Closing Bell Overtime: Let it Ride or Ring the Register? 1/23/23
Closing Bell
CNBC
4.4 • 139 Ratings
🗓️ 23 January 2023
⏱️ 44 minutes
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| 0:00.0 | All right, sir. Thank you very much and welcome everybody. I'm Scott Wabner. You've just heard the bells. We are just getting started from Post Night here at the New York Stock Exchange. In just a little bit, I'll speak to Star Venture venture capitalist low Tony on what lies ahead for tech that space getting off to a pretty strong start so far this year |
| 0:18.0 | We begin though with our talk of the tape this big day for stocks and a really big week for your money. |
| 0:23.4 | Microsoft earnings 24 hours a day. |
| 0:25.4 | Tesla coming too, and all of it happening with the future of the rally very much in question. |
| 0:30.2 | Should you buy into the move or take the opportunity to sell it's a big question only your money on the line |
| 0:35.8 | Let's ask Cameron Dawson what she thinks the chief investment officer for new edge wealth welcome back. It's good to see you |
| 0:41.5 | All right, so we got over this first little hurdle here, right, a 4,000 on the S&P. |
| 0:46.0 | Been a month since we've closed above that level. |
| 0:48.0 | We just did. |
| 0:50.0 | Does this change your thought about this rally? Well, I think we have to get through the most |
| 0:55.0 | critical level which is 4100. 4100 is the 65 day high. If we look back in |
| 1:01.2 | 2022 we never closed above the 65 day high simply because we were in a |
| 1:06.3 | downtrend. |
| 1:07.3 | And that downtrend continued all through last year. |
| 1:10.3 | Is it over? |
| 1:11.3 | Well, let's see if we break through it first. You got to get through |
| 1:13.9 | 4100 before you're willing to declare that? Well, look, I think the |
| 1:17.2 | technicals can get us so far. You're a tough greater. The technicals can get us |
| 1:20.4 | so far. Positioning can get us so far. We know that we started with really light positioning. But then |
| 1:25.2 | we have to turn to fundamentals. And fundamentals, we would need to see a change in fundamentals |
| 1:30.6 | to really think that this rally can continue. |
| 1:32.8 | Maybe we are on the cusp of doing that if you consider, you know, Fed tightening, right? |
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