We’re looking at a low-key bull market in some mega-cap tech stocks that’s a little bit erratic and throwing people off… And I think things could start coming back down to earth as early as next week.
So let’s take a look at some big macro trends so I can explain…
The BIG deal to me right now is the rate on the 10-year Treasury… which had completely collapsed on the prospect of inflation coming down and the Federal Reserve being done with the heavy lifting as far as more rate hikes.
But…
There’s something people who think the Fed is done don’t realize, and that’s when things start getting “better” and bubbles start to form again in risk assets like Bitcoin… inflation will come back.
You’re never really “done” with inflation this quickly.
We saw the 10-year bottom out, and now it’s up a full 20 basis points as the market has been low-key bid.
Now take a look at the Nasdaq…
All of this creates a vicious cycle, and if you’ve been hiding out in the Nasdaq and tech stocks, I expect those to come back down as rates head higher — so take heed.
One last, quick thing to consider before we call it a weekend is oil prices…
Take a look at oil. The Saudis surprised everyone — everyone but me, if you’ve been following along — by announcing oil production cuts.
As you can in the chart, oil has completely filled the gap and then some from where it fell from in early March. Now we’re consolidating and breaking higher from this mini-range we’ve been in since basically mid-December.
And I think oil is poised to break higher. Meanwhile, the dollar has been weak, which is bull juice for commodities.
If you’ve been following along, then you know I love Occidental Petroleum (NYSE: OXY) in this space, and it looks to me like it’s consolidating and ready to go even higher.
Jeff Zananiri
Jeff Zananiri Trading
*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk.
P.S. $1K VIP Discount Expires Soon — Don’t Miss Out on 156 Trades Per Year
First, the bad news…
At midnight tonight, Lance Ippolito’s team is taking down his crazy $1,000 VIP discount.
That doesn’t mean the price “goes up.” It means the offer is off the table completely.
That’s why I’m emailing you this early Friday evening.
Because if you want access to Wiretap Alerts, PLUS the other bonuses he has for you inside their members’ area…
Like the…
- Options Pro Crash Course.
- Access to ALL Accelerator Classes.
- Live Trading Sessions.
- And the 156 Wiretap Trade Alerts per year.
That VIP Offer is at a massive discount… 👀
Considering how well this service has performed… I’ll be shocked if they discount it like that again.
That said, you still have a little time left before midnight hits…
But hurry, Lance’s team is pulling it off the table in a few hours.
Hope You Take Advantage!
