Hello, Volatility? This week, we have multiple high-volatility scenarios happening. Specifically, the market is waiting on inflation data and then the most important part, the Fed’s reaction to it. CPI data was released this morning, PPI will be released tomorrow, and then the big one: the FOMC meeting on Wednesday. There is also a witching … Read more
All eyes have been on Apple, Microsoft, and Nvidia as they reached for new, all-time highs. Nvidia achieved the feat first, with an explosive post-earnings move into $419.38. Today, Apple traded as high as $184.95 before profit takers and sellers brought it down. The quick, intraday reversal left it closing the day down -$1.37, or … Read more
The Nasdaq: A Bullish Setup This week, the indexes finally saw a tiny bit of a pullback. Instead of that pullback being a driver for a more profound retreat in the indexes, it only appears to be another buying opportunity in the direction of the trend. That trend is up. The Nasdaq has mult-timeframe squeezes, … Read more
Shares of Nvidia (NVDA) soared today after the company reported earnings that were well above estimates. Most impressive however, was the company’s estimates for next quarter’s revenues which was more than 50% above Wall Street estimates. NVDA cited surging demand for its chips that help with artificial intelligence applications and the stock is poised to … Read more
The Consumer Staples sector closed below its key 50-day moving average today and is on track to be the worst performing area for the week. This underperformance began last week and was along with other defensive areas of the market such as Utilities and Healthcare. At first glance, it appeared as if last week’s 4% … Read more
Identifying Opportunity in Chop When the market is choppy, it can be a bit frustrating for those of us traders who love identifying directional moves. But, as we know, the market chops around 80% of the time and spends the other 20% of the time making big moves. It’s our job as traders to … Read more
A Video Update Last week, we discussed the move in Google, both before and after Google’s AI event. While I continue to like the stock long-term, Google did demonstrate a bit of exhaustion today. It hasn’t fully triggered a pullback move, but I’m watching and waiting for a potential pullback play. I discuss this, including … Read more
Google – A Long-Term View During volatility, specifically during a bear market, it can be hard to focus on the long-term trends and longer-term view. I know as much as the next person how challenging it can be to watch your 401k balance take a hit, equities trade lower, and news headlines focus on negativity. … Read more
Mega-Cap Tech Follow Up The core of mega-cap tech earnings are behind us, and I have to say I am more than pleased with the results. We knew growth would slow. Even though slowing growth isn’t great, what is great about it is that it was expected. What the stock market hates most is surprises! … Read more
Apple Earnings Today after the market close, the last of the major FAANG stocks, Apple (AAPL), is going to report earnings. Last quarter, AAPL missed estimates on almost every line item, as larger macroeconomic forces caused slowing sales in iPhones, Macs, iPads, and more. This quarter, I anticipate more of the same, as the broader … Read more