We are midway thru 2023 so it’s time to take a look at our SPY, QQQ, and XHB crash comparison charts.
For SPY, we’re only 11.61% down from the peak and a few stocks Nvidia, Apple, Microsoft, Google are driving the SPY right now but we expect that to correct once we have a recession.
For QQQ:
The QQQ’s appear to be in a new bull market but will it last? Only time will tell but there is a great deal of froth in the whole AI paradigm not too different from the dot com bubble in the early years of that fiasco.
And finally XHB:
XHB has been choppy the past few months but with interest rates hovering at 7 percent, the Fed poised to raise rates again in June and the US Treasury getting ready to unleash nearly a trillion dollar in bonds as soon as the debt crisis is resolved, we expect a giant sucking sound of money leaving banks onto bonds but you’ll need to stay tuned, stay profitable and stay solvent to find out.