Last week, the S&P 500 hit its 15th straight record high this year. And when things get this good, you can’t help but wonder if the market is overheated.
Consider this… CNBC recently reported that only 22% of S&P 500 stocks are outperforming the index right now, meaning that just a handful of large-cap stocks are doing most of the heavy lifting.
So, where does the market go from here?
On this week’s Navellier Market Buzz, we invited one of our favorite technical experts, Tammy Marshall, to help answer that question for us. We talk about why this market is extended, whether it could pull back (and by how much) – as well as key support levels to watch. Plus, we reveal our top five stocks to buy on a market dip.
Click the image below to watch now.
To see more of my videos, click here to subscribe to my YouTube channel. And if you’d like to learn more about Tammy, check out her website here.
While Tammy and I focused mostly on the technical side of this rally, there’s another reason I’m watching things so closely right now.
That’s because the Senate is expected to vote on Kevin Warsh’s confirmation as the new Chair of the Federal Reserve this week.
But personally, I think the mainstream financial media is getting the entire story wrong.
You see, most of the media coverage up to this point has been about court politics: The Trump-Powell feud – or whether Warsh will be a puppet for Trump.
What most of these folks are missing is the fact that Warsh has big plans for the Fed.
He wants to reform it. And yes, that does involve key interest rate cuts.
I want to be very clear.
In my nearly 50 years of investing, I’ve only seen market conditions like this four times before: 1995, 2001, 2008 and 2020.
Each time, my Stock Grader system identified a group of smaller stocks showing unusually strong institutional buying activity before they made some of their biggest moves.
I believe we may be entering that kind of window again, on Friday, May 15.
If that window opens the way I expect, the biggest gains could come early – which is why I believe investors need to be paying attention right now.
To explain exactly what I’m seeing, I’ll be hosting a special presentation called The 10X Fed Shock Event on Wednesday, May 13, at 1 p.m. Eastern.
When you sign up, you’ll get access to my Exclusion List, 53 small-cap stocks that my system has flagged as especially well-positioned for this next window.
And during the event, I’ll reveal my single highest-conviction stock pick from the entire list for free.
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I was born on 6 August 1956 in San Francisco, California to Janet and (the late) Richard Hovis.
I grew up in Santa Monica, California where I attended elementary, junior high school, and high school (graduating in 1974), in addition to involvement in sports and recreation (Little League +, the Boy’s Club ++). Further, it was in elementary school – St. Augustine’s By-the -Sea Parish School that I found, and made the choice to truly journey with God.
I attended Arizona State University from 1974 to 1977 – seeking to become an architect, however, I was not accepted, and, as such, I graduated with a Liberal Arts degree.
Upon graduation from Arizona State University, I attended Cal Poly San Luis Obispo and studied City and Regional Planning at the Master’s level. I successfully completed one (1) year in a two (2) year program – I did not complete the Master’s degree in City and Regional Planning – due to personal reasons.
I returned to Santa Monica where I started (October 1979) my career as graphic designer with Exxon Company, USA. I spent five years with Exxon Company, USA.
While working with Exxon Company, USA I was accepted into architectural school – Sci-Arc in Southern California, however, I did not attend preferring to stay with Exxon..
In 1982 I married Laura Flosi and in April 1983 we had our one and only child – Lauren Alain Hovis – a gift from God.
We moved to Phoenix, Arizona in 1984 from Los Angeles, where I went to work as a graphic designer with Kitchell CEM (from 1985 -1987).
From 1987 – 1995 I was an independent contractor, and a registered representative in mortgage finance, financial management, graphic design, and drafting.
Further, I attended the University of Phoenix and successfully obtained a Master’s in Business Administration (MBA) in 1982.
I was also a member of the Scottsdale Jaycees, where I became very involved in community events and projects.
In 1994, I accepted a cartography position with the Defense Mapping Agency in Reston, Virginia. As such, I relocated from Phoenix to Reston.
In 1998, I was accepted and worked as a Visual Information Officer with the Central Intelligence Agency. In 2002, I worked as a Support Officer until my retirement (due to a need for shoulder surgery) in September 2018.
Away from my Federal Government service, I have been involved in various organizations and activities in Northern Virginia.
In November of 2011, I married Rebecca Ouellette in Santa Monica, California. I reside in San Tan Valley, AZ with my two hamster - Jess and Timothy, our fish, our lizard - RJ Lizard., and our cats - Pearl and Grey.
As to hobbies, I enjoy playing sports, attending sporting events, mentoring individuals from financial management to hamsters, building models, photography, travel, multimedia design, managing partner for RJ Hamster, and jazz – smooth jazz to a samba or a bossa nova.
Love and God Bless,
Peter – aka RJ Hamster Jo hi
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RJ Hamster 