Sam Weiss

Markets have been overbought for most of the week and are gearing up for a near-term pull-back that should start sometime in the middle of next week.

Delayed reaction to the fed sets the market on a course to all-time highs. The NASDAQ-100 rally is now at $34. We should see a big pull-back at around $40+ point range that fills today’s gap-up.

With the markets having consolidated all week, it makes the near-term somewhat murky. Traders in the CME being split on the size of the rate-cut doesn’t help any. Still, markets are likely to pull-back either on the fed or shortly thereafter.

Yesterday’s pull-back was just a blip in the overall rally that began off the September 6 lows. At this point, we’re unlikely to see a near-term peak before the fed tomorrow.

As we head into the fed meeting on Wednesday, one thing to watch closely is how the markets deal with overbought conditions on the hourly.

Apple was a high beta stock until it reached a $3 trillion market cap on January 3, 2022. What lessons and investment strategies can be gleaned from a look at Apple in its post-$3 trillion era.

It’s no coincidence the S&P 500 has pushed all the way back up toward its all-time highs. The market is setting up for a huge move after the FOMC decision on interest rates. Chances are the next leg of the bull market will kick off on Wednesday.

The market has likely already bottomed on the CPI report. But with the Fed Pivot set to happen next week, will there be more selling ahead?

With Core CPI coming in marginally above expectations (0.1%), all hope for a 50-basis point cut at the September meeting has all but evaporated. But the market’s are still on track to bottom within the next week. Likely on or around Fed day next Wednesday.