The Compound and Friends
How To Find the Biggest Winners
Jan 5, 2024
JC Parets, financial analyst and chart expert, and Joe Fahmy, experienced investor, join Michael Batnick and Downtown Josh Brown to discuss a preview of what's to come in 2024, how to find winners, a Bitcoin ETF, and more! They also touch on the observation of overwhelming buying pressure in the stock market, the performance and predictions of Wall Street strategists, and the implications of stock market index performance.
01:43:27
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Quick takeaways
- The strength in the stock market during November and December is a positive sign for the year ahead, with historic data showing that strength tends to lead to more strength.
- A range of technical indicators suggest a positive sentiment in the market and potential for continued growth, including ZWEI breath thrust, percentage of S&P stocks above their 50-day moving average, McClellan summation index, and S&P gaining more than 10% in November and December.
Deep dives
Strength in November and December signals potential for a 10-15% year
The strength in the stock market during November and December is a positive sign for the year ahead, with historic data showing that strength tends to lead to more strength. The strength seen during this period has been a rare technical occurrence, indicating a potential bull market. This bodes well for the next six to 12 months, with data suggesting that the market tends to be higher a year later in these cases, with an average gain of 14%.
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