Last week’s rate hike started the countdown on this bull market. Gianni Di Poce sees it as the signal that we’ve entered the final phase.
He isn’t turning bearish. He thinks this final phase could carry the Mag 7 and Mag 10 another 50% to 80% higher.
Gianni rejects the lazy take that rate hikes are bearish. He expects another hike or two before year end to pull global capital into US stocks.
The bears keep complaining about weak breadth. Gianni says breadth mattered more before just over 10 stocks made up over 40% of the index.
In past manias, the average stock faded well before the indices did. These mega caps have become the indices, so the market won’t go lower while they keep climbing.
Tonight’s video maps out how far Gianni thinks this final phase can run:
The Silicon Surge daily precision arrow indicator fired on Fed Day as the market sold off hard. Gianni bought the NQ after the press conference, and the Nasdaq just hit its first record high in over 3 months.
Gianni’s initial Nasdaq target sits near 32,000. He sees a good chance it reaches 34,000, possibly before year end.
Nvidia is trying to close at its second highest daily level in history. Gianni won’t entertain talk of a market top until it hits 270 to 280.
Bitcoin hit its highest level since the end of January and confirmed its bear market is over. Gianni sees nothing stopping it from reaching 100,000 to 105,000 in the next few weeks.
The clock is ticking on this final phase. Gianni says bulls need to seize the moment while volatility stays in the doldrums.
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