Gianni Di Poce bought the dip last Tuesday and got whipsawed out of it after Fed Day.
Then he bought it back Thursday, because that is what the model said to do. Two sessions later the S&P and the Dow ripped to new all-time highs and the Nasdaq added over 950 points.
He recorded his nightly video on why that low is going to hold, and hold for a long time.
His read comes down to what is leading. Consumer discretionary took the top spot last week, tech came storming out of the gates this week, and that sequence is textbook early cycle behavior coming off a bottom.
Here is what he covers in the video:
→ Why he is not getting excited about semiconductors even though they are outperforming again, and what he would rather watch them do for the next several months
→ The sector he is positioned in instead, and the two names doing the heavy lifting in it
→ The forward PE reading on tech that sits at levels last seen during an actual bear market
→ The nickname the crowd hung on mega cap tech that told him to take the other side of it
→ His Nasdaq target for the rest of the year, and the level that gets tagged first if tonight’s earnings cooperate
→ What silver is doing relative to gold right now, and why he calls it a turning point
→ The seasonal setup that has him bullish through a stretch of the calendar that is usually the opposite
One line from the video is worth carrying into tomorrow. You get two or three of these opportunities a year, and if you are paralyzed by fear you miss all of them.
