Podcast EP 48 The Death Star is almost complete (Sep 13)

I had an audio issue and the audio only goes to 5 min 46 sec. But it was the majority of the content. The only piece that got lost was picked up on the show notes below in the section “Stuck out”. One note I would like to add is that the indices are just as likely to go to new highs as new lows since its so heavily weighted to a few stocks. We are in the middle of a converging price zone and it seems the main event, as usual, will be the Fed Rate decision Wed Sep 20. That is when the Death Star will either zap the bulls or the bears.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 NotesSummary of the dayOn the surface this chart is the entire story for the year. The next chapter starts next week with rate decision and guidance Sep 20 at 2pm ET. As you can see in the chart, we can easily go up to new highs or crack the teal and or purple lines of support below. For the broader market we are still just stuck 3%-3.5% below this yr high on SPY and QQQQIntraday10:24am Still fighting this line1:37pm Complexion…risk is being sold while they prop the markets through Mag 7.86 new highs vs 238 new lowsBreadth and Breadth volume.Breadth* 95 new highs* 308 new lows* 36% advancing 58% declining* 71% below 50 day maStuck outJust some macro signs to be weary ofEcon sensitive stocks all rolling overIndustrial, construction, housing, housing related. ExamplesUnited RentalsParker HannifinBuilders First SourceRetail group is weakCA unemployment is picking up. Now 4.6%Auto loans outstanding 1.5 trillion, a recordAvg home is 3x salary during great depression vs today at 8XDebt to income ratio for home buyers hit 40%. 1st time in history. In 2008 it was 39%Breadth is horribleMegacaps are holding up the world again.Amazon new yearly highs todayAdobe reports thu.StrongAMZNWeakNFLXSGZGHOVEXTRROKUCVNADALCROXAFRMWhat to watchPPI ThuWatch the mag 7 Watch yields Economic datahttps://www.marketwatch.com/economy-politics/calendar Thanks for reading NYUGrad Stocks and Finance! Subscribe for free to receive new posts and support my work. 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