Market Milestones: Cut Me Jerome

[Image] Happy Friday , We're all just Rocky Balboa in his corner during the Apollo Creed fight. We've taken punches from inflation, rate hikes, and a host of other heavy-handed advisories. Meanwhile, our cut man, the esteemed Jerome Powell, simply watches as the blows rain down and the swelling intensifies, unwavering in his no-cut policy. The market is practically pleading for a cut at this point. It was clamoring for seven cuts earlier in the fight, then three, and is now just expecting one measly little cut in the 11th round. His May 1st speech after this last round made it evident that cuts were not in the immediate future. This is a stark change from November 2023 when Jerome 'Ghostface' Powell was sharpening his main blade, ready to get this market back in the fight with as many slashes as it took. After referencing two movies in that analogy, I feel it’s getting a little muddled, but Jerome 'Ghostface' Powell is just too good to pass up. Anyway, the market is just off its all-time highs, so the Ghostface's pivot in November obviously worked. Everyone assumed money would be easy again with QE flowing and meme coins going to Mars. However, now that the market realizes that inflation could be stickier than maple syrup on a cold Canadian morning, will they give back the gains made on the easy money assumptions? [Image] We have been tracking a bars overlay on SPY for the last couple of weeks and it is totally nailing this correction so far. I mean, who could have guessed that we would see some buying around the 100DSMA. Genius stuff! Really, really innovated stuff. The bars are now calling for one more push higher followed by a decently swift move, the C wave, into the previous all-time high. It looks like AAPL may provide that next leg higher for the markets, or will it? SPY [Image]( The SPY and the QQQ did not care that [AAPL topped]( in December of 2023 and their prices have been diverging ever since. The extent that markets care about this AAPL gap will be very interesting. The AAPL gap is a really strong gap on a technical level, even though their earnings were not all that impressive. It is gapping above a major resistance at $180.00, the 100DSMA and the 200DSMA. It also held the $166.00 support and the 100WSMA perfectly with bullish divergence. As long as AAPL can hold above $180.00 it looks good for a continued move higher. Friday's price action on AAPL is going to finally settle the age-old question of what 110 billion dollars can really buy you. It looks like the answer is about [6%](. AAPL [Image]( Strive On, Yates Craig, RLT Market Analyst [support@RLTNewsletter.com](mailto:support@rltnewsletter.com) Disclaimer: Trading involves inherent liabilities and risks. By accessing this newsletter, you acknowledge and understand the associated risks with trading and investing. This newsletter or email does not serve as a solicitation to buy or sell any security, and its content should not be construed as financial advice. The trades, analyses, and results presented are for entertainment and educational purposes only. These materials do not substitute professional advice from a qualified individual, firm, or corporation. Past performance does not guarantee future results, and simulated performance results have inherent limitations. Readers are strongly urged to consult a qualified financial advisor or professional before making any trading or investment decisions. Each individual's financial situation is unique, requiring personalized advice. No strategy or trading approach ensures profits, and market conditions can change rapidly. Participants should trade with capital they can afford to lose. This newsletter does not aim to create an advisor-client relationship, and receipt does not constitute such a relationship. Readers are responsible for compliance with applicable local laws and regulations related to trading and investing. The analysts and moderators may or may not trade any of the given equities. Unable to view? Read it [online]( If you no longer wish to receive mail from us, you can [unsubscribe]( Sent from: Real Life Trading in Nashville TN 37221