Hello Traders and Investors, today I will take a look at the S&P500 . -------- Explanation of my video analysis: Fore more than a decade, the S&P500 has been trading in a pretty clean rising channel formation. We had the last retest of support in 2022, which was followed by bullish confirmation and a rally of +45% in 1.5 years. At the moment the S&P500 is...
Treading lightly here as the SPY looks to be right at the end of a bearish rising wedge following a bearish ABCD Elliot Wave heading into a major week economically speaking. On Wednesday we have retail sales numbers, core CPI, and Core CPI YOY coming out, followed by jobless claims on Thursday. Will be watching closely, some support levels and RSI-based supply and...
SPY (second red mark) looks like a repeat of the 1st one. Additionally the pitchfork lines also seem bearish. Additional pitchfork lines also seem to confirm a bearish outlook:
Markets tried to stay on a positive side after the FOMC meeting, however, the April`s job report was the one that saved the market optimism during the previous week. Although the Fed noted that the first rate cut will occur when data clearly show that the inflation is on a clear road toward the 2.0% target, a much softer than expected jobs report was the one that...
Trading Plan for Monday, May 6th, 2024 Market Sentiment: Uncertain, with bulls seeking further confirmation after exceeding a major resistance level on Friday. Consolidation and complex, level-to-level price action are likely. Key Supports Immediate Supports: 5145-50 (major), 5136, 5116-13 (major) Major Supports: 5082-77 (major), 5067 (major), 5060...
“The only bad time to buy real estate is later” cites investment wisdom. But, when interest rates soar high, real estate investments can and do hurt. Last week FOMC reiterated its resolve to fight inflation down to its target 2%. Inflation has been stubborn and sticky. It has shown signs of trend reversal towards resurgence. Chair Powell’s made clear that rate...
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Q1 2024 Performance: On February 7th, 2024, Roblox Corporation reported its first-quarter 2024 financial results. The company’s earnings per share (EPS) for the quarter were -$0.52, surpassing the consensus estimate of -$0.57 by $0.05. Roblox’s revenue during the quarter was $1.13 billion, exceeding analysts’ expectations of $1.05 billion. The company’s revenue...
Reasons Why !! In Q4 2023, Robinhood’s net revenues increased by 24% year-over-year to $471 million. This growth was driven by higher net interest, transaction-based, and other revenues1. The company reported net income of $30 million, a significant improvement from the net loss of $166 million in Q4 20221. Adjusted EBITDA rose to $133 million, a 62% increase...
NASDAQ:RIVN 15 DOLLARS AFTER EARNINGS ? Rivian Automotive has confirmed that its next quarterly earnings report will be published on Tuesday, May 7th, 20241. The earnings conference call is scheduled for 5:00 PM Eastern on the same day1. Stock Price Movement: As of now, Rivian’s stock price stands at $9.21 per share1. The stock has been volatile, and investors...
S&P 500 Index 4Hour Timeframe RSI Moving Average Elliot Waves Overall Summary Hello and welcome back everybody! I hope you are doing good at today's monthly close! We are watching a 13$ S&P500 gain this month, which is absolutely crazy! Gains were possible, though the cliff to the downside looks scary as hell. Mixed feelings everywhere, uncertainty, fear but...
Last week, using oversold bounce, buyers attempted to regain control over the price. Their effort was somewhat successful, as they managed to establish both a higher low and a higher high on the daily chart. However, they failed to set a weekly low, which was a challenging task given the magnitude of the previous week's range. This indicates that bears still...
Two years after my last big short on SPX, the price has once again reached the top of the ascending channel. Based on this scenario , the expectation is that SPX will peak within the next two months , around early May 2024. Initial target 4,800, stretch 4,400 Incidentally, Bitcoin appears poised to surpass its 2021 all-time high, during which Bitcoin peaked...
The stock market is at a major decision point, with 1969 low unemployment up-trending for the better part of the last year. Low unemployment *potentially* signals the maximum productivity of an economy. This is an important area to watch and wait. If we break above and trend-line check into support it could mean a bull market similar to 1990's is...
Trading Plan for Friday, May 3rd, 2024 Market Sentiment: Bulls maintaining a tentative lead ahead of multiple high-impact market events (Apple Earnings and Jobs Report). Expect extreme volatility and plan accordingly. Key Supports Immediate Supports: 5068 (major), 5054 (major trendline - note this level rises daily) Major Supports: 5028 (major), 5001...
ES Trade Plan Inflection: 5082 Upper lvls: 5099-5109 / 5125-5127 / 5137 / 5153 Lower lvls: 5072-5074 / 5036 / 5005 NQ Trade Plan Inflection: 17632 Upper lvls: 17776 / 17818-17838 / 17871 / 17901-17937 / 18063 Lower lvls: 17564-17573 / 17482 / 17356-17370 Stay Frosty!
Market need pullbacks to allow market participants to join. Today is CPI day so we might have some volatility coming into the markets. Remember that 5/10% corrections are normal before any previous ATH in equities NO PANIC
Reasons Why Apple’s Fiscal 2024 First Quarter Results: Apple reported its financial results for the first quarter of fiscal year 2024, which ended on December 30, 2023. Here are the key highlights: Revenue: The company posted quarterly revenue of $119.6 billion, representing a 2 percent year-over-year increase. Earnings Per Share (EPS): Quarterly earnings per...