{"id":67465,"date":"2024-02-03T16:03:16","date_gmt":"2024-02-04T00:03:16","guid":{"rendered":"https:\/\/drduru.com\/onetwentytwo\/?p=67465"},"modified":"2024-02-04T11:54:07","modified_gmt":"2024-02-04T19:54:07","slug":"sharp-contrast-between-two-truths-of-stock-market-the-market-breadth","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2024\/02\/03\/sharp-contrast-between-two-truths-of-stock-market-the-market-breadth\/","title":{"rendered":"A Sharp Contrast Between Two Truths of the Stock Market – The Market Breadth"},"content":{"rendered":"\n

Stock Market Commentary<\/strong><\/h2>\n\n\n\n

Instead of climbing a wall of worry, the market is climbing a wall of frustration (I stole that from a friend of mine). No matter what economic indicators bears stare at to declare impending doom, the jobs market<\/a> just keeps coming in hot month-after-month. While a widening swath of stocks are breaking down, the big boys that really matter to the S&P 500 and the NASDAQ are delivering sufficient trappings of bullishness. In between, the ARK funds, which are card-carrying members of the speculation squad, are actually falling further and further behind in 2024. Market breadth continues to flag bearish conditions<\/a>, a concentrated set of bullish charts mock the traditionally bearish technical warnings. This complicated swirl of dynamics creates a sharp contrast between the two truths of the stock market<\/a>!<\/p>\n\n\n\n

In between consequential earnings reports, the Federal Reserve delivered<\/a> big fireworks for the week. Federal Reserve Chair Jerome Powell stood adamant and resolute in rejecting the financial market’s expectations for rate cuts as soon as March. The resulting disappointment caused a sharp and broad one-day sell-off in the middle of the week. The week closed with the damage intact for market breadth, but the sharp contrast from a few key stocks gave the appearance of a rapid washout of sellers.<\/p>\n\n\n\n

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