you have google, alphabet is a 73 rsi tonight. when someone says where is the bar, i look at rsi because i want a sense how overbought they are going into the print, and all of them qualify as being overbought. they could get more overbought but the bar is high. >> that is why there is so much intrigue. steve kovach following this for us. do you want to just take off on where josh left off on the bar being high and this is the moment of truth, perhaps the most moment of truth this company has ever faced? >> reporter: let's talk about where the bar is. the thing i think most people need to watch is this azure growth number. i know you were expecting me to talk about co-pilot and ai, but i promise i'm going somewhere with this. we learned all that activity openai has been seeing is directly benefiting microsoft's cloud business. openai runs its systems on the azure cloud and that's part of microsoft's massive stake in the startup. that's what you have to remember, so any headlines you see about business deals, some of that will flow

will quickly likely go back below the powell pivot rally off of that fomc meeting and based on the rsise to overbought but a bearish rsi because of the lower high suggesting bullish momentum leaving the market, maybe we see the s&p 500 moved back down to the 200 day moving average has occurred last year. guy: my favorite chart out there ever is the s&p long-term chart. 2000, 2008 and maybe we go up. we will watch that one carefully. let's talk about the labor market. that is deafly one of the biggest stories of the day. private payrolls rose in december. we get claims dated today which dropped in tomorrow we get the big one. some great coverages coming up on that. >> we got payrolls coming out tomorrow. >> it will be a big test in the market if there is strong data than the fed can stay on hold. >> it will still be really solid. >> still strong, still -- till solid job growth. >> they expect 170,000 jobs. >> we expect 180. >> there is no urgency to cut rates given a strong economy where unemployment is still pretty low. >> the market might start to think it's not actually a situation w

additionally, 16% of the smh names are trading with an rsi above 70. 70 would be overbought. what that tells me, if you're not in nvidia and amd and looking for your entry point, today may not be the best. i think you will get a shakeout, get better opportunities in the stocks. you might have to wait until the end of earnings season to get it. given how extended so many charts are, courtney. >> taiwan semi so important globally, why is that a name you don't own? because it's overbought? because it's so stretched? >> well, something could be important but not necessarily where i want my investment dollars. >> okay, fair. >> their comments matter, their guidance sets the tone, and the way they think of the road map is how all of the other companies, software included, have to think about the road map. that's why they're important, not necessarily as a component in a portfolio. i think i have exposure via international etfs. i'm not totally out. >> that makes sense and good points about the power. wells fargo's chris harvey, as of january 15th, nvidia accounted for 100% of the x

the rsi oscillator was placed on its 14-day moving average to determine the task in the coming week and determine whether it will move up from this level or break this level and the bearish situation. unlike the total index, the total index of equal weight, which represents the small stocks of the capital market , decreased by 11 percent and reached the range of 76,239 units. at the beginning of the week, the total equal weight index reached the level of 769 thousand units from the level of 764 thousand units, but it started to decrease from the middle of the week. in the fourth week of january , we saw the outflow of liquidity from fixed income funds to the amount of 189 billion tomans, and the average transaction value reached 4572 billion tomans. the fluctuating trend of the capital market was caused by some economic and political factors. increasing political tensions in the discussion area. check the budget of the whole country in the parliament's court, the relative decrease in interest rate of banks made the shareholders to be more careful and doubtful about buying shares. in tot

now we want to look at rsi. 0% of these names have rsi below 30 or oversold. that does not mean everything is over. the nasdaq 100 has a 14 day rsa. it's math. not my feelings or opinions. that's right on average. we are not at 70, we are not at 80. we're not overheating. this can continue. if you are waiting for your opportunity it is driving you lazy. i understand the emotion. i don't have any good news for you that tellingly we will do this reversal happen. >> what kind of statement do you think they are making at a time where we have people starting to line up saying evaluation is too rich. time to pivot and rotate into these other areas read over the last few days as i said at the very open, the nasdaq suggesting not so fast. >> i am conflicted there. look at the dow 30. is nike a technology name, walmart? all of these songs -- stocks are green. everybody is a little bit impaired right now. >> russell is taking a bit of a breather recently. >> in two days, you will have jpmorgan, blackrock, citigroup, bank of america. i don't know why it in one day. maybe

up 51% and i have much more exposure there and i just don't want to own both i look at things like rsi when i make a decision of if a stock is too hot. amd hit 78 relative strength index. it's 33% above its 50-day moving average, 60% above its 200 day moving average when people come on the air and say. oh, it's overbought, what they mean is i missed it. what i need is technically it's overbought the stock has been itch up 61% of all trading days and average daily return of 1% is ludieudics and can't continue no mas for me. i have too much exposure they're 8% of the s&p 500. they are the same size nvidia is as big as the entire energy sector, bigger than materials,bigger than real estate nvidia, one company. i want to have less exposure congrats to lisa su. i'm out. maybe i'll see you later >> not quite as long as you were you did sttrim nvidia, too >> you look at these two together, they became our number four and five position waiting together about 12% of the portfolio. i think the big takeaway, earnings are coming up and basically what we saw over the last month and a half was an ea

one reason to think this hype may not last long, take a look at the rsi on bottom, an indication of momentum. there are a series of lower highs saying this is made unless, not as bullish -- less, not as bullish momentum. that is a bears divergence. something to keep in mind. the s&p 500, and this was calculated an hour ago on the year, four sectors higher. most are lower. not surprisingly some big tech sectors on top. investors want to see that breadth. let's see what happens going forward but some nuances to pay attention to us we have all-time highs for the s&p 500 and the nasdaq 100 as well. sonali: the semiconductor index feeling a lot of love. the russell 2000 coming for you next? let's talk about the economy. we spoke with david lefkowitz about how he thought equities would be affected by the fed. david: if the fed is not cutting rates because the economy remains strong, i think the u.s. equity market will be pretty much fun with that. if the fed is cutting rates because the economy is very weak, that it's a whole other story. sonali: joining us now is constance hunter. we have gotten

technical indicators, we have the rsi on pretty much every technical indicator stock market.verall, funds are still underweight, equities at slightly market weight. the indicator, i think the bank of america is issuing only halfway into going extremely bullish on stocks. that leaves a lot of room for stock gains. sonali: we thank you for your time. complicated market ahead. coming up, how do you hedge 2024? the head of g10 strategies at merrill lynch will join us on this topic. this is bloomberg. ♪ you know what's interesting these days? bitcoin. look for bitwise, my friends. (upbeat music) there's more to business than the business you're in. if you use data, that's the privacy business. manufacturing on demand? you're talking cloud business. got a few million hyper-connected customers? digital experience business. that was fast. that's where deloitte comes in. with the right combination of talent and technology to help advance and connect all that it takes to excel in business ... to the business i'm in. deloitte. hey, doc, if you had to choose, would you give yourself a ro

this chart looks at the rsi for the topix. you can see we are nearing the 70 level, the line in blue. the last time we saw that in september we saw a significant correction for japanese equities. so the question is whether this is a sell signal looming on the horizon, even though we see nikkei futures just opening, still pointing to further gains. that is one of the key areas we are going to be tracking today. take a look at this terminal chart because another key one we are going to be watching, as soon as the next hour, is the bank of korea. its rate decision is due, it will be the first bank decision in asia for 2024. the expectation is the b.o.k. is going to be standing pat at 3.5 %. this here would indicate it will be a full year since the bank of korea started to hold rates, if that decision comes through. the b.o.k. saying it does not want to relax its fight against inflation yet. really pushing back on that speculation. let's change on because the third thing we are tracking today is what is happening with the prices o

mchenry: i rise in support of h.r. 4768, the no rsi agriculture act introduced by the ranking membermittee. former chair maxine russia's inf ukraine in 2022, the global agricultural markets have been severely disrupted -- disrupted. post invasion russia withdrew from an agreement allowing ukrainian grain shipments to pass-through the black sea to international markets. thus eliminating a major competitor to russian exports in the process. as a result russianral exports have remain robust. additionally, moscow imposed export taxes and quotas domestic food supply at the expense of the international community. nearly two years later, moscow continues to diligent gently weaponize its agricultural tr trade. russia's actions have not only impacted farmers in ukraine and europe but across america as well. as with many!mhings the united rely on foreign adversaries for our food supply. ■jis imperative to our economic growth and our national security. international financial institutions like the world bank an-i the i.m.f. can play a critical role in providing technical assistance to develop t

you can see the rsi, indicator of momentum.the bulls do not have a lot of energy come suggesting we could see the cap filled that was the pivot rally potentially the russell 2000 will drop below levels before fed chair jay powell spoke last month and gave the market some animal spirit. looks like we could see the russell 2000 go back to the 200 moving day average. large-cap, apple is down after falling dramatically last week. the worst week in a couple of months. tesla down 3.4%, netflix is down. rounding it out, verizon down 2.5%. these big tech stocks getting hit hard. alix: thank you. the cpi data thursday could help answer one of our questions this week, is the 10-year overvalued? part of the inflation data will be inflation expectation. a large part comes from good prices. we want to get a read from someone on the front lines. tony sarsam is spartannash ceo. spartannash has a global supply chain network, lots of network. thank you for being here. in the third quarter, you said we have the pricing power but the demand is a

the rsi is rounding down. it looks like a pattern that is sometimes called a double top.now if it will turn out to be that pattern but the s&p 500 and the nasdaq 100, we will see if it can take out the resistance. alix: thank you so very much. as guy has been alluding to over the last two hours, this is our last european close show. guy is going to the morning, i will be joining radio from 10:00 until 12:00 and then the close from dear :00 to 4:00. we would take a moment. we were on location, him being in york. we will look back on the fun we had. guy: it is 3:00 p.m. in london, 10:00 a.m. in new york. i am guy johnson with my new cohost in new york, alix steel. this being day 1, alix cannot hear me right now. alix: that was weird. guy: show me the hat. alix: [laughter] here it is. here is the hat. this is for you. i am messing up my hair just for you. guy: that is great! alix: i want to ask about the debt ceiling. >> you are debbie downer. [laughter] guy: we will get a take coming up -- i will practice this one during the break. alix: [laughter] guy: i hope no one is tak

all three with the rsi above 70. why is that meaningful?eat to take the next leg higher. we have seen it. given the run they have been on, i expect them to do well. it puts you in a position for an actionable pull back. that is why the trend line comes into play. microsoft up 12% year to date. if it pulls back, it allows someone to come in. the one i like is amazon. amazon has done the full roundabout, but has and made all-time highs with the other four stocks. they have room to run. the trend line is slow and steady going higher. it is not overbought. the a.i. story. i can't wait to hear what they say on the call. >> a lot of people are waiting for amazon to talk about a.i. alphabet and meta and microsoft. amazon's elevation at 26 times forward earnings. amazon trading at 48 times forward earnings. are you concerned about earnings justifying the elevated valuation? >> i'm a technician first. this is not anything that i'm concerned about. i look at momentum and where rotation goes into the stocks and sectors. what we saw at the end of last

there's a momentum indicator called the rsi, and it reached above 80 for the 15th time since 1980.hen we look back historically a year later, the market's up 13 out of 15 times, so that's a pretty good hit ratio. we tend to give some of that back. >> speaking of giving back, we had a banner year on the markets in 2023. now we are officially in 2024. this first week, do you think some of the things we're seeing is this simply price taking or is this some concerns about the strength of the economy and the strength of the earnings outlook going forward? >> listen, i think we went a long way in a short peer yold of time. we came off a nine-week winning streak. that's the longest winning streak since 2004. a breather in consolidation makes a lot of sense to us. more overwhen you look at election years, the first part tends to be choppier. the last one i may is unlike last year when you were coming into the year with low expectations, expectations are much higher. you can see that reflected in bearish sentiment. it's half of where we were last year. this is perfectly normal. >> that wasn

i asked braxton, if you look at the technical setup that it's defending, look at the rsi. the stock has corrected without correcting relative to the market. nowi budling up against the prior highs. what i find interesting is, yes, it's growing into its valuation. i think it sets up as a good trade using options. no, no, you get your time, steve, but it sets up as an interesting trade. 40% of their customers don't report until late january. i don't want to be there when they shoe deceleration. i was looking at the options. that is very near a one-year loan. if i want a directional risk everybody so i want to look at cautious $16. that's 3% of a stock surprise. this stock moves, and then i have more than a month for it to play out. again, this is a trade, it's not an investment. ite not doing an about-face. i do think in late february when they report, they're going to show deceleration. i think that will be the top of the stock for a while. >> i did have a question. by the way, i feel like i was tell ported back into an old episode of "options actions." i like the call and

you can see the higher highs for the s&p 500 out of last year -- it is on less momentum as the rsi fallscally, this will indicate that some consolidation for stocks could be ahead. we do not know, because bullish momentum can keep going. one thing that could be behind this divergence -- the yields are higher things to pressure stocks, but that is not happening at this point, so stay tuned on that divergence. katie: abigail doolittle, thank you so much. coming up, legal and political challenges of a diversity, equity, and inclusion program. the wall street week daily, next. ♪ katie: keeping the ei on the radar -- in recent months, diversity, equity, and inclusion initiatives at universities and corporations have faced legal challenges and political backlash, but they are not going away yet. diana scott, head of the u.s. human capital center, spoke to david westin about whether the initiatives have gone too far. diana: certainly, the conversation has been very divided, and i think with a lot of the conversation being pretty divisive, people are focusing on words, and people have lost sight

this is a very large conversions here and we are starting to move above it and rsi is coming off of oversoldld see a four or 5% rally for the dollar. that could put pressure on stocks and it could also suggest you will see yields goa bit higher from here. as for technology stocks, we have some serious declines. back in october, apple is having its worst day since early september, down 3.4%. it's been downgraded to underperform. channel checks are showing the volumes or weaken iphone 15 demand is not great. nvidia and broadcom and microsoft were last year's best performers. nvidia it was of more than 240% but today the tech buyers are taking a breather. guy: great stuff, thank you very much indeed. let's fold that into our question of the day -- how do you hedge 2024? mark zandi joins us now to continue the discussion. let's look ahead for the year. let's figure out exactly what it will look like from an economic point of view. do we get no landing, a soft landing or a hard landing, how do you handicap those risks? >> i'm confident that the economy will land. it won't be a hard landing which

the rsi momentum has turned down.n continue to see some consolidation where the nasdaq 100 does something similar to what it did in 2021 into 2022, trying to figure out where it is going. it will be interesting if we will see it freak out or go back down into that range for the 200-day moving average. as for a couple of stops on the road today, i don't think the nasdaq 100 -- well, actually these are the index boards, we of course have these sharers of bowing down shortly after that mishap on friday, part two believe, alix, that door plug fell out, all 171 737 max 9's have been grounded. thankfully, nobody hurt. united uses these planes. investors looking past that at this point. alix: all right, abby, thank you. we have a jefferies analyst joining us. how much will this be worth it for boeing, this issue? sheila: i think it is fairly minimal. we think too full, one, doesn't change production? we think not, given the delays boeing has had so far. putting it into perspective, we think it generates a cash flow in 2023,

he had the rsi, the ad line. he had everything but the -- >> speaking of charts, we're going to talk about bitcoin and what you've been saying. >> oh, i got a little on that one. >> really? >> how much -- last night? >> the etf? i don't know. >> they doubled the amount betting the numbers would come in, and the numbers are so bad -- >> it's a tease. you've got to do it next. it's a tease. >> the results might surprise you. >> i'm the pebble. i'm the pebble. >> i don't even know what that means. >> we've got the rock coming. >> yes, we do. >> dwayne johnson is going to join us as he joins the board at tko reshaping the wwe and ufc. trying to get traction on futures. we'll get to j&j, verizon, lockheed martin in a moment. ♪ ♪ every day, businesses everywhere are asking: is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to

we say it's overbought when rsi is right above 70, which is this line.w, but this is a momentum indicator. it looks at the higher and lower average periods. if you couple that with something like this, which is two standard deviations over that period, if it is hugging that, that indicating higher momentum of the trend, which is important to note. if we are overbought and see confirmation of a breakout, i want to see it. otherwise, we are not having higher prices. there's no momentum. therefore, the validation is invalidated unless you see overbought territory. >> even though two standard deviations above the mean, as long as it stays there, there's momentum. >> jessica, thank you. we will appreciate it . >>> all right, coming up, ibm is giving its manager and ultimatum to return to the office or leave the company. we will give you those details, next. power e*trade's award-winning trading app makes trading easier. with its customizable options chain, easy-to-use tools and paper trading to help sharpen your skills, you can stay on top of the market from

if you take a look at the monthly rsi it is actually heading lower.g, so you have this stock increasing on decreasing momentum. that is a bearish divergence. plus, when you take a look at the numbers evaluation is skyhigh for apple. about 27 times the number themselves. it could be interesting to see what happens for apple to share and what the impact is on the overall market. guy: thank you very much, indeed. that will be worth paying attention to. let's talk politics now. that is the other factor that seems to be having a massive impact. kailey leinz joins us now to discuss what is happening in d.c. the house is going to consider a stopgap bill today that is designed to avoid a shutdown until march. there is a number of different issues here. what is happening on the border, what is happening on ukraine funding. i'm wondering what influence donald trump is having. here are two big wedge issues that could play well in the election for him. i'm wondering if his influence starts to make it harder to get some of these deals done. kailey: this is a quest

maybe getting a little overbought on the rsi.f we do pull back, is there a number on the downside you like to see hold, maybe 4600, something like that? >> there are definitely different measures to mark different levels of support, if i recall i was back here on set in october calling for the year-end rally and we got it in a meaningful way. we saw different breadth thrusts firing at certain point. in december, 90% of the s&p trading above its 50-day moving average. these are very bullish indicators more often than not your success rate is in the '90s, returns are double digits. i don't necessarily see much of a pullback. charles: right. >> bespoke put a great chart out last 24 hours we have not had a 2% pullback on the s&p in months. so i don't see any near term risks that is causing a five, 10% move down. i'm looking more at upside risks. charles: before i let you go we talked a little bit about some downside risk and the fed policy error stands out. red sea, china economy deteriorating, china propping up stock market, u.s. do

amounts of money inhat period, he manages to feed millions of people in for tons of supplies he fed rsi he fed the soviet union in 1921. there are some good books have been done on it. i didn'puthem in book, but i do have photographs from th soviet union of people selling human parts cannibal tables. th's how bad the famine was. but hoover managed alleviate that and so did the people who worked with him. this is look, the posters are on the wall. one of the things i love doing with collecting is to find them in action and see that they were used and these were really these posters really were the face both of them are in the book, the color plates. this really the face of the operation. and i, i like this, too, that this had been the grand duchess palaces, where they were feeding was taking place notice do most the little kids have shoes? so in any event this is one of my favorite photos where the food is down the volga river to what was stalin grabbed and look camel there is an almost anyway that the relief was they didn't find a way to get the relief to the people that needed it thi t

of cou and rsi can't even continue.of course, desantis and nikki hale the ry are still in the race i and they're receiving donations. >> the hope is that the clear frontrunnes thr will somehow crh and burn the hope that lightning strikes oror christie cuts his brake lines. yeah, like you could fit underre a car. and for biden, it would be they finally admit the obvious and take them off solid food . >> some dems who live in the real world have labeled dnr do not reelect. >> and while ron and nikki hover about vague is looking like the smart one, he knew how this would go, so he took a shot. race the smart is profiled, andr the right time came suspended, his campaign. >> if trump wins, you can betg he's looking at a big spot. bie secretary of florida's. but it's not bad for a guya joe biden thinks should joe a 7-eleven.. >> so now we're left with the the clear and two otherss pr praying that the main guy gets taken ouayg thatt, which is sort of like things around here on this show, like that. >> look, i get it. p this is

but rsi was still on it, offering up their famous swimsuit issue to the woke gods. >> that rag was once a billion the than the magazineion-do that spawned it. i still remember as a teenagerly having paper cuts where a boye should never had a paper bagnev wa toes. then in 2014, the swimsuit edition was taken over by wokes editorr editor m.j. day, and soi brought this. now, look, i know beauty is in the eye of the beholder, but mys recollection of the swimsuit ist e was more along the lineswi of kathy ireland, not a cover model. the sizere ireland having takenm on fat shaming. the next evil was ageisming by having an 82-year-old womanan graced the cover, which letw left a lot of readers wondering how long has that model beenas e in the water? r]and but that's martha stewart, and she's not bad. and it made perfecshe ist. how o >> every sports nut i know mak is interested in how to make a baked brie to impress your next book club. the 2023 edition also featured a model who was seven months pregnant and a bald black woman who shaved off her hair as a form of protest.th to the readers, it was