ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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To: rimshot who wrote (77854)	3/26/2023 4:28:07 PM
From: Lee Lichterman III	2 Recommendations Read Replies (2) of 98154

BPOEX is stronger than BPSPX but that is a known since we already know the indexes have been being propped up by AAPL, MSFT, NVDA, GOOGLE and AMZN as I pointed out before. RSP/SPX does the same thing except it doesn't give you the overbought/oversold readings the BPcharts do. The disparity between big caps and rest of the market could be read either way by bulls and bears. Bears will point out Advance/decline is sick. Bulls will claim the banks are dragging the broader index down. I lean towards the market is sick however I'm looking for a short term bounce/squeeze because the put/call ratio is high and my system gave me a short term oversold reading Thursday. I plan on getting flat again Monday. Tech has been strong but FA says it should die eventually. Everything says semis should be weak. Computer sales are down, Xiaomi said phone sails are at 9 year lows (QCOM???), China/Russia sanctions, demand had been pulled forward Covid, personal savings dropping like a rock etc. AI may change the world but how is that going to increase profit short term? Ad revenue is just going to move possibly from one search engine to another? Breakthroughs in medicine will still have to go through 10 years of stage trials. News can fire their writers but then there'll be less people with money to spend. None of this raises earnings in the next year. Meanwhile, other income streams are dropping, loans are getting tight. VC capital is drying up. etc etc etc

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