%, PE 36.1, PE Range 82%
KLAC $628 - EGFs -2%, +9%, PE 19, PE Range 164%.
WD $66, EGFs -83%, -154%, PE -11
AMAZON $175 - EGFs +30%, +68%, PE 62 , PE Range 69%
AMD $147 - EGFs +3%, +60%, PE 55, PE Range 95%
Bitcoin Happy Thanks Halving
Crypto's Exit Strategy

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CONTENTS
Stock Market Inverted Seasonal Trend
China NEW STOCKS BULL MARKET!
Hyper Sensitive Markets as AI Disrupts Everything, Including Itself!
Learn How to Accumulate and Distribute
Beat FOMO and FUD with EGF Direction of Travel
MEDIFAST - Disrupted by Weight Loss Drugs
Counting Down to Nvidia Earnings
AI Stocks Portfolio Spreadsheet
RECESSION 2026?
Stocks Portfolio For A Recession of Sorts
AI Will Make Everyone Poor!
SPECULATING!
The Future of Mankind - You are Being Sold a Lie!
Universal Basic Slave Income is Coming....
Fake Full Employment
Billionaire Nazis are in Charge!
How to Get Rich University
They Want Your House!
The Greatest Wealth Transfer IN History
UK House Prices
Bitcoin Preparing for Next Leg Higher
BTC Where Next?
Bull Market Tops

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Change the Way You THINK! How to Really Get RICH Guide 2023

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By Nadeem Walayat

http://www.marketoracle.co.uk

Copyright © 2005-2023 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 30 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis focuses on UK inflation, economy, interest rates and housing market. He is the author of five ebook's in the The Inflation Mega-Trend and Stocks Stealth Bull Market series that can be downloaded for Free.

Housing Markets Forecast 2014-2018The Stocks Stealth Bull Market 2013 and Beyond EbookThe Stocks Stealth Bull Market Update 2011 EbookThe Interest Rate Mega-Trend EbookThe Inflation Mega-trend Ebook

Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication that presents in-depth analysis from over 1000 experienced analysts on a range of views of the probable direction of the financial markets, thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


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