Kirk's Market Thoughts Message Board

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Non-Tech : Kirk's Market Thoughts

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Kirk ©

To: Kirk © who wrote (15072)	1/6/2023 11:19:49 AM
From: Return to Sender	1 Recommendation Read Replies (1) of 26438

I still don't see confirmation of a turn in the cycle to a new bull market. We have had some great days for the NYSE but nothing approaching an even 80% upside day on the Nasdaq. <SNIP from Briefing.com> Small and mid cap stocks outpace larger peers 06-Jan-23 11:00 ET Dow +519.63 at 33449.64, Nasdaq +152.11 at 10457.27, S&P +60.25 at 3868.35 [BRIEFING.COM] The S&P 500 broke meaningfully above the 3,850 level. All the main indices sit near their best levels of the sessions. The general vibe in the market is decidedly positive with advancing issues leading decliners by a 7-to-1 margin at the NYSE and a 5-to-2 margin at the Nasdaq. Small and mid cap stocks are faring better than their larger peers today. The Russell 2000 (+1.7%) and the S&P Mid Cap 400 (+1.9%) show bigger gains than the three major averages. The U.S. Dollar Index plunged after this morning's data releases, down 0.7% to 104.31. < Loads of puts bought recently by small investors. Those positions are going to expire worthless. Then we will see what happens. No doubt we are closer in time to a bottom every day but we have yet to see it. JMHO, RtS

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