VTI - Why I'm Buying The Dip
2024-04-15 13:56:40 ET
Summary
- Markets experienced volatility as the CPI came in warmer than expected and rate-cut probabilities pushed out further.
- The S&P VIX Index spiked to its highest level since last year's correction, indicating potential ongoing volatility.
- The S&P 500's technical momentum indicates a potential pullback, with a buy-in range around 5,000, and 4,800-4,700 in a worse case outcome.
- Despite the near term turbulence, I expect stocks to continue higher into H2 and year-end.
It was an exciting week on Wall Street and for the markets in general. The CPI came in warmer than expected, but the PPI cooled from last month. Also, we saw some initial earnings, with several big banks providing mixed results. The initial rate-cut probabilities continued to be pushed out further, with the July rate-cut odds decreasing to about 50/50....
Why I'm Buying The Dip