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VRA Letter: Big Week Ahead. 11/12 VRA Screens Bullish. Earth-Shattering Elections Throughout Europe. Global Red-Pilling. Commodity Shake-out.

Good Monday morning. Important week ahead, featuring:  Today: Apples Worldwide Developers Conference begins along with trading in Nvidia, post 10:1 stock split (the bears finally got an NVDA call right; it’s back to $100/sh) ...

Posted On June 10, 20246 MIN Read
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Good Monday morning. Important week ahead, featuring: 

Today: Apples Worldwide Developers Conference begins along with trading in Nvidia, post 10:1 stock split (the bears finally got an NVDA call right; it’s back to $100/sh)

Tuesday: Fed meeting begins with Wednesday rate decision & Powell presser

Thursday: Teslas annual shareholder meeting and Musk comp package vote

As we start the week, the VRA Investment System remains at 11/12 screens bullish (ATH). Notes; the markets internals have not been great of late. In addition, just 49.2% of the S&P 500 are above their 50 dma with 68.8% above the 200 dma. There are two ways of looking at these readings; either as a sign of internal weakness or as a sign of a broad market that is now light years from overbought levels. We continue to believe its the later, meaning that we’re simply going through another rotation/reset, AKA textbook (early) bull market action. "Buy the dip” will remain the smartest of smart money strategie...

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