Limited impact from JOLTs so far.
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Right now you cannot stop the bull. The only mistake to be made so far in 2024 has been to be stock-shy. January has been a month in which to verily Buy The Fedding Dip. That may change in an hour, a day, a week, but for now, up is the new up. Job openings came in ahead of expectations today at 10am Eastern; in 2022 that would have lead to plenty of selling as the read-across would have been, hot job market, labor rates up, inflation up, rates up. Today, more or less a nothingburger. The next pothole to navigate is FOMC tomorrow.
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OK. Now onto our usual charts. Paying members of Inner Circle, scroll down for our long- and short-term take on the S&P500, the Nasdaq-100, the Dow Jones 30 and the Russell 2000 - including the regular ETFs, the futures, the 3x leveraged ETFs and then finishing with a take on sector ETFs in semiconductor, tech, and the Fangs. Phew! Let’s go!
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