10/7/2024
By Charles Payne CEO & Principal Analyst

The market eked out a gain the week after the Street applauded the stronger-than-expected jobs report, but the internals were not pretty.

Artificial Intelligence (AI)-influenced trading kept Utilities (XLU) higher as Google (GOOGL) has known they are looking for their source of nuclear power. 

Energy (XLE) got a boost after Iran launched close to 200 missiles at Israel. Israel promises harsh retaliation. Although Energy only has a fraction of its past influence, it was a monumental week that lifted the entire market.

That was no small feat, considering the beating the Technology (XLK) Sector endured.

Bulls will cheer the week as another win for the market, and nobody will ever bother to look beyond the overall gain in the S&P 500. Still, it wasn’t an easy market, and I don’t think it will get any easier until after the election.

The Fix is in!

For many years, I have said and written that the ‘fix’ is in when it comes to the stock market. And the manipulation has gotten far worse in recent years.

When you hear an outcome is “fixed” or “manipulated,” you think it's nefarious, harmful, and possibly illegal. You also believe the intent is to harm an individual or a group.

That’s the right way to think of those words in general, but when it comes to the economy and stock market, and I will add reporting on the ‘fix,’ the intent is to control the masses and further empower as well as enrich the establishment.

Logic and history say at some point, anything built on such a specious foundation is doomed to crumble. 

Well, from time to time, the economy drives, and the stock market pays a heavy price.

But after each failure episode, the ‘fix's’ architects return to the drawing board with new knowledge.

They improve, the economy holds up longer, and stock market rallies last longer. I’m not talking about a garden-variety assessment of bull and bear markets, but secular moves like the current move that began in March 2009 when everyone was still bailing out at exorbitant losses.

The rally officially became a secular bull until it took out the 2000 and 2007 highs. History suggests this secular move should last 16 to 20 years or longer, which means 2029 to 2033 for the current version. All the folks controlling the levers must do is keep pulling them and messaging the message.

To read the full report, contact your account representative or email Info@wstreet.com.

Charles Payne
Wall Street Strategies

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