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Market Update Newsletter 4/6/23

Markets closed down yesterday, except for the Dow which closed slightly higher. Futures are pretty unchanged from yesterday, pointing to a lower open. Bitcoin (BTC) is at $27k.

I believe we are on the cusp of a downturn. The recent highs seem like the last opportunities to act. If we are on our way to test the lower resistance we are in for heavy selling. It's a good time to pivot away from speculative growth stocks that don't make any money. Reliable, profitable companies are the ones to buy. Earning season's heaviest section is coming up soon and earnings will matter.

Jobs report data shows fewer openings and slower higher in the private sector. That is no surprise since we have 10x higher layoffs this year than last. Investors are scared of a "hard landing" but how soft do you want to land? Just land. The weaker job markets show the Fed's efficacy and the sooner they back off, the better for the short term.

Any bounce should be used as a selling opportunity for sketchy stocks and every dip should be used to buy profitable companies! Since I already explained what type of companies are looking for, here is what I mean.