January 3, 2024

By Nigam Arora & Dr. Natasha Arora

To gain an edge, this is what you need to know today.

New Economic Data

Please click here for a chart of Nasdaq 100 ETF (QQQ).

Note the following:

• The chart shows tech stocks have fallen back into the support zone.
• RSI on the chart shows tech stocks are near oversold.
• The stock market has a consensus now that everything is going to be immaculate – the landing, the Fed, interest rates, earnings, adoption of AI, Russia, China, and the Middle East.
• The stock market is assuming a 90% probability of seven rate cuts.