S&P 500: The index is inching towards its all time high (4,818.62) as rate cuts are coming


Fed Governor Christopher Waller reiterated today that rate cuts are coming, per NYT. Bears beware that an ascending chart pattern has emerged. A breakout to a new all-time high could be imminent. 

This note contained herein is our opinion and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

Comments

Post a Comment

Popular posts from this blog

TESLA INC. (NASDAQ:TSLA): Cathie Wood steps in as Tesla stock is free falling

Image
  Tesla dived over 4% and broke its 50-day EMA, as well as a key technical support at $182.33, on Thursday after the U.S. National Highway Traffic Safety Administration (NHTSA) announced that they began investing two incidents involving steering wheels coming off 2023 Model Y EVs, according to CNBC. The stock might have fallen even more without news that Cathie Wood's ARK Investment Management firm just bought another 70k shares of Tesla. Beware that the stock could continue to fall further after NHTSA now suspects that a Tesla Model S was using its automated driving system when it crashed into a firetruck in California last month, per ABC News. In the near-term, there are supports at $165.80 and a trendline line support at around $161. This note   contained herein is not and should not be construed as a recommendation to buy or sell.   Click here to view the latest update!
Read more

S&P 500: The index may be heading down to retest the November 20 breakout at ~ 4,500

Image
  The S&P 500 was up for the fourth straight week and could pull back this week to retest the November 20 breakout at ~4,500 . The l ast time t he index was up five weeks in a row was in June this year when the Fed decided to leave rates unchanged, following 10 consecutive hikes since March 2022. This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!
Read more

SP500: The market turns into a mess as Wall Street lost confidence in Trump's handling of the economy

Image
The S&P 500 took a 2.41% nose dive on Monday , sliding down over 3% intraday to retest the 600-day EMA at 5,111.49, after CNBC's survey showed that only 43% of Americans approved of Trump's handling of the economy . Investor confidence may also be hurt by the lack of progress on global trade, added CNBC. American companies such as Boeing [BA] , Tesla [TSLA], Apple [AAPL] and Nvidia [NVDA] appear to be the big losers in Trump's tr a de war , letting their foreign competitors gain an advantage in the global market. To make matters worse, Trump is now ramping up attack s on Fed Chair Powell and demands that the Fed lower rates. Wall Street analyst s warn about deeper selloff s of the financial markets if Trump fires Fed Chair Powell. The U.S. GDP Q1 forecast by the Atlanta Fed is -2.2% as of April 17. Keep an eye on the 2Y treasury yield, it just broke its 600-day EMA. In the past 25 years, all three US recessions occurred after the 2Y treasury yield drop...
Read more