Profit Taking Mode
Market leaders are fading a bit. And second tier stocks are getting the order flow. Doesn’t mean the bullish run is over. It means the stocks that carried the market higher the first half of 2023 need to reset for better risk/reward.
Capital seems to be moving into industrials, financials and certain groups in the energy sector.
Be on your toes the next couple of days.
Scanning the charts it’s looking like profit taking price action. Earnings season is soon so that will be the next reason for volatility.
Tesla Regains China Momentum as Clouds Over EV Sector Disperse
Tesla is regaining momentum in China as concerns over the electric vehicle sector are fading. The company’s sales in China have increased, and it is expanding its manufacturing capacity in the country. This comes after a period of challenges for Tesla in China, including negative media coverage and regulatory scrutiny.
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How the Fed and Investors Could All Be Wrong on Rates
Federal Reserve policy makers and investors aren’t always on the same page, but when it comes to their expectations of where rates will end up over the long haul, they agree: much lower than they are now.
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Airlines Struggled Ahead of July Fourth Weekend.
Their stocks didn’t.
Airline stocks are rising despite increasing disruptions in the industry. Factors such as strong demand, reduced competition, and government support are contributing to the stock market’s positive response. However, concerns about rising fuel costs and ongoing pandemic-related challenges remain.
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