‘Rebound Day’ Offers Hope for Weary Investors

08.06.24: Final Bar host David Keller, CMT recaps a decent upside bounce for stocks as the S&P 500 bounces back above the 5200 level. He shares how high yield spreads and volatility indicate dangerous market conditions, key levels to watch for PLTR, CAT, SMCI, RIVN, SHOP, and DIS, and why the 50K level makes sense as support for Bitcoin.

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00:00 - Welcome to the Show
01:10 - Market Recap
06:38 - S&P 500 Large Cap Index ($SPX), 10-Year US Treasury Yield ($TNX)
11:49 - ICE BofA US High Yield Index Option-Adjusted Spread ($$HYIOAS)
13:07 - Bitcoin to US Dollar ($BTCUSD), Palantir Technologies (PLTR)
16:07 - Caterpillar (CAT), Super Micro Computer (SMCI)
17:50 - Rivian Automotive (RIVN), Lucid Group (LCID) Shopify (SHOP)
19:47 - Walt Disney Co. (DIS)

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Investments or strategies mentioned in this show may not be suitable for you and
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[realsmt]

We had some crazy wind and straight up downpour that caused flash flooding. Welcome back to cle DK. 😆

[chrono]

I took the opportunity to sell those stocks that were bought in the last month - that managed to break even because of the bounce. The reason was because I thought they were cheap when I bought them and when this "black monday" occurred, then I realised that they were not cheap at all. The cheap stocks are the ones that, even in market sell offs like these, they are still in the green.

[joserivera]

We all knew that a correction was due but it always comes big and suddenly! Which sector institutions lost the most from the correction? Will fear continue? You reports are always useful.

[graceh.]

Thank you, David for helping us navigate through this market. Could you please explain what is the sign of accumulation you mentioned?

[titusrider]

I was closely examining the close, especially Nasdaq. Could it be that's the headfake, to look like a continued selloff but actually will be a DCB with a nice rally tomorrow?

[jmr]

SMCI ended up losing over 13% after release of ER. Announced a 10/1 split for October. I guess investors didn't like it and sold off.

[aingle]

Still thinking we touch those lows again (or even slightly below) but we’ll see

[titusrider]

If you drop a dead cat, will it bounce ? 🙄

[hankbank]

The “carry trade” was the culprit this time around!

[t.cheers]

Keller Market Model?? How do I get it? 😲

[jasonclement]

Yesterday was so rough D is living with his parents now... Jk... thanks as always for the good content.

[davidcook]

I don’t consider a one day move to be a bull trap or a DCB. I would be looking for a 1-2 week sustained move up that then fails at a key moving average. That might be the time to call it DCB.

[generalposter]

Big tech is not buying the dip. Retailers are. short soon

[robertrb]

I always thought you lived out your parents' basement

[awsohmvision]

Definitely a trap, its summer time and the market is overvalued still. I think we will consolidate until election time. Putting money in government bonds until then would be the smartest choice.