BAD News for BEARS! S&P 500 Hits New All Time High

05.16.24: Tom Bowley is not surprised the S&P 500 reached a new all-time high, as traders were happy the CPI matched expectations. This is NOT a bear market! While Tom sees some possible issues arising later this summer as the presidential election nears - for now, this is a secular bull market. Tom closes out the show highlighting recent earnings reports.
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00:00 - Welcome!
03:06 - Yesterday's Action
09:47 - 10-Year Treasury Yield ($TNX)
12:10 - S&P 500 ($SPX)
12:41 - Nasdaq 100 ($NDX)
13:08 - Russell 2000 ETF (IWM)
14:07 - Transportation Stocks ($TRAN)
16:27 - Top 10 Stock Picks Event
17:49 - Chart of the Day: Freshpet (FRPT)
19:21 - Earnings: Walmart (WMT)
20:02 - All-Time High on Applied Materials (AMAT)
23:11 - Cisco Systems (CSCO)
26:01 - Grab Holdings (GRAB)
26:48 - ZTO Express (ZTO)
27:31 - Deere & Co (DE)
29:35 - JD.Com (JD
29:55 - Opening Chart: WMT, CSCO
31:55 - Market Open
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[@pezzodipunto2239]

Great as always Tom, thanks much!

[@cheersmodreams691]

It's temporary. Be ready. 🐻

[@titusrider7948]

Bad News Bears ! I loved that movie, but i digress 😅 The very narrow ATR on short term 5min charts, aka volatility crush, seems very suspicious to me as being sustainable ?

[@davidscher1620]

🍿

[@mikeornellas3562]

UR going to get clown punched thinking this run is based upon solid worth

[@tombowley9894]

Been clown punched for nearly 2 years.

[@mrdev5281]

PERMA BULLS NEVER SEEM TO WITNESS A HIGH >> I think his Title Says it all. Better Traders call these messages Famous Last Words. These overly bold statements come at time when RISK IS EXTREMELY HIGH as most REAL technicians know higher highs and or lower lows can also come with TECHNICAL Divergences . In the Bull Market that would be a Negative Divergence that runs the Risk of an Extreme PULLBack

[@pezzodipunto2239]

Do you have a track record to share? Tom's is there for all to see and it is excellent, if you had bothered to check you will know he is not a permabull. Side note: it appears your caps lock is a little stuck, may want to try some WD-40 on that.

[@tombowley9894]

Mr D has been disagreeing with my bullish stance since the S&P 500 was at 3650 in June 2022. The track record is clear. Welcome back Mr. D!