{"id":108998,"date":"2017-07-14T09:52:59","date_gmt":"2017-07-14T13:52:59","guid":{"rendered":"http:\/\/countingpips.com\/?p=108998"},"modified":"2017-07-14T06:54:57","modified_gmt":"2017-07-14T10:54:57","slug":"friday-charts-bull-market-stamina-ipo-purgatory-and-techs-hottest-growth-sector","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/07\/friday-charts-bull-market-stamina-ipo-purgatory-and-techs-hottest-growth-sector\/","title":{"rendered":"Friday Charts: Bull Market Stamina, IPO Purgatory and Tech\u2019s Hottest Growth Sector"},"content":{"rendered":"<div id=\"inves-3823399088\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">July 14, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/WallStreetDaily.com\/\"><u>WallStreetDaily.com<\/u><\/a> <img loading=\"lazy\" decoding=\"async\" class=\"attachment-home-th size-home-th wp-post-image\" style=\"display: block; margin-bottom: 5px; clear: both;\" src=\"https:\/\/s3.amazonaws.com\/wallstreetdailywebsite\/wp-content\/uploads\/2017\/07\/0717_charts2_feature.jpg\" sizes=\"auto, (max-width: 580px) 100vw, 580px\" srcset=\"https:\/\/s3.amazonaws.com\/wallstreetdailywebsite\/wp-content\/uploads\/2017\/07\/0717_charts2_feature.jpg 580w, https:\/\/s3.amazonaws.com\/wallstreetdailywebsite\/wp-content\/uploads\/2017\/07\/0717_charts2_feature-300x155.jpg 300w\" alt=\"Friday Charts: Bull Market Stamina, IPO Purgatory and Tech\u2019s Hottest Growth Sector\" width=\"580\" height=\"300\" \/><\/p>\n<ul>\n<li>20 pessimistic strategists get destroyed.<\/li>\n<li>Snap plummets to new low.<\/li>\n<li>Growth in this sector continues to bound higher.<\/li>\n<li><a href=\"https:\/\/pro.agorafinancial.com\/m\/712529\" target=\"_blank\" rel=\"noopener\"><strong>Also recommended: Nothing moves a stock faster than this\u2026<\/strong><\/a><\/li>\n<\/ul>\n<hr \/>\n<p>It\u2019s Friday in the <i>Wall Street Daily <\/i>nation. That means it\u2019s time to embrace the adage that a picture is worth a thousand words.<\/p>\n<p>For the newbies in the group, each week I select a graphic or two to convey an important economic or investment insight.<\/p>\n<p>This week, I\u2019m debunking a stubborn myth about stock markets that\u2019s making the rounds.<\/p>\n<p>Then it\u2019s onto a dire warning we hope you heeded.<\/p>\n<p>Last, but not least, I\u2019m highlighting the hottest growth sector in the market \u2014 and the best way to profit from it.<\/p><div id=\"inves-1875400947\" class=\"inves-in-content inves-entity-placement\"><hr style=\"border: 1px solid #ddd;\">\r\n<div id=\"inpost_ads_header\">\r\n<p style=\"font-size:10px; float:left; color:#666;\">Free Reports:<\/p><\/div>\r\n<div id=\"inpost_ads\"> \r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/1ApBOV\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2018\/06\/graph_techs_PD.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t     <a href=\"https:\/\/goo.gl\/1ApBOV\"><b><u>Get Our Free Metatrader 4 Indicators<\/u><\/b><\/a> - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter<\/p><br><br>\r\n<br>\r\n<br>\r\n<p style=\"font-size:15px; float:left;\"><a href=\"https:\/\/goo.gl\/f3RrHX\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/investmacro.com\/wp-content\/uploads\/2019\/01\/cot_pie_80.png\" align=\"left\" width=\"80\"  height=\"55\"\/><\/a>\r\n\t    <a href=\"https:\/\/goo.gl\/f3RrHX\"><b><u>Get our Weekly Commitment of Traders Reports<\/u><\/b><\/a> - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.<\/p><br><br>\r\n<\/div>\r\n<hr style=\"border: 1px solid #ddd;\">\r\n<br><\/div>\n<p>So let\u2019s get to it\u2026<\/p>\n<h2 class=\"subhead\">Stocks Destined to Tread Water?<\/h2>\n<p>If we\u2019re supposed to believe Wall Street strategists, we should pack up for the year and quit investing.<\/p>\n<p>Why? Because they\u2019re saying that stock prices have peaked. Not kidding.<\/p>\n<p>After an impressive 8.1% rally for the S&amp;P 500 index in the first half of the year, a recent Bloomberg survey of 20 strategists suggests that it\u2019s all over.<\/p>\n<p>They\u2019re convinced that stocks will trade sideways through yearend.<\/p>\n<p>The only problem? Stock market history suggests strongly otherwise.<\/p>\n<p>Take a look:<\/p>\n<p class=\"centered\"><img decoding=\"async\" class=\"centered aligncenter\" src=\"https:\/\/s3.amazonaws.com\/wallstreetdailywebsite\/wp-content\/uploads\/2017\/07\/The-End-or-Just-the-Beginning-540.png\" alt=\"The end or just the beginning?\" \/><\/p>\n<p>Since 1950, whenever the S&amp;P 500 has risen by more than 8% in the first half of the year, the gains keep coming.<\/p>\n<p>On average, stocks rally another impressive 7.2%.<\/p>\n<p>Talk about sending mixed signals. My recommendation? Listen to analysts and ignore stock market history at your own peril!<\/p>\n<p>Speaking of warnings\u2026<\/p>\n<h2 class=\"subhead\">I Hate to Say\u2026 We Told You So<\/h2>\n<p>But we told you so!<\/p>\n<p>Earlier this week, shares of Wall Street\u2019s latest social media darling, Snap Inc. (NYSE: SNAP), officially turned into Wall Street\u2019s latest IPO bust.<\/p>\n<p>Shares crashed below the IPO price of $17 to hit a new all-time low:<\/p>\n<p class=\"centered\"><img decoding=\"async\" class=\"centered aligncenter\" src=\"https:\/\/s3.amazonaws.com\/wallstreetdailywebsite\/wp-content\/uploads\/2017\/07\/snapcracklepopped_chart.png\" alt=\"Snap, crackle, popped\" \/><\/p>\n<p>What caused the latest breakdown in prices? Turns out that another one of the underwriters that was so eager to earn an investment banking fee on the IPO changed their mind about the company\u2019s prospects.<\/p>\n<p>On Tuesday, Morgan Stanley slashed its price target by 43% \u2014 from $28 to $16. This comes on the heels of another one of Snap\u2019s underwriters, JPMorgan, <a href=\"http:\/\/markets.businessinsider.com\/news\/stocks\/snap-stock-price-jpmorgan-downgrade-2017-6-1002067634?utm_source=markets&amp;utm_medium=ingest\" target=\"_blank\" rel=\"noopener\"><strong>souring on the stock<\/strong><\/a> shortly after the IPO.<\/p>\n<p>If you\u2019re nursing losses, it\u2019s not our fault!<\/p>\n<p>We <a href=\"https:\/\/www.wallstreetdaily.com\/2017\/02\/10\/amazon-online-bookseller-turned-retail-monster\/\" target=\"_blank\" rel=\"noopener\"><strong>warned<\/strong><\/a> against investing in Snap <i>before <\/i>the company even filed its official IPO documents.<\/p>\n<p>If you somehow missed those early warnings, I repeated them after the IPO \u2014 on national television, no less (see <a href=\"http:\/\/www.cnbc.com\/video\/2017\/06\/12\/snap-should-have-never-had-a-buy-rating-stiefel.html?play=1\" target=\"_blank\" rel=\"noopener\"><strong>here<\/strong><\/a>).<\/p>\n<p>If you\u2019re still holding on to shares, get out while you still can.<\/p>\n<h2 class=\"subhead\">Chips Away<\/h2>\n<p>Tech research firm Gartner is out with their latest forecast for semiconductor sales in 2017.<\/p>\n<p>In short, get ready for blastoff:<\/p>\n<p class=\"centered\"><img decoding=\"async\" class=\"centered aligncenter\" src=\"https:\/\/s3.amazonaws.com\/wallstreetdailywebsite\/wp-content\/uploads\/2017\/07\/boomtimes_chart.png\" alt=\"Boom times ahead\" \/><\/p>\n<p>Worldwide chip revenue is expected to climb nearly 17%, to reach $401.4 billion.<\/p>\n<p>This is the first time we\u2019ve eclipsed the $400 billion mark. The $300 billion mark was hit seven years ago. And the $200 billion mark was hit 17 years ago. So clearly, growth is alive and well \u2014 and accelerating.<\/p>\n<p>\u201cA shortage of memory is creating a boom in the overall semiconductor market,\u201d said Andrew Norwood, research vice president at Gartner.<\/p>\n<p>So what\u2019s the best way to invest in this booming market? By scooping up shares of the next chip company that gets bought out at a ridiculously high valuation.<\/p>\n<p>The good news for you is that I\u2019ve spent nearly seven years perfecting a system to identify the most likely targets. For full details and our top takeover candidates, <a href=\"https:\/\/pro.agorafinancial.com\/m\/712529\" target=\"_blank\" rel=\"noopener\"><strong>click here.<\/strong><\/a><\/p>\n<p>Ahead of the tape,<\/p>\n<p>Louis Basenese<br \/>\nChief Investment Strategist, <em>Wall Street Daily<\/em><\/p>\n<p>The post <a href=\"https:\/\/www.wallstreetdaily.com\/2017\/07\/14\/pop-ignore-peril\/\" rel=\"nofollow\">Friday Charts: Bull Market Stamina, IPO Purgatory and Tech\u2019s Hottest Growth Sector<\/a> appeared first on <a href=\"https:\/\/www.wallstreetdaily.com\" rel=\"nofollow\">Wall Street Daily<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By WallStreetDaily.com 20 pessimistic strategists get destroyed. Snap plummets to new low. Growth in this sector continues to bound higher. Also recommended: Nothing moves a stock faster than this\u2026 It\u2019s Friday in the Wall Street Daily nation. That means it\u2019s time to embrace the adage that a picture is worth a thousand words. For the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-108998","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108998","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=108998"}],"version-history":[{"count":3,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108998\/revisions"}],"predecessor-version":[{"id":109009,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/108998\/revisions\/109009"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=108998"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=108998"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=108998"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}