Getting to 2% YoY CPI by the end of 2024 means we need to average monthly CPI prints of 0.1% or less from here.

About half of the S&P 500’s bull market gain of ~45% has come from the so-called Mag 7.

Amazon $AMZN and Alphabet $GOOGL both recently ended their second longest streak of days without new all-time highs. Now comes the breakout?

Musk + Milei

You can check out our quarterly Equity Market Pros and Cons for Q2 2024 here: bespokepremium.com/interactive/po…

Key Events on Monday (ET)

2:30 AM:
Dallas Fed President Logan in Japan

8 PM:
SF Fed President Daly at Stanford

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Key Earnings Reports on Monday

Before the Open:
Charles Schwab $SCHW
Goldman Sachs $GS
M&T Bank $MTB

After the Close:
None

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Thoughts on having to pay for entry to watch your kids play travel sports tournament games?

No slowdown here.

Google searches for 'AI' continue to hit record highs.

The streak lives on. 110 days and counting.

The 10-day advance/decline line has gotten very oversold very quickly.

Small-caps, Mid-cap value, Financials, Health Care, and Real Estate are all down more than 5% in April already.

Another streak ending? S&P 500 currently below 50-DMA for the first time since November 3rd. If it closes here, it will end what was the longest streak of closes above the 50-DMA since March 2011.

JP Morgan is on pace to end a 104 trading day streak of closes above its 50-DMA. That was tied for the 5th longest streak in the last 30 years. $JPM

Quote of the Day -
“The difference between fiction and reality? Fiction has to make sense.” – Tom Clancy

Gold is up for the 8th time in the last 10 days. It was just trading 20% above its 200-DMA (97th percentile) and 12% above its 50-DMA (99th percentile).

Here's yesterday's clip where we discussed Energy and diapered pandas. Thanks Brian Sullivan and Last Call for having us on!

Key Events Tomorrow (ET)

1 PM:
Baker Hughes Rig Count
KC Fed President Schmid on Economy

Progressive $PGR March Sales

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