March 21, 2024

Markets:

Stock futures climbed Thursday morning after the three major averages closed at new records and the Federal Reserve concluded its latest policy meeting.

Semiconductor stock Micron Technology jumped more than 16% in premarket trading on better-than-anticipated earnings. Discount retailer Five Below
slipped about 12% after posting disappointing quarterly results.

Those moves follow a winning day on Wall Street that sent the three major indexes to new closing highs. Both the Dow and Nasdaq Composite climbed more than 1%, while the S&P 500 added around 0.9% to close above 5,200 for the first time.

Those gains came as the Fed reiterated expectations for three cuts to interest rates this year. The central bank kept borrowing costs unchanged at its two-day March policy meeting, which concluded Wednesday.

Spot gold hit over $2,200 per ounce Thursday, notching a new high after the U.S. Federal Reserve reaffirmed plans for three rate cuts this year. And there’s more room for bullion to rally.

Portfolio:

We enter this glorious day holding set-ups in TSLL, SOUN, NVDL, IBIT, and PATH.  When we mentioned 5200 next hurdle and we expected to get there we received a number of emails thinking we were at a top and would fall back based on a few weak sessions. Completely understand this but I don't understand the doubt of what this market continues to build and provide folks. Turn on CNBC and every down day is met with doom and gloom talk.   OfCourse nothing will go straight up, expect down days and even weeks.  But the overall trend is clear and you can plan for that and continue to build.  Massive opportunity ahead.  Cannot stress this enough.  We just cleared a massive line for us technically and now we have air up top for a bit. Trade the trend. Life changing opportunities will be developing during this period over the next year. Early stages of what's happening and the dynamic shift taking place with regards to technology.   I truly feel sorry for people who continue to miss this but one day we will welcome the chasers that ill push everything even higher.  Be ready today!