Happy New Year! May your year be filled with health, prosperity and your dreams come true!

Here is a quick recap of Markets for the Week of January 5th, 2024 and what we are watching this week 👨‍🏫

The stock market registered losses following nine-straight weeks of gains to close out 2023. Profit-taking activity in the mega cap stocks, and a couple of other stocks that outperformed last year, contributed to the downbeat price action.

Rising rates also contributed to the negative bias this week after the 10-yr yield reclaim 4%.

Earnings season will decide if this is a healthy pull back or something greater.

Here are the key points from last week:

• US 10-yr yield back over 4% - The price action in Treasuries was partially due to a recalibration of rate-cut expectations after the Minutes from the December 12-13 FOMC meeting were less dovish than hoped.

• December Jobs Report - The US economy added 216,000 jobs in the month of December, which was well above the 170,000 estimate. For all 2023, employers added 2.7 million jobs, a slowdown from the 4.8 million added in 2022 but still above the years preceding the pandemic. The unemployment rate dropped to 3.7% vs the 3.8% expected. Average hourly earnings rose 0.4% on a monthly basis and 4.1% on an annual basis, which were both higher than expectations.

• Geopolitical worries - intensified in the Red Sea after Iran sent a warship there in response to the U.S. destroying three Houthi boats.

• Apple - was a standout loser, dropping nearly 6.0%, after two analyst downgrades and news that the DOJ is getting close to filing an antitrust case against Apple, according to The New York Times.

$SPY:  S&P 500 after 9 consecutive weekly gains finally cooled off last week and pulled back some closing Friday at 468 support.

Is this a normal healthy pull back or the start of something bigger?

$QQQ:  Mega cap tech has been much weaker to start the year pulling back -4% from its highs right before New Years Day. It closed Friday trying to hold 396 support for any meaningful bounce Bulls need to reclaim 406 failure to due so and we’ll see another leg down.

I do a weekly Markets analysis every Monday during “Office Hours” 8:30pm EST via zoom for the Ceni Capital Community I will be speaking about the inflation data this week, what to look for in earnings season and the stocks I am watching this week.

If you are interested in making your money work for you by getting our swing trade alerts ahead of time, reply back or comment “Swing Trade alerts” below for more information.

$SQQQ: As the Qs pulled back 4% to start the year we played calls for +129% gain .

$TGTX: our swing trade tagged it’s second price target at $19.50 for +52% return on our money from our $12.82 entry back on November 22nd. It's still looks strong so we raise our stop and continue to ride the momentum upward.

Learn to make your money work for you, rather than you chasing it. 

Watchlist 👨‍🏫

$RXRX: Biotech’s started the year strong as money shifted into the sector. RXRX has caught the attention of investors as Cathie Woods has been buying. Chart held up pretty well as markets were weak last week so let’s see if there’s continuation and this move is just getting started.

$HIMS:  a telehealth consultation platform had a nice breakout but sold off to close the week on Eli Lilly news. It has been consolidating in a tight range since November if it can break over and hold above $9.50 it will start a run towards $12 and $15.

✈ $BA: Boeing had some negative news late Friday after a piece of an Alaskan Airlines plane flew off mid flight; luckily no one was hurt. The FAA ordered immediate grounding of certain Boeing 737 Max 9 jets over the weekend which will most likely have a negative affect on its stock.

If you are interested in getting our swing trade alerts ahead of time, reply back or comment “Swing Trades” below for more information.

What are you looking to do different this year that will change where you are a year from now? Enough with the “New Year, New Me” boring lie. Sit down and actually put things into action to make sure you are moving forward.

Need help where to start?

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See you next week! 👋