Bits n’ pieces

November 30, 20231 Comment

Here are a few bits n’ pieces of news to feed your investment mind.

Heads up: TA Course discount coupon available tomorrow

Tomorrows blog will contain a special coupon that is valid only for the month of December. The blog will also offer a gift certificate available for purchase for the TA course at the reduced rate. Talk about a highly unique Christmas gift idea!

Also – the new VT Update was sent out today. If you don’t already subscribe, you  should. It offers a summary of the information we send to our clients, including a few of our actual trades. You wont get that on the blog. Subscribe here. 

Look out below?

Rosenberg Research has a proprietary model for estimating fair vs. actual value on the markets. You can see by their chart below that the valuation gap is even larger than it was before the 2000 crash. As a Technical Analyst, I pay more attention to price pattern than fundamentals. That’s because, in the end, the market will move prices where it wants. Despite the fundamentals. So I’ll trade the trend until it ends.

This chart does add a bit more evidence to my “Prolonged Sideways Market” theory that I have been harping on since early 2022. Price is the test. If the SPX breaks through 4800 decisively in the coming months, the bull is still with us.

Rosenberg’s chart does provide another reason for a break through 4800 not happening. We shall see.

Canadian banks

I did a comprehensive video on the Canadian banks recently. In it, I broke the charts down on each bank. If you look at a Canadian bank ETF, most look like the dog’s breakfast.  But a couple of the banks actually have some potential. ValueTrend is currently trading one. Click here to check it out: Are Canadian Bank Stocks a Good Buy Right Now? – ValueTrend

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