Joel Elconin – Inflation Data, and the Relentless Big Tech Rally, When Will The Market Top?
Joel Elconin, co-host of the PreMarket Prep Show and founder of the Stock Trader Network, joins the KE Report to discuss how markets shrugged off a hotter-than-expected Producer Price Index (PPI) print and why big tech continues to lead the charge.
We break down:
- Inflation surprise: PPI’s sharp jump and why the market still expects Fed rate cuts.
- Sector divergence: Big tech strength vs. small-cap struggles as rates rise.
- IPO and crypto surge: What the frothy IPO market and Bitcoin highs signal about investor sentiment.
- Defensive assets: Why gold remains rangebound despite macro uncertainty.
- Market psychology: Momentum dominance, risk-on sentiment, and whether anything can derail this rally.
Follow Joel: PreMarket Prep Show – Stock Trader Network
DT – This is from my worksheet: https://ibb.co/d4FF2zxB
I have detailed it so that you can follow along.
The first target after liftoff was 1.86 (which had additional support).
Instead, 1.73 was hit — short of the 1:1 ABCD, but an advance of AB by 38.2%.
https://www.tradingview.com/x/5pxGdUNe/
HydroGraph to date, including target.
‘Volume Vector’ into the close.
Worksheet2 (unadorned) — https://ibb.co/jPdQQTYK
89¢ for ‘A’ fit parameters better than 72¢.
The WS1 68.2% extension matches WS2’s 50%.
This target, 2.56, could be a gap up at open.
We will know more in the morning.
Any questions? BDC
Hi BDC, no questions thanks for the reply. DT
DT: Normal bid/ask now (NGRAF) 2.02/2.10 … will note if significant change.
(NatGas may be bottoming.) BDC
DT: Gap up open likely! Bid/Ask now 2.20/2.28 (NGRAF).
https://www.tradingview.com/x/qSKlsvGn/
Natural Gas : Could it be?
https://tinyurl.com/bddmb9wj
UNG/BOIL : Divergence
Pink Floyd! DT
https://www.youtube.com/watch?v=-0kcet4aPpQ