Stocks Are Now Charging in Advance of the Big Inauguration Day

Source: Michael Ballanger 01/15/2025

Michael Ballanger of GGM Advisory Inc. shares his thoughts on the market as we get closer to inauguration day.

CPI/Stocks

The U.S. Bureau of Labour Statistics reported that consumer prices rose by 0.4%, up from 0.3% in November, with “core” CPI rising an unexpectedly low, 0.2% down from four months of 0.3% increases.

Stocks bolted out of the gate with the S&P 500 up 148 points before profit-taking knocked it back to a gain of “only” 78 points by 11:50 am. I expected an oversold bounce this week in advance of the Trump inauguration ceremony next Monday and we are certainly getting one today.

Breadth is good, and the Mag Seven are all green, so while a mid-session fade is probable, this rally took the SPY:US up to the 50-dma at $592.85 before the pullback. If it can close above the 50-dma, it sets up a test of the highs at $609.07. If it reverses and closes weak, then the 100-dma at $579.33 becomes the target.

Certainly, from where I sit, the CPI number was not a solid excuse for new highs but with the MAGA nation on Wall St. wanting to jam it to the Democrats, it would not surprise me to see them take stocks higher into the pre-MLK-Day holiday and inauguration on Monday.

GTCH/GGLDF

I have learned that Getchell Gold Corp.’s (GTCH:CSE; GGLDF:OTCQB) PEA is now completed and is being compiled for final release early next week. I fully expect that the PEA will be robust and that it will provide IR led by Karen Mate to attract “new eyes” (and buyers) into the market.

I was chatting with Getchell shareholder Lawrence Lepard this morning and he was lamenting the state of the juniors right now in their inability to respond in any way, shape, or form to the gold price performance, which was better than the S&P 500 last year. W

e both agree that 2025 is going to see the “turn” in which the speculative flow of capital turns to resources. It is long overdue.

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Source: https://www.streetwisereports.com/article/2025/01/15/stocks-are-now-charging-in-advance-of-the-big-inauguration-day.html