The Outlook For Wednesday we should see some selling and dips but overall the outlook is still bullish. Wynn Resorts Stock (WYNN) They reported excellent earnings yesterday after the close. The stock rose after hours but it could give back the after hours rally today. If the stock rallies I plan to sell the $95 put strike for either May 17 or May...
The Outlook On Monday the MACD up signal was confirmed and the SPX closed back above the 50 day moving average. This signals that the current correction is over. Apple Stock (AAPL) On Monday Apple Stock dipped only slightly. I am hoping for more downside before placing the next trade in the Million Dollar Challenge Portfolio. Berkshire Hathaway...
The Outlook On Friday the employment numbers were lower than estimates and the unemployment rate rose to 3.9% from 3.8%. While none of this was dramatic, it was enough to push investors back into stocks on the belief the Fed may be able to start reducing interest rates by June rather than early fall as had been previously expected. This turn...
The Outlook On Friday we get the April non-farm payroll numbers. As long as they are within a fairly tight range of around 240,000 stocks should be fine. The unemployment rate is expected to be unchanged at 3.8%. On Thursday Apple surprised with earnings that beat estimates and were better than expected. The company managed to silence the...
The Outlook On Thursday we get the Weekly Initial Unemployment Insurance Claims which is it comes in higher than expected could see stocks move lower again. The SPX chart has a down signal in place as the 21 day moving average has fallen below the 50 day. This is a signal down that rarely doesn't "pan out" so stay protected and watch for...
The Outlook Following Tuesday's sell-off, today we get the latest FOMC interest rate decision along with Fed Chair Powell's news conference. This tends to be a volatile event. In general the outlook has shifted back to bearish. Don't trust another bounce at this stage. I am moving back to smaller positions and closing trades in bounces that have...