State Of The Market, 2 Weeks Into 2024

Today at a glance:

• Reviewing the top stocks in 2024

• Reviewing my trades so far

• What to expect going forwards

Let’s get into it:

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General Market Review

SPY

Impressive bounce back this week as we continue to consolidate under highs established in late 2021. What I’m interested in now is do we churn at highs or can we consolidate next couple of weeks and push out to ATHs.

QQQ

Amazing strength out of tech over past couple of weeks. Hard to not get bulled up as we close above highs established in late 2021. I have the same question here as I do with SPY — are we going to consolidate next couple of weeks and push higher or are we going to churn and find sellers? We’ll see.

IWM

One thing I will say though is that it’ll be tough to have a tradeable run at ATHs if the IWM doesn’t start seeing money flow in. Last two weeks’ volume ran high as we pull back from the $200 whole number… I’ve always made the best progress when this was the leading index/ETF, for what that’s worth 😉

Reviewing Trades So Far in 2024

I’ve made two trades so far this year. They are the following: