2024 Theme: “Add Into Weakness; Trim Into Strength”

There are lots of potential catalysts still out there this week, and we are continuing to see bullish developments in the SPX, notes Nathan Peterson. He and Kevin Gordon recap the markets and the FOMC meeting. Peterson mentions that near-term we are overbought with the RSI on SPX currently at 74. Gordon highlights that one of their themes for 2024 is “add into weakness; trim into strength.” He talks about how mean-reverting activity will likely continue as long as the stock market stays negatively correlated with bond yields. Tune in to find out more about the stock market today.