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November 2024

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Tech Stocks Plunge: What This Means for Investors

5 Mins Read

“The economy is not sending any signals that we need to be in a hurry to lower rates.” These words from Chairman Powell impacted the stock market much more than this week’s inflation data.

The stock market started selling off on Thursday afternoon and continued to do so Friday, with the broader stock market indexes closing lower. The Dow Jones Industrial Average ($INDU) closed down by 0.70%, the S&P 500 lower by 1.32%, and the Nasdaq Composite ($COMPQ) lower by 2.2%.

It’s also options expiration Friday, which generally means increased volatility. The Cboe Volatility Index ($VIX) gained 12.79% on Friday, closing at 16.14. That’s a big jump from earlier in the week.

Nasdaq’s Fierce Selloff

The Nasdaq experienced the biggest drop of the three indexes. The chip makers got smoked. Applied Materials (AMAT), the largest US chipmaker, was down 8.76% on a disappointing revenue forecast. Nvidia (NVDA) was down over 3%, Micron Technology (MU) was down almost 3%, and Intel (INTC) fell 1.70%.

The daily chart of the VanEck Vectors Semiconductor ETF (SMH) gives a clear picture of the semiconductor industry.

FIGURE 1. DAILY CHART OF THE VANECK VECTORS SEMICONDUCTOR ETF (SMH). The sharp selloff in semiconductor stocks resulted in a technical weakness in the chart of SMH. It’s close to a support level, while its SCTR score, MACD, and relative strength with respect to the S&P 500 weaken.Chart source: StockChartsACP. For educational purposes.

Although SMH is still within the sideways range (grey rectangle), it’s very close to the bottom of the range, which aligns with the 200-day simple moving average (SMA). The StockCharts Technical Rank (SCTR) score is at a low 29, the moving average convergence/divergence (MACD) indicates a lack of momentum, and SMH is not outperforming the S&P 500 like it once did.

Looks like investors are rotating away from semiconductors, either taking profits or investing in other asset classes — but which ones? It’s certainly not healthcare stocks, which also got pounded on Friday. Perhaps cryptocurrencies. However, there’s more brewing beneath the surface.

The Yield Rally

The economy is still strong—retail sales data shows that consumers continue to spend, which is pushing Treasury yields higher. The 10-year US Treasury Yield Index ($TNX) closed at 4.43% (see daily chart below). TNX has been trending higher since mid-September and since the end of September has been trading above its 20-day SMA.

FIGURE 2. DAILY CHART OF THE 10-YEAR US TREASURY YIELD. Treasury yields have been on a relentless yield since September. A stronger US economy would keep yields higher.Chart source: StockChartsACP. For educational purposes.

Fed Chairman Powell and Boston Fed President Susan Collins’ comments lowered the probability of a 25-basis-point interest rate cut in the December FOMC meeting. According to the CME FedWatch Tool, the probability is now 58.2%. It was close to 70% on Thursday, before Powell’s speech.

The relentless yield rally may have been one reason the Tech sector sold off. Higher yields don’t benefit growth stocks.

Dollar’s Roaring Rally

One asset class that is gaining ground is the US dollar. When the words “Dollar sets 52-week high” appear in my predefined alerts dashboard panel, it’s something to analyze. The US dollar ($USD) has been in a relatively steep rally since October (see chart below). With a strong US economy and the Fed indicating a more neutral stance in their policy decisions, the dollar could continue to strengthen.

FIGURE 3. DAILY CHART OF THE US DOLLAR. The dollar has been in a roaring rally since October. A strong US economy supports a strong dollar.Chart source: StockChartsACP. For educational purposes.

At the Close

With the exception of the Dow, the other broader indexes have fallen to the lows of November 6, the day after the US presidential election. The broad-based selloff could continue into early next week. There’s not much economic data for next week, but Nvidia will announce earnings after the close on Wednesday. That should shake up the chip stocks.

If you have cash on the sidelines, there could be some “buy the dip” opportunities. However, because there are some dynamics between stocks, yields, and the US dollar, the three charts should be monitored to identify signs of a reversal. When you’re confident of a reversal, jump on board.

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End-of-Week Wrap-Up

  • S&P 500 down 2.08% for the week, at 5870.62, Dow Jones Industrial Average down 1.24% for the week at 43,444.99; Nasdaq Composite down 3.15% for the week at 18,680.12
  • $VIX up 8.03%% for the week, closing at 16.14
  • Best performing sector for the week: Financials
  • Worst performing sector for the week: Health Care
  • Top 5 Large Cap SCTR stocks: Applovin Corp. (APP); Palantir Technologies (PLTR); Summit Therapeutics (SMMT); MicroStrategy Inc. (MSTR); Redditt Inc. (RDDT)

On the Radar Next Week

  • October Housing Starts
  • November Michigan Consumer Sentiment
  • Fed speeches
  • Nvidia earnings

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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In World news

Eight killed and 17 injured in mass stabbing in eastern China

2 Mins Read

Eight people were killed and 17 others injured in a stabbing attack on a college campus in eastern China on Saturday, police said — the latest in a recent spate of attacks that has shaken a nation long used to low rates of violent crime.

The attack took place around 6:30 p.m at the Wuxi Vocational Institute of Arts and Technology in the city of Yixing, according to a police statement. A suspect was detained at the scene, it said.

The statement said the suspect was a recent graduate who was motivated by “failing (an) exam, not receiving a graduation certificate, and dissatisfaction with internship compensation.” An investigation is ongoing.

The attack is the latest mass casualty incident to hit China — a country of 1.4 billion that has one of the lowest rates of violent crime in the world, partly due to its strict gun controls and powerful mass surveillance.

Last Monday, 35 people were killed after a car plowed into people who were exercising in the southern city of Zhuhai in the country’s deadliest known attack on the public in a decade. Around 40 others were injured.

As news of that attack spread, censors swooped in to take down online videos of the attack and moderate social media discussions

In October, police arrested a 50-year-old man after a stabbing attack near an elementary school in Beijing injured five people, including three children.

In September, three people were killed and 15 others injured in a knife attack at a suburban supermarket in Shanghai.

Also in September, a bus crashed into a crowd of students and parents outside a school in Tai’an city in Shandong province, killing 11 people and injuring 13 others. Chinese authorities did not reveal whether that incident was accidental or deliberate.

This story has been updated with additional infomation.

This post appeared first on cnn.com

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Trump’s tariff threats send U.S. companies scrambling for lobbyists and loopholes

4 Mins Read

In the days since President-elect Donald Trump won the presidential race, Nicole Bivens Collinson’s phone has barely stopped ringing.

Collinson, who helps lead the international trade and government relations division at the lobbying firm Sandler, Travis & Rosenberg, said she is fielding “dozens and dozens and dozens” of calls from anxious U.S. companies looking to protect themselves from Trump’s hardline tariff plans by finding loopholes and exemptions.

“Absolutely everyone is calling,” Collinson told CNBC. “It is nonstop.”

Over the course of the 2024 campaign, Trump made universal tariffs a core tenet of his economic platform, floating a 20% tax on all imports from all countries with a specifically harsh 60% rate for Chinese goods.

That hyper-protectionist trade approach sent chills up the spines of economists, Wall Street analysts and industry leaders who warned that across-the-board tariffs could make production — and in turn, consumer prices — more expensive, just as they were recovering from pandemic-era inflation spikes.

“The threat of tariffs has alarmed retailers and a wide range of other U.S. businesses,” David French, senior vice president of government relations at the National Retail Federation, told CNBC. “Our members have been working on contingency plans since President Trump secured the nomination.”

Ron Sorini, a principal at the lobbying firm Sorini, Samet & Associates, echoed that sentiment, noting that he takes at least two to three calls a day to field companies’ concerns about the proposed tariff ramp-up, especially in China.

″[Companies] question where they should go, and how do they get the components out [of China]? How do they get the whole supply chain out?” Sorini said.

When Trump unleashed his first set of China tariffs in 2018, securing an exemption became a golden ticket in corporate America, a way to safeguard a company’s China-based supply chains rather than paying the hefty price of relocation.

And to obtain that golden ticket, it paid to know the right people.

A 2021 research study found that applications for Trump’s first-term tariff exemptions were more likely to be approved when they came from lobbying firms whose employees had made political contributions to the Republican Party.

Now, with Trump set to retake the White House in a matter of weeks, tariff escalation is becoming a more likely reality.

And in corporate America, the race is on to find the right lobbyists to help companies rub shoulders with the right people, to give them an advantage in securing tariff loopholes.

“Firms are prepared,” SUNY Buffalo finance professor Veljko Fotak, one of the authors of the 2021 study, told CNBC. “The real winners of this process are going to be the lawyers and lobbyists.”

What tariffs will look like in the next Trump administration, and whether exemptions will be available at all, are both unknown.

“Until that clarity comes, businesses will have to plan for a variety of scenarios,” Tiffany Smith, vice president of global trade policy at the National Foreign Trade Council, told CNBC.

In response to CNBC’s request for comment about the Trump team’s plan for exemptions and companies’ concerns of the tariff proposals, Trump transition team spokeswoman Karoline Leavitt doubled down on the president-elect’s campaign promises.

“The American people re-elected President Trump by a resounding margin giving him a mandate to implement the promises he made on the campaign trail. He will deliver,” Leavitt told CNBC in a statement.

In the meantime, companies have been trying to set up defenses against Trump’s more aggressive trade approach. These include stockpiling goods in the short run, readying price hikes so they can pass the cost of import duties on to customers, and trying to move their production out of China.

On Thursday, Steve Madden pledged to reduce its Chinese imports by 45% over the next year in anticipation of Trump’s tariff plans.

But exiting China is a significant undertaking for many U.S. companies, especially small businesses that may not have the buying clout or leverage to move production so easily.

“What I would urge is that folks look at the impact on small businesses. Those are the people that are really getting hurt. There’s got to be some way to help companies like that,” Sorini of Sorini, Samet & Associates told CNBC. “Because they really can’t do it on their own.”

This post appeared first on NBC NEWS

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Are the Magnificent 7 Still the Kings of Wall Street?

5 Mins Read

There’s no denying the strength that the mega-cap growth names have exerted on the equity markets in 2024. With their outsized weight in the major equity averages, and their strong performance into November 2024, the Magnificent 7 stocks in many ways reflect the investor optimism that has been much of the story of this bull market. But with these leading growth names rotating lower this week, pushing the Nasdaq 100 down 3.4% and the S&P 500 down 2.1% through Friday’s close, we need to reconsider the sustainability of the uptrend phase through year-end 2024.

To examine more effectively, we can easily group the eight stocks, which I call the “Magnificent 7 and Friends”, into three distinct buckets. Let’s review the technical configurations for these stocks, and focus on what levels could help us confirm a new market trend.

The Breakout Names, Featuring NVDA

Three of these eight leading growth names have already broken to a new all-time high in Q4, and, while Netflix, Inc. (NFLX) and Amazon.com, Inc. (AMZN) both deserve our attention, I think the chart of NVIDIA Corp. (NVDA) perhaps best illustrates what we’re seeing with these top performers.

These three are in confirmed uptrends, as defined by Charles Dow’s original definition of higher highs and higher lows. So the analysis here is simple: as long as that uptrend persists, the charts are in good shape. For NVDA, that means a “line in the sand” around $132, which lines up with late October swing low as well as the 50-day moving average.

During an uptrend phase, stocks will often pull back to an ascending 50-day or 10-week moving average. So, if charts like Nvidia are able to hold this key short-term trend barometer, then the uptrend remains in place. However, if these first three stocks fail to hold expected support, that could provide a key market tell as the “generals” would show signs of weakness.

The Consolidating Charts, Featuring AAPL

Three of the eight charts on this list are testing short-term resistance levels, with Meta Platforms, Inc. (META) testing the $600 level as a prime example. But we’ll focus today on Apple, Inc. (AAPL), which has spent the last four months failing to breakout above its July high around $237.

Quite simply, the chart of AAPL is at best “neutral” until and unless it can demonstrate a confirmed break above the July peak. On top of that, we can see the RSI has failed to push above the 60 level on short-term rallies. In fact, with the RSI basically rangebound between 40 and 60, this stock represents an absence of momentum and an equilibrium of buyers and sellers.

For charts like these, I’m reminded of Jesse Livermore’s famous quote, “There is time to go long, time to go short, and time to go fishing.” When the chart is not providing a clear signal to the upside or downside, it’s usually best to find opportunities elsewhere. But if three of these stocks are failing to break to new highs, that suggests limited upside for the S&P 500 and Nasdaq 100.

The Wild Cards, Featuring MSFT

Now the final two charts are sort of in an “other” bucket, with Tesla Inc. (TSLA) a notable outlier with its exceptionally strong upside rally post-elections, and then an equally dramatic decline over the last week. But I think Microsoft Corp. (MSFT) provides a more compelling technical configuration, given that it’s one of the only growth names on this list that is actively testing price support.

If you connect a trendline from the July peak to the September high, you’ll see that MSFT had a failed breakout above that trendline in late October, and then again earlier this week. In bullish market phases, charts like this usually follow through on breakouts. But when clear technical breakouts don’t see enough follow-through, that can often be an indication of a wider risk aversion and lack of willing buyers.

With Microsoft in particular, it’s all about the $406 level, which represents a 38.2% retracement of the 2023-24 uptrend phase. There have been numerous tests of this support level over the last three months, and a break below this level could indicate a larger theme of distribution in the equity markets. Bear phases are always marked by stocks being unable to hold key price support!

For a deeper dive into these three charts, along with the rest of the Magnificent 7 and Friends, head on over to my YouTube channel!

RR#6,

Dave

P.S. Ready to upgrade your investment process? Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

The author does not have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.

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In World news

Israel’s war conduct in Gaza ‘consistent with the characteristics of genocide,’ UN Special Committee finds

3 Mins Read

Israel’s war conduct in Gaza “is consistent with the characteristics of genocide,” including mass civilian casualties and using starvation as a weapon, according to a new United Nations Special Committee report released Thursday.

“Through its siege over Gaza, obstruction of humanitarian aid, alongside targeted attacks and killing of civilians and aid workers, despite repeated UN appeals, binding orders from the International Court of Justice and resolutions of the Security Council, Israel is intentionally causing death, starvation and serious injury, using starvation as a method of war and inflicting collective punishment on the Palestinian population,” the UN committee said in a press release.

“The Israeli military’s use of AI-assisted targeting, with minimal human oversight, combined with heavy bombs, underscores Israel’s disregard of its obligation to distinguish between civilians and combatants and take adequate safeguards to prevent civilian deaths,” the committee said.

The UN committee added that Israeli officials have publicly supported policies to destroy “vital water, sanitation and food systems” in Gaza as well as prevent access to fuel.

Israel earlier this year rejected what it called the “grossly distorted” accusation of genocide leveled against it by South Africa, arguing in the UN’s International Court of Justice (ICJ) that its war was fought in self-defense and that it was targeting Hamas rather than Palestinians, following the Hamas-led October 7, 2023, terror attacks in Israel.

The UN Special Committee is composed of three UN member states, including Malaysia, Senegal and Sri Lanka.

The UN report comes after the US-based advocacy group Human Rights Watch (HRW) released a report detailing Israel’s forced mass displacement of Palestinians in Gaza in a deliberate and systematic campaign that amounts to a war crime and a crime against humanity.

In a response to the HRW report on Thursday, the Israeli military said it is “committed to international law and operates accordingly,” and that it issues evacuation orders to protect civilians from combat.

Palestinians fleeing northern Gaza after weeks of intense Israeli military operations in recent weeks have told described a chronic lack of food and people dying of hunger, as aid agencies warn that the area is on the brink of famine.

But after a US deadline for Israel to improve getting humanitarian aid into Gaza expired this week, the Biden administration assessed that Israel is not blocking aid and so is not violating US law governing foreign military assistance. The State Department said that while changes were needed, progress had been made, so there would be no disruption to US arms supplies.

But the US view is a stark contrast with the bleak picture on the ground, where much of the aid that reaches Gaza is not being distributed.

The accounts of desperate civilians echo the World Health Organization’s warning last Friday of “a strong likelihood that famine is imminent in areas within the northern Gaza Strip.”

This post appeared first on cnn.com

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Elon Musk is $70 billion richer since Trump victory due to Tesla stock surge

5 Mins Read

Elon Musk spent $44 billion to buy Twitter, now known as X, and at least $130 million to help get Donald Trump elected president.

It’s a combination that’s paid off handsomely. Since Trump’s victory last week, Musk is about $70 billion richer on paper.

Most of Musk’s wealth is wrapped up in his holdings of Tesla, and in the four trading days since the election, the electric vehicle maker’s stock has soared by about 39%. That’s lifted the company’s market cap well past $1 trillion.

Musk’s net worth has swelled to $320 billion, according to Forbes, putting him close to $90 billion ahead of Oracle founder Larry Ellison, the world’s second-richest person. Ellison, a close friend of Musk’s and a former Tesla board member, is a longtime Republican donor who’s seen his own Trump bump, with Oracle’s 10% increase lifting his net worth by about $20 billion.

For Musk, getting Trump back into the White House became another full-time job. He funded a swing-state operation to register right-leaning voters, and he led rallies as a surrogate for his favored candidate. He started $1 million giveaways to registered voters who signed one of his America PAC petitions, and he faced a lawsuit over running an illegal lottery in Pennsylvania.

Musk also used X, the social media platform he acquired in 2022, to constantly tout his support for Trump while frequently spreading misinformation about his opponent, Vice President Kamala Harris, as well as topics like immigration and voter fraud.

Now, Musk is trying to make sure he cashes in on his investments.

After the election last week, Musk briefly joined Trump’s phone call with Ukrainian President Volodymyr Zelenskyy, NBC News reported. Other outlets, including The New York Times and ABC, have reported that Musk has been weighing in on staffing decisions for the next administration, and he’s spent a lot of time since the election at Trump’s Mar-a-Lago resort in Florida. Brendan Carr, who is likely to be Trump’s choice to run the Federal Communications Commission, is seen as a longstanding Musk ally.

Musk ran a straw poll on X for his 200-million plus followers asking who should be Senate majority leader, and he’s personally endorsed Florida Republican Sen. Rick Scott for the position. He also reposted a comment from Trump about the need for the majority leader to support recess appointments for his nominees so they don’t need Senate confirmation.

“Without recess appointments, it will take two years or more to confirm the new administration!” Musk wrote.

Musk has long sought to reduce regulatory authority so that he can eliminate impediments to his sprawling business empire, which includes Tesla and X, as well as defense contractor SpaceX, artificial intelligence startup xAI, brain computer interface company Neuralink and tunneling venture Boring Co.

Those companies are currently embroiled in a range of probes and lawsuits from federal agencies pertaining to matters including alleged securities law violations, workplace safety, labor and civil rights violations, violations of federal environmental laws, consumer fraud and vehicle safety defects.

Given the executive branch’s outsized control over federal regulatory bodies, Musk can look forward to regulators and intelligence agencies winding down some or all of the 19 known ongoing federal investigations and lawsuits against Tesla, SpaceX and X.

“He’s got the golden touch right now and has the ear,” said Deepwater Asset Management’s Gene Munster, a longtime Tesla bull, in an interview with CNBC on Wednesday.

In addition to Tesla, SpaceX is also a “clear beneficiary” of a Trump presidency, Munster said. He added that xAI could be rewarded as the new administration considers AI regulations.

“I’m stretched to try to find out how this could play out negative for Elon,” Munster said.

Musk didn’t immediately respond to a request for comment.

Musk owns 411.06 million Tesla shares, as of the latest filings, and about 304 million performance-based options. In January, Judge Kathaleen McCormick of the Delaware Chancery Court voided Musk’s historic pay package from 2018 that included the options, calling it “unfathomable” in part because Musk controlled the board. Shareholders then voted in June to retroactively ratify the package. McCormick has said a final ruling on whether to restore Musk’s compensation will come soon.Musk and Ellison aren’t the only two billionaire tech executives to see a post-election windfall.

Coinbase CEO Brian Armstrong has added about $4.5 billion to his net worth since Trump’s victory. Coinbase shares soared 20% on Monday, bringing their gains since Tuesday to 67%.

The crypto exchange was a major contributor to pro-crypto candidates up and down the ballot, largely through a PAC called Fairshake. Most of its preferred candidates were victorious, setting the stage for the likelihood of a more favorable regulatory environment for the industry.

That’s a win for Tesla as well. At the end of the third quarter, the company reported “digital assets” with a fair value of $729 million. Cryptocurrencies have rallied since the election, with bitcoin jumping about 29% to a record of over $88,000 on Monday.

This post appeared first on NBC NEWS

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This Industry Just Broke Out And Is Poised To Lead U.S. Equities Higher

3 Mins Read

Now that Q4 historical bullishness has kicked in, it’s time to allow the bears to go into hibernation, while the bulls search for key leadership to drive prices higher. Before I highlight a key industry group that just moved into all-time high territory, it’s important to understand the history of the stock market and which groups tend to carry the S&P 500 higher. In other words, since the S&P 500’s 2013 breakout above the 2000 and 2007 highs, which groups have led this secular bull market advance? Well, here you go. These are the 12 best-performing industry groups since April 2013 (as you check these out, keep in mind that the S&P 500 has gained 266% over the same period):

  1. Semiconductors ($DJUSSC): +1488%
  2. Computer Hardware ($DJUSCR): +1019%
  3. Software ($DJUSSW): +774%
  4. Specialty Finance ($DJUSSP): +709%
  5. Internet ($DJUSNS): +683%
  6. Broadliine Retailers ($DJUSRB): +653%
  7. Automobiles ($DJUSAU): +480%
  8. Home Construction ($DJUSHB): +459%
  9. Insurance Brokers ($DJUSIB): +434%
  10. Home Improvement ($DJUSHI): +424%
  11. Hotels ($DJUSLG): +419%
  12. Consumer Finance ($DJUSSF): +416%

This isn’t opinion. This isn’t a list based on current technical conditions or my favorite groups. This list is HISTORICAL FACT. These are the “risk on” groups that have led this bull market. If you’re still clinging to the hopes of a secular, or even cyclical, bear market right now, I think you need to leave personal biases at the door and look at this market objectively. All-time highs nearly always beget more all-time highs. In my lifetime, I’ve only seen TWO all-time highs that marked major tops – one in 1973 and the other in year 2000. Constantly searching for that major top is what leads to significant underperformance. Personally, I believe the next major top (leading to a secular bear market) is most likely a decade away. We’ll all find out together.

So I’m in a position believing that stock prices are going to go higher. I’m also of the belief that many of the same leaders shown above in the Top 12 groups since 2013 are going to lead the next leg higher in this secular bull market. Therefore, I’m paying particularly close attention to these charts……and one of them just broke out and started to lead on a relative basis during the past week.

Enter Software:

The absolute price breakout has already occurred. Now I’m waiting to see the relative breakout on the DJUSSW. Once that happens, I see a melt up in software stocks, especially among small and mid cap software stocks. It’s important to point out that in this environment of falling short-term fed funds rates, small and mid caps are showing tremendous leadership. As I look ahead, I believe small and mid caps will TROUNCE the S&P 500. All of this will lead to many small/mid cap software stocks tripling or quadrupling within a year. I’m going to uncover them.

On Saturday morning at 11am ET, I will be hosting a webinar, “Capitalizing On Small- and Mid-Cap Strength”. The objective of this event is to illustrate the strength in these two asset classes and to discuss potential levels of outperformance and to point out many stocks poised to lead. If you want to find stocks capable of tripling, quadrupling, or even more, then this webinar is for YOU! The webinar is completely FREE (no credit card required), but you must register for the event to save your seat – and seats are limited. For more information and to register NOW, CLICK HERE.

Happy trading!

Tom

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In World news

Japanese Princess Yuriko, oldest member of imperial family, dies at 101

2 Mins Read

Tokyo (AP) — Japanese Princess Yuriko, the wife of wartime Emperor Hirohito’s brother and the oldest member of the imperial family, has died after her health deteriorated recently, palace officials said. She was 101.

Yuriko died Friday at a Tokyo hospital, the Imperial Household Agency said. It did not announce the cause of death, but Japanese media said she died of pneumonia.

Born in 1923 as an aristocrat, Yuriko married at age 18 to Prince Mikasa, the younger brother of Hirohito and the uncle of current Emperor Naruhito, months before the start of World War II.

She has recounted living in a shelter with her husband and their baby daughter after their residence was burned down in the US fire bombings of Tokyo in the final months of the war in 1945.

Yuriko raised five children and supported Mikasa’s research into ancient Near Eastern history, while also serving her official duties and taking part in philanthropic activities. She outlived her husband and all three sons.

Her death reduces Japan’s rapidly dwindling imperial family to 16 people, including four men, as the country faces the dilemma of how to maintain the royal family while conservatives in the governing party insist on retaining male-only succession.

The 1947 Imperial House Law, which largely preserves conservative prewar family values, allows only males to take the throne and forces female royal family members who marry commoners to lose their royal status.

The youngest male member of the imperial family, Prince Hisahito — the nephew of Emperor Naruhito — is currently the last heir apparent, posing a major problem for a system that doesn’t allow empresses. The government is debating how to keep succession stable without relying on women.

Yuriko had lived a healthy life as a centenarian before suffering a stroke and pneumonia in March. She enjoyed exercise in the morning while watching a daily fitness program on television, the Imperial Household Agency says. She also continued to read multiple newspapers and magazines and enjoyed watching news and baseball on TV. On sunny days, she sat in the palace garden or was wheeled in her wheelchair.

Yuriko was hospitalized after her stroke and had been in and out of intensive care since then. Her overall condition deteriorated over the past week, the Imperial Household Agency said.

This post appeared first on cnn.com

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Riding the Stock Market’s Wave: How to Maximize Your Gains

4 Mins Read

The post-election euphoria may have taken a breather on Tuesday, as the US stock market indexes closed lower. The tech-heavy Nasdaq Composite ($COMPQ) was only lower by 0.09%, whereas the S&P 600 Small Cap Index ($SML) was down the most—it closed lower by 1.54%.

A MarketCarpets Ride

On a day when the equity indexes closed lower, Tuesday’s StockCharts’ MarketCarpets shows that the downward move was mostly from a handful of sectors. Materials, Health Care, Real Estate, Utilities, Industrials, and Energy were the worst hit. Consumer Discretionary was also hit hard, except for Amazon.com, Inc. (AMZN), the highest cap-weighted stock in the sector.

FIGURE 1. MARKETCARPET FOR TUESDAY. Although a lot of sectors were a sea of red, the Mag 7 stocks closed higher.Image source: StockCharts.com. For educational purposes.

What stands out in the MarketCarpet is that the heavily weighted Mag 7 stocks, NVDA, MSFT, GOOGL, AMZN, META, and NFLX, closed higher for the day. AAPL was the exception—it closed unchanged. So, it’s unsurprising that Communication Services and Technology were Tuesday’s top performers.

Because most of the largest cap-weighted stocks closed higher, pulling up the Nasdaq 100 Equal-Weighted Index ($NDXE) chart made sense. The daily chart below shows that the index is still bullish despite Tuesday’s pullback, a decline of -0.41%. $NDXE broke above its July high post-election and is trading relatively close to its all-time high.

FIGURE 2. DAILY CHART OF NASDAQ 100 EQUAL WEIGHTED INDEX ($NDXE). Even though the large cap-weighted stocks performed well, the equal-weighted index is also bullish despite underperforming the Nasdaq 100 Index ($NDX).Chart source: StockCharts.com. For educational purposes only.

The last bar on the chart hit the November 7 (the last large body day) low and bounced back. Since the long body of November 7, there are now three short bodies, suggesting that market participants aren’t decisive in one way or another (see the candlestick bars within the green rectangle).

Note that $NDXE is underperforming relative to the Nasdaq 100 Index ($NDX), which isn’t unusual. What is interesting to see is that the relative performance is declining. This may mean that we could see a rotation into Technology and Communication Services as the year plays out.

Finding Stocks Using MarketCarpets

With many mega-cap tech stocks trading at elevated prices, does this mean the less sought-after smaller-cap tech stocks won’t see much upside movement? Not necessarily. One way to identify some of the smaller-weighted tech stocks is to look for technically strong stocks within the top-performing sector that are lower priced.

For example, expand the Technology sector in the MarketCarpet (click Technology header) and follow the path below:

Select SCTR from Measurements > 1M Change from Color By > Equal Weight from Size By.

I use the equal weight because it makes it easier to identify the different stocks. Note that this is just an example; you can use any parameters that meet your investing needs.

The screenshot below is the result of the above-mentioned selection criteria.

FIGURE 3. DIVING DEEPER INTO THE TECHNOLOGY SECTOR. Organizing the MarketCarpets by SCTR and equal weight makes it easier to identify the technically strong stocks.Image source: StockCharts.com. For educational purposes.

The table on the right displays the top performers based on your selected criteria. Mouse over the squares of those top performers and, from the thumbnail chart, identify the stocks that meet your price-per-share threshold. Then, double-click on the tile in the MarketCarpet to see the Symbol Summary page for your selected stock. From here, you can do a deeper analysis; if the stock has upside potential, add it to an appropriate ChartList. Set a price alert so you’re notified when the alert is met.

The bottom line: The stock market offers many opportunities. The key to taking advantage of those opportunities lies in your market analysis. The StockCharts MarketCarpets help you do a top-down analysis of the market to identify stocks or ETFs to trade.

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

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After antisemitic violence rocked Amsterdam, Paris braces for an Israel soccer match

5 Mins Read

With thousands of extra security personnel deployed on the streets of Paris and a “double ring” of security thrown around the national stadium, France is taking no chances with Thursday’s soccer match with Israel.

After shocking scenes of violence in Amsterdam last week – with accusations of an organized “hunting” of Jews following days of unrest with fans of visiting Israeli club Maccabi-Tel Aviv – the French capital is determined to avoid a repeat.

Some 4,000 officers and 1,600 stadium staff will be deployed to police the game, with about 2,500 of those officers around the stadium itself, Paris police chief Laurent Nunez said.

The elite RAID police unit will be present inside the ground, according to France’s interior minister, and an “anti-terrorist security perimeter” will ensure two separate ID checks and searches for attendees.

This fixture comes just days after several nights of clashes in Amsterdam, when at least five people were treated in hospital and dozens were arrested after Israeli fans were attacked following Maccabi Tel Aviv’s 5-0 defeat to Ajax in violence condemned as antisemitic by authorities in the Netherlands and Israel.

Tensions had been rising ahead of last Thursday’s match in the Dutch capital. Multiple social media videos showed Maccabi fans chanting anti-Arab slurs, praising Israeli military attacks in Gaza and yelling “f**k the Arabs.” Maccabi supporters also tore down flags, vandalized a taxi and set a Palestinian flag on fire, Amsterdam police said.

This Thursday’s UEFA Nations League match between France and Israel will take place in the Stade de France, the centerpiece of Paris’ 2024 Olympic Games, and about 20,000 fans are expected to attend, according to Nunez. The police chief added that there was low demand for tickets to the game in a stadium that can accommodate some 80,000 spectators.

The supporters of the Israeli national side will likely differ from the fans at Amsterdam’s Maccabi match – some of whom have a reputation for hooliganism and violence.

On Sunday, Israel specifically warned its citizens against attending the match over fears for their safety. Even so, officials are determined for the game to go ahead.

French Interior Minister Bruno Retailleau has refused to cancel or move the match, telling parliamentarians that doing so would amount to “giving in to sowers of hate.” Instead, the country’s flagship stadium will be turned into a veritable fortress.

But the match won’t only be notable for its security.

Macron will be joined by his prime minister and two former presidents, Francois Hollande and Nicolas Sarkozy, in a rare display of unity.

An iron-fisted response

This game comes at a particularly tense time for politics and sport in France.

Last week, Retailleau demanded answers from Paris Saint-Germain, the city’s main club, after fans unfurled an enormous “Free Palestine” display in the stands at a Champions League tie.

Following the match, Retailleau posted on X that clubs should be wary that, “politics does not come to damage sport, which must always remain a force for unity,” promising in a later radio interview that “nothing was off the table” in terms of sanctions against clubs that refuse to toe the line and police “political” banners.

The minister set an aggressive tone in his first months in office and his response to the Amsterdam attacks was no different. In a move unprecedented even since the Hamas-led October 7 assault on Israel last year and the ongoing war in Gaza that followed, Retailleau called for prosecutors to investigate a far-left lawmaker’s post about the violence in the Dutch capital.

Marie Mesmeur had posted that the Israelis attacked in Amsterdam, “were not lynched because they were Jewish, but because they were racist and supported genocide.”

The official French response could not be more different.

Macron said the incidents, “recalled the most shameful hours of history,” in sentiments mirrored by top French officials in a flurry of X posts.

France – like much of Europe and North America – has grappled with spiking antisemitism in recent years, which has only been accentuated by the October 7 attacks and Israel’s bloody campaigns in Gaza and Lebanon.

In France specifically, less than 1% of the French population is Jewish, yet Jews are victims of 57% of all racist and antireligious attacks in the country, Retailleau told lawmakers on Tuesday.

France is home to Europe’s largest Jewish population and one of the continent’s biggest Muslim populations. In recent years, French far-right politicians have clamored to claim the moral high ground around antisemitism.

All this comes amid a diplomatic spat between Paris and Tel Aviv. Just this week, the Israeli ambassador in Paris was summoned to the French foreign ministry after two French policemen were briefly detained in Israeli-occupied East Jerusalem.

France’s government has attempted to tread a difficult path between responding to Hamas’ attacks on Israel and growing antisemitism at home, and outrage at Israel’s destruction in Gaza and elsewhere. Yet, in the light of recent events in Amsterdam, it is keen to show its commitment to protecting French Jews: Thursday’s match offers the perfect opportunity.

This post appeared first on cnn.com

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