You cannot predict the future. But you can prepare for it. Mega cap tech stocks have collectively lost USD 930 billion in value since Nasdaq 100 peaked on 21st March 2024. Will Super Sevens earnings turn the tide?
Starting this week, the Super Sevens will start announcing first quarter results. NASDAQ:TSLA is up first on 23/Apr (Tue) followed by NASDAQ:META ...
Rally was short and sweet. Got 0.50. Fibo. Meta cracked it. Was fading all day already after the morning pump; just three up days.
C legs typically extend farther and give a 1.62 extension, capitulation and panic prevail.
May will be Bearish, at least to start, imo. Need to watch this correction carefully to gauge whether it takes ABC form or a more sinister...
The SPX has rallied approximately 3.5% since its lows on 19th April 2024 and well into the two-day FOMC meeting that kicks off today. In line with general market expectations, we do not anticipate any change to the central bank’s monetary policy, and just like on previous occasions, we expect Jerome Powell to reiterate the FED’s commitment to fighting inflation...
On the above 4-day chart price action has corrected 10% from the 4600 summer high to find support on the Golden ratio. A remarkable moment now exists to have long exposure. Why?
1) RSI and price action resistance breakouts.
2) Support on 2022 resistance. What a signal!
3) The Cup and Handle pattern confirmation is textbook. The handle breakout follows strong...
The S&P500 is approaching the 1D MA50 (red trend-line) to test it as a Resistance for the first time after the April 15 bearish break-out. It has already broken above the Bearish Megaphone, the 4H RSI has formed a Channel Up similar to the price action's and so far this sequence of events is fairly identical to the previous correction of August 2023.
That...
S&P 500 Rebounds after Negative GDP News
Data released yesterday showed US GDP growth slowed to 1.6% in the first quarter of the year. According to ForexFactory: forecast = 2.2%, past value = 2.4%.
Reaction to the news sent the S&P 500 mini stock index (US SPX 500 mini on FXOpen) sharply lower as market participants may fear a period of stagflation — a period...
Everywhere I look I'm seeing talk of a "new bull market"
But I don't think this is a new bull market
I think we are getting a visit from a distant relative: Ole' Cousin Bear Market Rally
Why do I think this?
Well, typical of "family", the members within share common attributes
In the next post we will talk about what some of those common attributes are in detail
Hello traders!
‼️ This is my perspective on S&P500.
Technical analysis: Here we are in a bullish market structure from 4H timeframe perspective, so I look only for long position. My point of interest is if price continue the retracement and then rejects trendline + S/R zone + FIBO 0.618 level.
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No doubt everyone has heard a variation of the phrase:
“Sell in May, return another day.”
In Wikipedia it is written:
“Sell in May and go away is an investment strategy for stocks based on a theory (sometimes known as the Halloween indicator) that the period from November to April inclusive has significantly stronger stock market growth on average than the...
Yesterday’s financial print in the United States revealed a notable decrease in the GDP growth rate on a quarterly basis, coming down from 3.4% in 4Q23 to only 1.6% in 1Q24. This figure was well below market expectations of 2.5%, which spooked investors and led to a sudden drop across U.S. stock market indices. Nevertheless, by the market close, the SPX recovered...
Tomorrow 04/25
14:30 USD Continuing Jobless Claims 1,810K 1,812K
14:30 USD GDP (QoQ) (Q1) 2.5% 3.4%
14:30 USD GDP Price Index (QoQ) (Q1) 3.0% 1.7%
14:30 USD Goods Trade Balance (Mar) -91.10B -91.84B
14:30 USD Initial Jobless Claims 214K 212K
In case of the above mentioned data signaling no cool-down in the inflation pressure I...
Since November 2023, the S&P 500 has been on a steady climb, spanning six months without a significant pullback to the moving average (MA). Typically, such pullbacks are necessary for price stabilization. However, recently, we've observed a pullback accompanied by considerable volume. This suggests that a substantial portion of market participants anticipates a...
AI has no moral code. It doesn't CARE. 50 retrace, rinse repeat 3 X.
Black swan just off stage, waiting to take it. Currency wars, imbalance globally, Yen... does Japan save itself or the world economy, does the US come to their rescue and devalue dollar, stagflation is here, does FED lower rates, save the real estate industry the stock market and this...
Developed in the 1930s by Ralph Nelson Elliott, Elliott Wave Theory proposes that markets unfold in a series of five-wave impulses followed by three-wave corrections. These "waves" represent the collective emotions of investors, shifting from optimism and bullishness (impulsive waves) to fear and bearishness (corrective waves).
The Anatomy of a Wave:
Impulse...
Previous week was the one where the S & P 500 performed in an excellent manner, increasing its index value by 2.7%. The three-week losing track was finally broken, and the index ended the week at level of 5.124. For one more time, tech companies were the ones that were driving the market to the upside, especially after strong earnings from Microsoft and Alphabet....
After the closing bell on Tuesday, Tesla reported its earnings for the first quarter of 2024. Despite the report showing a 9% YoY decline in total revenue and a staggering 55% YoY drop in net income, along with an increase in operating costs by 37% YoY, shares of the company soared more than 12% in the aftermarket. The price action, however, was not the same for...
Hey my fellow traders! How's it go?
Hope all of you are careful out there and making profits $$$.
Some of you might be getting overwhelmed by some choppiness and rumors coming from all directions. I will do my best to share my spin on what I see on the charts and give some of you a perspective you might not have visited yet.
Let's take one bite at a time so...
