A frantic rush of economic data pushed the major U.S. equity averages lower on Wednesday. While the latest PPI report pointed to decline in inflation, retail sales and industrial production statistics raised concerns that the aggressive increase in interest rates has already begun to pinch the economy. Following a mixed performance the previous day, stocks lost...
Stocks pushed higher Friday as the three major market benchmarks booked their best weekly percentage gains since November, after companies began reporting their fourth quarter earnings results, kicked off by several of the big banks. Bank of America, Citigroup, J.P. Morgan and Wells Fargo all ended higher even as some said they are expecting a mild recession....
Chart: SPX 5 mins Yesterday's trade shaped up to be decidedly positive, building on Tuesday's late afternoon rally. The main indices experienced modest turbulence, though, at the start of the session, but they maintained a positive posture even at session lows. Broad buying interest, along with leadership from the mega cap space, kept the S&P 500 above its...
Chart: SPX 15 mins The biggest news yesterday was Fed chair Powell's speech, in Powell's speech, he stated that independence is critical to central banks achieving their mandates in that it insulates monetary policy decisions from short-term political considerations. "His attempts to impress his hawkish view on markets in recent months ended in failures," ING...
Yesterday's trade picked up where Friday's left off, building up gains based on a belief that the Fed won't have to raise rates as much as feared and that the U.S. economy may see a "soft landing" after all. That thinking fueled buying activity in the bond and equity markets to start the day. The rally effort lost momentum, however, in the afternoon trade. The...
Last week: Stocks closed out the first week of 2023 in rally mode while U.S. Treasury yields and the dollar fell sharply after December's employment report showed strong hiring and a historically low jobless rate combined with cooling wage growth, and the Institute for Supply Management's services gauge showed a greater than expected slowdown. While headline...
Chart: Technical indicators Needless to say, all technical indicators are saying FLJ ( NASDAQ:FLJ ) is a clear "Strong Buy" . Do you still remember NASDAQ:IQ I called out in Dec 2022? Link: idea about IQ A study of the best stocks of the past 50 years shows that most of them launch out of sound basing patterns on big volume. And from the tech side of...
Summary: 1. FLJ NASDAQ:FLJ is an idol empty BVI shell company worth less than $5 million but can potentially help raise more than $50 million, which is over 10 times. 2. Recent suspicious transaction indicates this is already happening! 3. A lot of Chinese technology companies are trying to get list via a SPAC! It might be a growing technology company in...
It's a new year, but the stock market is dealing with the same issues that plagued investors in 2022. The day started on an upbeat note with the main indices logging decent gains thanks to some bargain hunting activity before those gains quickly evaporated on renewed selling interest. The S&P 500 touched 3,878 at Tuesday morning's high before briefly dipping below...
Lockheed Martin ( NYSE:LMT ) could be trading at $700 (currently $485ish). The bull case continues to unfold as Lockheed Martin benefits from (at least) three major tailwinds. Favorable market and economic developments benefiting value stocks; Improving global defense spending - that's a long-term benefit; Lockheed's ability to deliver the right...
The stock market had another disappointing session to close out a disappointing year. The main indices remained pinned in negative territory on Friday amid thinner holiday trading conditions, but to be fair, pared their losses in a substantive way thanks to a rally effort in the final hour. A holiday-shortened week kicks off 2023. While investors will likely be...
Chart: QQQ daily Chart: SPX daily Chart: DIA daily With the end of the year fast approaching, U.S. stocks received a wave of buying interest on Thursday. The Nasdaq led the rally among the major averages, climbing nearly 3%. Meanwhile, the S&P 500 rebounded after ending the previous day with its lowest close since the first half of November. The...
Chart: SPX daily Chart: QQQ daily Chart: DIA daily With just two trading sessions left in 2022, cautious action continued to dominate Wall Street on Wednesday, the major averages all fell more than 1%. As investors have worried about the Federal Reserve's hawkish projections and the threat that the central bank might be forced to continue to hike interest...
Chart: SPX daily Chart: QQQ daily As Wall Street returned to work after the three-day Christmas weekend, investors maintained the cautious attitude that has marked most of the past few weeks. The major U.S. equity averages finished the day with a mixed performance. With tech stocks under pressure, the Nasdaq dropped more than 1%, which caused QQQ to break...
The S&P 500 and Nasdaq Composite ended with gains on last Friday, but still posted a loss for the week as recession fears continue to weigh on investors. Sentiment has been dampened by worries over the future of interest rate hikes by the Federal Reserve. Economic data released through the week pointed to a still robust economy and tight labor market that is only...
Chart: QQQ daily Chart: SPX daily With daily doji standing right above prior support, I personally think QQQ is more attractive compared to SPX and has more room to go. As mentioned this Monday, this week gonna be a relatively quiet week, and yesterday is the only day that we can trade for "price correction" on daily basis. Chart: QQQ 15 mins Even though I...
Chart: SPX 15 mins Chart: SPX daily Nothing much to say, just hold your long position, rebound will come soon. Please feel free to express your ideas and thoughts in the comment section.
Any expectations for a rebound on Monday coming off last week's losses were dashed shortly after Monday's open. The major indices were soon backsliding, pressured by ongoing earnings concerns, weakness in the mega-cap stocks, and a Bloomberg report highlighting a rebalancing disposition that will presumably favor bonds in the last few weeks of the year. In...