The Outlook Just as we saw on Tuesday, Wednesday's closing candlestick is continuing to warn of weakness. This is not the same as a bear signal but instead a signal advising that the index could slip further today. Salesforce.com Stock (CRM) Latest quarterly revenue missed estimates on Wednesday after the close but earnings beat estimates....
The Outlook The closing candlestick on Tuesday for the SPX signaled weakness for today. I am expecting another choppy session but with a bearish bias. This does not end the bull rally. I also received a number of emails regarding the Hindenburg Omen. I have seen this signal dozens of times over the years without any follow through. Personally I...
The Outlook Historically the first trading day after Memorial Day Weekend has been positive far more times than negative. Following last Thursday's market meltdown, we should see Friday's rally attempt to resume today, as well. SPY ETF Market Direction Portfolio Trade A new trade was placed on Tue May 21 2024 in the SPY ETF Market Direction...
The Outlook I had thought NVIDIA Stock (NVDA) would drag the wider market higher on Thursday. Unfortunately, worries about the Fed still not cutting interest rates, weighed heavily on investors. On Thursday investors returned to selling. Typically as more sellers appear, they drag in even more investors and the sell-off gathers steam. For that...
The Outlook NVIDIA Stock (NVDA) will rally strongly today and should be able to add at least 100 points to the NASDAQ but probably more. Earnings were far above estimates and the outlook is excellent for further growth. The splitting of the stock to 10 to 1 will also boost trading today. NVIDIA Stock (NVDA) The stock will easily hit $1000 today....
The Outlook We should see a bounce just before 2:00 PM when the latest FOMC minutes are released. After that bounce I am expecting a bit more weakness and not much of a change in the SPX ahead of NVIDIA's earnings. The earnings are released after 4:00 PM. A miss from NVIDIA Stock (NVDA) will be hard for the index on Thursday. I would expect a...