Stock Market Recap- January 2- 5, 2024.

      Isaiah 46:4 And even to your old age I am he; and even to hoar hairs will I carry you: I have made, and I will bear; even I will carry, and will deliver you.

January 5, 2024

Macro News:  US Bureau of Labor Statistics- NFP

• US December NFP (Non-Farm Payrolls) - 216k vs: 170k expectations;
• However, November NFP was revised lower to173k from 199k;
• The month of October was revised lower as well to 105k from 150k;
• The total summation - employment for October and November are 71k lower than previously reported.

January 4, 2024

It is another red day in US equities, as they continue to digest the massive gain in 2023.  The market sell-off is burning the overbought reading on the stock technicals chart.

Macro News:  Weekly Jobless Claims

• Weekly jobless claims fall 18,000 to 202,000
• Continuing claims drop 31,000 to 1.855 million
• Private payrolls increase by 164,000 in December

Here's the QQQ: note that it has gained +43% in 2023.

Market Movers:

QS solid-state cell EV battery exceeded battery endurance

AXSM reports Prelim- Q4 '23 earnings & 2024 anticipated milestones

January 3, 2024

Here is the market recap for the trading year of 2023.  2023 Stock Performance

• SPY  +24.2%
• DIA +13%
• QQQ +43%

The poster child for the QQQ or tech rally is NVDA +239% rally in 2023 hyped by Artificial Intelligence emergence. 

Here's a look at QQQ in the last 2 days.

The QQQ has lost the 20-day 

moving average technical support.

In the stock market, there is always a sector performer and underperformer.  While the technology stock is experiencing pullback, Mega Pharmaceuticals is exhibiting strength.