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VRA Letter: Stunning Growth from Megacap Tech Will Filter Throughout the US Economy. Semis Continue to Lead Higher. VRA Investing & Trading Points.

Good Monday morning. Last week marked gains in 13 of the last 14 weeks for our major indices with Fridays ramp high to ATH’s in the S&P 500 and Dow Jones fueled by a stronger than expected jobs report and massive beats ...

Posted On February 05, 20245 MIN Read
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Good Monday morning. Last week marked gains in 13 of the last 14 weeks for our major indices with Fridays ramp high to ATH’s in the S&P 500 and Dow Jones fueled by a stronger than expected jobs report and massive beats on earnings from tech giants Microsoft and Meta. Meta posted its largest-ever one-day jump of 20%, sending it’s market cap up $200 billion on a single day, also a record for all US co’s.

When companies with market caps over $1 trillion see their shares jump 8% (Microsoft) and 20% (Meta) on a single earnings report, you might just be in the Roaring 2020’s. We fully expect this growth to filter throughout the US economy in the months and years to come. 

As we start the week, our major indexes are trading at heavily overbought levels but with room to run before hitting extreme overbought levels. Last weeks shakeout, prior to MSFT and META earnings, relieved some of our overbought conditions. The VRA Investing System remains at 10/12 Screens Bullish, a green light ...

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