Hello everyone,
I'm excited to share that February surpassed all expectations.
The current environment is supported by several vital macroeconomic fundamentals that have yet to be seen since the late 1990s.
I won't go into much detail in this email, but I will have a follow-up next week for all interested in the data.
Technology summary and a market brief:
Starmine Solutions and DeMark analytics are proving to be invaluable tools for my practice and the level of guidance I can provide for you.
According to DeMark (mean reversion software), several leading sectors are slightly overbought, such as technology, software, semiconductors, and industrials. So, we may see a reversal or slowdown in these areas.
On a bullish note, the same software indicated a qualified breakout in small caps (Russell 2000 growth index) for the first time in three years, which could lead to a welcomed rotation to a bull market. (this is a good thing; below is why)
The S&P 500 index could reach 5,500 by December 31st, 2024, a 7.1% growth as of March 1st, 2024.
The Russell 2000 Growth index could also hit 2300 by year-end, 17% from today at 2076.
It would also not shock me if we hit these predictions by late summer, with the Russell 2000 leading the market.
If you're interested in specific securities I'm looking at or want to know how much risk I think is warranted for your particular account, don't hesitate to get in touch with me.
In a nutshell, my opinion is:
Any dips in the stock market should be bought.
Next week, I will send the research data to support my theory.
Cheers,
Christopher R. Lakian
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