Podcast EP 39 You're fired and you'll like it! (Aug 29)

Podcast Available onSpotify | Apple Podcast | Amazon MusicFollow on Substack NotesReferral Program for existing Subscribers* When you use the “Refer a friend” link below or the “Share” button on any post, you’ll get credit for any new subscribers. Here is the link you can copy and paste into any email, text or social media platform:“https://nyugrad.substack.com?r=1ec55c”* Once I launch a paywall, your referral credits earned will be retroactive immediatelyShow NotesWant to wish subscribers and anyone in west Florida the best with hurricane Idalia comingSummary of the dayJobs numbers were printed and revised worse than expected. Interpretation was “yay, Powell kept saying jobs market still too tight and wages sticky high. So bad jobs = more chance of easy money. Let's buy stocks!"Today was a very strong day and considered a potential follow through day. Usually need a broad participation of many individual shares. Not just 1 group or magnificent 7. But it doesn’t mean it is guaranteed. One thing we are critically missing is increase in volume. William O'Neil’s definition:A follow-through day occurs during a market correction when a major index closes significantly higher than the previous day, and in greater volume. It happens Day 4 or later of an attempted rally. Leading up to a follow-through day, an attempted rally takes place during a downtrend when a major index closes with a gain. The rally attempt continues intact as long as the index doesn't make a new low.Breadth* 162 new highs* 141 new lows* 77% advancing 18% declining* 56% below 50 day maStuck outThe 50 day ma backtest has happened across the board.Yields fell today. On Monday basic materials led. Today tech was strongAAPL, TSLA,  MSFT, AMZN,  META all under or kissing 50 dayGoog and NVDA only 2 of 7 aboveReminder this is end of month. Historically end of month has been strong as that is when statements are emailed. 3 day weekend, 4 day weekend for many. 5 day weekend for some. So expect low volume. StrongWeakYieldsVolatilityWhat to watchWatch mag 7 Watch yields Florida gulf coast hurricane Idalia Crypto (are animal spirits alive?)Economic datahttps://www.marketwatch.com/economy-politics/calendar  This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.notyouradvisor.com/subscribe