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VRA Letter: Happy Birthday to Our New Bull Market. Year 2 Higher 100% of the Time. Banks Kicking Off Q3 with Big Beats. Precious Metals/Miners Jumping. Palantir up 182% in 2023.

Good Friday morning. One year ago today our equity markets had a top 3 capitulation event of my career, marking the end of the bear market (our 3rd in 5 years) and ultimately the birth of a new bull market. Happy Birthday Mr. Bull ...

Posted On October 13, 20235 MIN Read
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Good Friday morning. One year ago today our equity markets had a top 3 capitulation event of my career, marking the end of the bear market (our 3rd in 5 years) and ultimately the birth of a new bull market.

Happy Birthday Mr. Bull Market. Here’s what I wrote 1 year ago:

From our 10/14/22 VRA Letter

"This market needed one important event…it needed capitulation. Welcome to yesterday.

With a 1500 point reversal in the Dow Jones, following another disappointing CPI report, extreme fear just met capitulation. It’s highly likely that this classic looking capitulation will mark an important market low. 

As we’ve covered here often, 10 days ago the US dollar put in a bearish engulfing candle (topping signal).

Yesterday, the S&P 500 put in a “monster” bullish engulfing candle (below). Combined, these are high probability technical signals that point to the highs being in place for the dollar and the lows being in place for stocks.  

In another classic sign of extre...

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