No Rate Cut As Analysts Expected At Least Something

Wall Street adjusts economic models as stocks sink.

The Nasdaq 100 reacted to the “rates will stay the same” news with a sell-off that took it back to levels seen just a few days ago. In other words, not that big of a reaction…yet anyway.

Here’s how the daily price chart looks now:

The up trend remains intact. Same thing with the S&P 500.

Here’s that daily price chart:

The straight up quality of the 2 charts from late October to mid-January is a thing to behold, largely the result of expectations for the application of artificial intelligence and its purported enhancement of productivity in all business sectors.

How much longer this can continue is open to question, especially given the news of layoffs at such notably large companies as UPS and PayPal, among others.

The fear index popped higher but remains within striking distant of the “not that much fear” territory:

And the weekly is not feeling great fear at this point:

The Alphabet daily price chart is displaying more selling than expected on the news of less earnings than expected:

This Nasdaq 100 favorite is down by 7.50% today and the heavy selling volume tends to confirm the new direction. A close below the 50-day moving average might lead to more serious unloading, we’ll see.

Tesla is looks as if it’s about to find just how bearish a 50/200-day moving average crossover can be, as indicated by the red circle on this daily price chart:

I mention it because it’s usually the most actively traded stock and it’s been one of the hot Nasdaq 100 names up until lately. A move to below those May 2023 lows might be deadly for this stock and concerning for the Nasdaq 100. Tesla’s CEO just lost his position as world’s richest billionaire.