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VRA Letter: Stellar Internals Point to (much) Higher Prices. Bitcoin; Buy the Dip in Advance of $100K+. Gold Also Hits ATH; Massive Move Higher

Good Wednesday morning. VRA quick hitters this AM. 1) If a picture is worth a thousand words, check out yesterdays internals and see what it tells you...knowing that the Dow Jones fell 404 points (-1.04%) and Nasdaq dropped an ev ...

Posted On March 06, 20244 MIN Read
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Good Wednesday morning. VRA quick hitters this AM.

1) If a picture is worth a thousand words, check out yesterdays internals and see what it tells you...knowing that the Dow Jones fell 404 points (-1.04%) and Nasdaq dropped an even larger 267 points (-1.65%).

With declines this large, the internals should have been horrendous across the board, with readings of at least 3:1 negative. Instead, we had 303 stocks hit a new 52 week high to just 151 hitting new lows. In addition, NYSE and Nasdaq volume were only slightly negative and advance/decline just 1.5 to 1 negative. I’ve studied market internals for more than 3 decades and as the foundational strength and underlying price action of the broad markets, each day they telegraph strength/weakness. Know this; these are not the internals of a market that wants to go lower. Impressive buy signals for stocks continues. This market is headed much, much higher. 

Futures are solidly higher this AM.

2) Speaking of investments tha...

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