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If you’ve been seeing all the news about A.I. but haven’t heard of A.I. 2.0 yet… It’s not your fault.

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TODAY’S MARKET MOOD

Moderately Bearish

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EDITOR’S NOTE: Our friends at The Freeport Society and Louis Navellier have just issued a shocking election prediction for 2024. Read on for the details…

I believe Donald J. Trump will go down as America’s last Republican president.

But NOT for the reasons you may think…

Click here to see my 2024 election prediction. 

If I’m right, the soul of this country will change forever…

Louis Navellier

Editor, InvestorPlace

Your Groceries the Hottest Investment

Remember those articles saying the stock market was a dumpster fire? Well, after the latest inflation report, those headlines might be hitting a little too close to home. Turns out, the rising cost of eggs isn’t just a breakfast bummer – it’s a full-blown investment opportunity!

Think about it: if a dozen eggs cost more than a share of some penny stocks, maybe we’ve been looking at this whole asset allocation thing all wrong. Forget tech giants and blue chips, I’m putting my money in poultry futures!

Of course, there are some risks to consider. Unlike stocks, eggs have a notoriously short shelf life and can be surprisingly volatile (anyone who’s ever dropped one knows what I mean). Plus, the whole avian flu situation adds a layer of uncertainty that not even the most seasoned analyst can predict.

But hey, at least with eggs, you have the consolation of a delicious omelet if things go south. Can’t say the same for that meme stock you bought…

CHART OF THE DAY

Apple Bounces Back?

Apple isn’t just tempting on the snack table – it’s looking juicy on the charts too. While the broader market took a hit from inflation worries, Apple is showing signs of a potential rebound.

Oversold conditions, a confluence of support levels… it’s like the technical analysis gods have conspired in Apple’s favor. Think of it as the stock market equivalent of finding a perfectly ripe apple in the produce aisle – a rare and tempting opportunity.

Of course, even the most delicious-looking apple can have a hidden bruise. There’s no guarantee this reversal will hold.  But if Apple manages to break away from the pack and confirm a bullish move, those $181-$196 price targets might not be so far-fetched.

Now, let’s be clear: Apple isn’t known for heart-pounding volatility. But predictability can be a trader’s best friend in uncertain markets. After all, even Warren Buffet seems to have a soft spot for this tech giant. Maybe it’s time we all took a bite?

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The Market’s 10-Day Showdown: Can the Bull Run Survive?

Forget the immediate reaction to the latest inflation shocker.  The real test for this bull market lies in the next 10 trading days.

History hints at resilience – the S&P 500 has clawed its way higher after each CPI report since October. Yet, the path has been uneven, peppered with losses. This suggests the market is constantly digesting inflation news, sometimes with hiccups, but ultimately finding its footing.

The elephant in the room is the 10-year Treasury yield. Its steady climb hasn’t derailed the rally… yet. But if yields suddenly accelerate, stocks might finally feel the heat. We’re watching for the first sign: a sustained drop in the S&P 500 two weeks after a CPI report.

Even so, there’s room for cautious optimism. The S&P 500’s bullish pattern remains intact, with support levels around 4,800 providing a potential buffer zone. If the market can hold its ground during this crucial stretch, it could lay the groundwork for the next bullish leg.

The bottom line: This isn’t a smooth ride, and surprises are likely. But for now, the bulls aren’t out of the fight just yet.

Stocks React to Inflation Bombshell

Aerospace giant Boeing hit turbulence after analyst downgrades sparked concerns about delivery delays.

Mediterranean food chain Cava Group received a bullish upgrade, fueling optimism about its growth prospects.

Retailer Deckers Outdoor faced headwinds following a downgrade and signals of softening sales.

Delta Air Lines initially soared on strong earnings but ultimately couldn’t escape broader market weakness.

Digital pharmacy GoodRx Holdings gained ground on an analyst upgrade highlighting customer growth.

Chipmaker Taiwan Semiconductor Manufacturing defied the sector’s dip, buoyed by strong demand for AI-linked chips.

Earnings Watch: Banks in the Spotlight

The unofficial start of earnings season kicks off Friday with banking giants Citigroup, JPMorgan Chase, and Wells Fargo reporting. Investors are anxious – will banks increase reserves for potential bad debts, and how will shifting interest rates impact their bottom lines?

Inflation Worries Linger: Fed Remains Unconvinced

March inflation data came in hotter than expected, with rising costs for gas and shelter playing a major role. This stall in the downward trend has the Fed on edge.  Analysts anticipate further clarity when Producer Price Index (PPI) numbers arrive Thursday, followed by the Fed’s favored inflation gauge, the Personal Consumption Expenditures Price Index (PCE), later this month.

The bottom line: This market remains sensitive to both earnings news and inflation signals. Expect continued volatility as investors grapple with these key drivers.

THE FINAL LEDGER

No One Really Has an Idea

It’s easy to get caught up in the day-to-day market gyrations, but sometimes it’s wise to zoom out. Today’s inflation data sparked a flurry of reactions, but how much will it truly matter in the grand scheme?

Let’s channel the wisdom of economist John Kenneth Galbraith: “There are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.

While the next 10 days could bring their share of twists and turns, don’t let the daily drama derail your investment path. Remember, even the most resilient bull markets come with their share of bumpy rides.

Disclaimer:

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