Pinebrookcap's Substack

Pinebrookcap's Substack

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Pinebrookcap's Substack
Pinebrookcap's Substack
Mommy, When is Santa Coming?

Mommy, When is Santa Coming?

David Cervantes's avatar
David Cervantes
Oct 03, 2023
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Pinebrookcap's Substack
Pinebrookcap's Substack
Mommy, When is Santa Coming?
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  • In this week’s Monday pre-trading note, I mentioned the low probability of a year-end Santa rally starting this week. 

  • Aside from still being 3-months out from the calendar year end, the market is still waiting with baited breath for the employment situation report (“NFP”) on Friday

     

  • For this week, I still think its churn and burn until then.

In last week’s Weekly Signal and Noise Filter, I highlight the record number of companies providing guidance as a market tell on increased earnings confidence.

With all of this year’s S&P500 performance being driven by tech names, we need to focus on the number of tech names providing guidance.

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