Is a Sell-off Near for the Magnificent Seven? (12/4/23)

(12/4/23) The S&P has had a terrific run, now two standard deviations above the 50-DMA, but it's also getting a little extreme at this point. Normally, when markets trade at this level, you will get a pullback. With markets this far over-bought, it's close to triggering a MACD Sell-signal. That will put more downward pressure on asset prices. We're looking for a correction back to the 4,350-ish level. That NASDAQ has been under pressure in terms of the Mag-7, which has been the leader of the market for most of the year. The NASDAQ is also over bought and is now triggering a Sell-signal. There is now rotation into other areas of the market. RSP has similarly gone too far, too fast, and is expecting a pullback. Gold has punched well into two standard deviations territory, as has BitCoin; Bonds are also in the two standard deviations realm. The point is, there will be a pullback, and you'll have a better opportunity to put capital to work. Hosted by RIA Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton -------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- Watch the video version of this report by subscribing to our new "Before the Bell" YouTube channel: https://www.youtube.com/watch?v=maJXM79poJ4&list=PLwNgo56zE4RAbkqxgdj-8GOvjZTp9_Zlz&index=1 ------- Articles mentioned in this report: "Complacency Seems Overly Complacent" https://realinvestmentadvice.com/complacency-seems-overly-complacent/ ------- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN -------- Subscribe to SimpleVisor: https://www.simplevisor.com/register-new -------- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #InvestingAdvice #MagnificentSeven #MarketPullback 20-DMA 50-DMA #NASDAQ #Gold #Bonds #Markets #Money #Investing