Wall Street debates on the pullback

Join TradeAlgo's Free Live Trading Session ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ ­ [EARN WHILE YOU LEARN! JOIN OUR FREE LIVE TRADING SESSION!]( Hello investor, Wall Street debates on the pullback Is a pullback coming? Wall Street bears were quick to proclaim yesterday’s pullback as the beginning of an upcoming correction — either short-term and/or long-term. - “Bullish momentum remains intact for the S&P 500 and Nasdaq, but near-term overbought conditions coupled with deteriorating breadth make equities vulnerable to a pullback or correction,” said Craig Johnson at Piper Sandler. The S&P 500 kept making new highs (31, to be exact) this year, but it was largely from big technology companies. Only a few others outside the tech sector enjoyed the gains. Analysts believe that the market is hanging on the back of Nvidia and Apple. Can they keep going? That’s the question. - “Sellers are entering the market, and bulls are dancing on the edge of a knife,” said Andrew Thrasher at Financial Enhancement Group. “Everything is now dependent on pretty much just Nvidia and Apple. It wont take a whole lot to take this market down.” Andrew Thrasher at Financial Enhancement Group (Photo: LinkedIn) Recent economic data continued to show some softening. Housing starts fell 5.5% in May — way below the estimates of a 1.5% increase. Building permits declined 3.8% last month (also below the 0.7% gain expected). A gauge of home-builder confidence fell to 43 in June from 45 in May — the lowest level since December. The Philadelphia Fed Index came in below estimates while initial jobless claims were almost unchanged. Don Rissmiller at Strategas said he is not too worried about the economy yet. As long as the employment level remains resilient, it should still support the economic growth — despite the slowdown in the housing sector. But things could change if the unemployment rate begins to climb. - “The US economy still looks robust enough currently to take an extended rate pause (mixed news is not weak news),” he noted. “We continue to monitor jobless claims closely for any signs that cracks are widening, however.” All in all, Wall Street is keeping a close eye on the economy. More and more data is showing signs of a softening in demand. At the same time, they have been mixed. Some data show robust growth, while some show concerning slowdown. Until something happens, a soft landing remains the base case for Wall Street. Goodbye LASIK? This Wildly Profitable Company Invents A Safer Way To Cure Poor Eyesight How many people do you know that need to wear glasses -- whether wearing contact lenses, glasses, or reading glasses? A lot of them, right? These people are a perfect customer for today’s pick. Here’s why: Two of the most common eye conditions are (1) Myopia for people who can’t see far, and (2) Presbyopia for people who need reading glasses. STAAR Surgical Company offers a permanent cure for both. Today’s Pick: STAAR Surgical Company (STAA) STAAR Surgical Company makes patented vision-correcting eye implants called implantable collamer lenses (ICL), which could be a better alternative than LASIK. The lenses are implanted directly in the eye, behind the iris but in front of the cornea. (Source: STAAR Surgical Company) ICL surgical procedures are reversible and less invasive, as LASIK requires altering the structure of the eyes by trimming the cornea with a laser to correct a person's vision. This technology is hitting an inflection point. Case in point: the company recently celebrated the milestone of 3 million total implantable collamer lenses sold. Half of them were sold in just the last three years! Former CEO Caren Mason highlighted a customer testimonial that underscored the advantages of STAAR’s products. - “On Sunday morning, I was greeted with an amazing email from a doctor who was fearful that she would have to potentially give up her ability to practice medicine due to her very severe myopia and astigmatism. And after having suffered through a lot of challenging visits with surgeons over the years and having been in a situation where she did not want to replace her healthy lens, natural crystal lens, she discovered us. She had the surgery. She was driving the next day. And the headline from her was, ‘Thank you for saving my career.’” The market for their products is large and growing. STAAR’s market includes 90 million people within their core age groups, and the cases of Myopia are projected to grow in the next few decades. (Source: STAAR Surgical Company) Sure enough, the company’s margins are insanely high. For Q1 2024, gross profit was 78.9% of net sales! The company is also swimming in cash. It has $245 million in cash with just $35 million in debt. That’s good for a current ratio of 5.84. Here’s the kicker: Laser vision correction surgery (the old method) was down 19% in Q1, while STAAR’s revolutionary EVO method was up 15% year over year. This is a huge testament to how the market is shifting to lens-based refractive surgery. Bottom line: STAAR Surgical Company has created exclusive technology that permanently cures vision loss without the risks of laser surgery. This young and already-profitable company projects to grow quickly on the top and bottom line over the next few years. You can get in while their market cap is just $1.87 billion. [EARN WHILE YOU LEARN! JOIN OUR FREE LIVE TRADING SESSION!](       © All Rights Reserved, Trade Alliance [Unsubscribe]( | [Manage Preferences](