📈 Alpha Picks & Market Update

15th of April, 2024

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Welcome Investors!

Here’s your Alpha portfolio update for the week:

  • Returns so far this year +3.92%

  • Our leading position is in Silver, currently at +17.6% while our position in Taylor Morrison Home Corp is lagging, at -1.9%

  • Total positions: 18
    See the investment portfolio for the rest of our positions.

The Week at a Glance

Market Snapshot

  • Stock markets struggled last week as a tough US inflation print further dialled back rate-cut expectations.

    • The S&P 500  fell 1.6%, with financials, health care and materials posting the deepest declines.

    • Nasdaq closed the week at -0.7%.

  • Will the Iran-Israel tension have an impact on the market?

    • This is similar to Iran’s attack (theatric display of war?) on US bases in Erbil in 2020. The market crashed a month later, not because of Iran’s retaliation for Suleymani’s assassination, but because of Covid lockdowns and supply-chain disruptions.

    • We believe the market will open lower, only to close the week on a positive.

  • Where is the strength? These industries stand out:

    • Non-ferrous Metals (same as last week)

    • Home Construction (same as last week)

    • Semiconductors

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S&P 500 vs Other Sectors

(relative to the S&P 500 index, year-ago = 100; dashed line = 200-day MA)

S&P 500 vs AD Indicator

S&P 500 vs Advancing-Declining Indicator

This may be just a minor correction, with a potential decline of around 5-10%. It creates a buying opportunity and a new all-time high later in 2024.

Or it could be the start of a new Bear Market.

What to expect?

  • The S&P 500 should hold the 50-day moving average as circled in the chart.

  • If it fails to hold, a drop to $4,950 would be the last support area to maintain the bullish market structure.

  • We’ll reassess our positions in the market next week based on how the above plays out.

IM Trading Desk

The following companies are on our watchlist for trade opportunities. We are looking for long entry on these with 15-20% stop-loss per trade.

  • DDOG

  • CPNG

  • VERA

  • NRIX

  • MP

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Remember, investing is not just about wealth; it's about making informed decisions that shape your future.

Have a great week!

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