What is the market sentiment?
US is going to support Ukraine by sending them the Tomahawk cruise missile and Zelensky told staff working in Kremlin should know how to find the way to nearest air raid shelter.
In the stock market, what they are talking is about other issues, neglecting the chance of World War III is higher than before. Generally, experience traders are asking people to not guess the top, which means it will go up incessantly, therefore do not place short selling. The basic reason is bull long, bear short. People are digging out those celebrities like Alan Greenspan, former US Fed chair failed to guess the top of bull market. So, we should follow the upward trend to trade.
As for Fear & Greed Index, it is just 54 points now, in neutral zone, no need to afraid of great falling. Any adjustment will be considered as golden pit, precious chance to buy at low. People already said Magnificent Seven is not enough to represent the market, and wanted to increase to Magnificent Ten which will add PLTR, AVGO and the latest is ORCL. Some said Golden Dozen should include TSM and AMD. That is the market is furiously looking good. Simply because of another rate cut cycle started and will last for several years. Employment Report of coming Friday will show economy is still quite strong. The future is bright and brilliant, no symptom of turning back at this stage.
There is not any institution or university can fix a group of Magnificent 10 or X, or some even said the name should change to AI 10, which will be more appropriate. But before the pandemic, there was a group known as FANNG, which were Facebook, Amazon, Apple, Netflix and GOOG. It was invented by CNBC and later also changed to MAAMA because of the rise of MSFT, that was META. AMZN, AAPL, MSFT and Alphabet.
Do you still remember the international forum of G7? Once wished to increase to G8, G13, G14, and at length G20. Would Magnificent 7 increase to Magnificent 20?
Actually, market is led by sentiment, the Unemployment Rate of coming Friday is expected to keep unchanged at 4.3%. Is it good news or bad news? If it does not go up it is hard to make the Fed to have 50 points of rate cut. Non-Farm Payroll will increase from 22K to 50K. It is good news to economy but had news to rate cut. Just see what focus of market is.
Will AI make the unemployment rate increase? This is one of the focusses of the market, but it is still in a low level since the pandemic.
The AI is very easy to give forecast on the index or price of the next 5 or 10 years, but normally will increase gradually, they are unable to give warning of the time and level of turning back. Leave tomorrow for tomorrow and see how they fix the Magnificent 10, 12, 15, 20…… Tomorrow will talk about the Full Self Driving for a lot of AI chats are looking good upon the 10 years pay and performance scheme of Elon Musk & TSLA, basically they agree it is very hard to hit the target, but not impossible for Elon Musk. He is not a normal man but superman.
Why Elon Musk is going to launch out the FSD this week, for Baidu is having their road test of auto-rive in Hong Kong now since Sep 29.