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2023 May 2nd EST Memorandum

Disclaimer:

Nothing contained in the following content constitutes an offer, solicitation, or recommendation regarding any investment management product or service, or the offer to sell or the solicitation of an offer to buy any security; The following content is purely for information only and is based on information available at the time it was created. It does not take your financial situation or goals into consideration, and may not be suited for you.


Thoughts at the moment

Before we officially start running up to the third quarter of the year, we might still have one leg down.


QQQ reached 312 and canceled its downward momentum. However, considering sectors such as utilities, tech, materials, industrials, healthcare, finance, energy and commodities, the market breadth remains at 39% for the current cycle. This suggests the possibility of a short-term drop to clear out more investors. Signs of exhaustion on the minute and hourly charts reinforce this idea.


It’s hard to predict the market’s direction after the flush down. But after the last rug pull, the general medium-term and long-term momentum has regained positivity. This momentum could potentially carry us into the third quarter of this year on a monthly basis.

On a macroeconomic level, production data has stabilized, albeit with indications of a slight increase in production costs. Companies remain "somewhat" optimistic for the latter half of the year.


Note:

The introduction of new data may render the current model output obsolete as additional information becomes available.


Disclaimer:

Nothing contained in the proceeding content constitutes an offer, solicitation, or recommendation regarding any investment management product or service, or the offer to sell or the solicitation of an offer to buy any security; The above content is purely for information only and is based on information available at the time it was created. It does not take your financial situation or goals into consideration, and may not be suited for you.

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