Image Source: UnsplashThe Dow finally broke its 8-day winning streak today. In truth, this run didn’t seem so much like a breakaway to a higher orbit and more of a re-establishing levels given up during a dip mid-April. The blue-chip index dropped -81 points today, -0.21%, whereas the S&P 500 was virtually breakeven today: -0.024%. The Nasdaq gained +0.30% for the session and the small-cap Russell 2000 grew +0.16%.Since roughly Election Day 2020, all major indices are up nicely. This, of course, encompasses the Great Reopening but also harsh supply concerns which caused price spikes in many areas. We’ve also seen minimum wage rates i...
I have not been shy about telling our readers and social media/media followers that we liked and bought Alibaba (BABA) in February 2024.And we sat with it.And sat with it.Today, it’s paying us some cushy profits.Will it last?BABA reports earnings before the opening bell tomorrow.Alibaba split the business into six business divisions to avoid regulatory scrutiny in China.Alibaba has repurchased $12.5 billion worth of shares.For fiscal 2024, Alibaba’s EPS is estimated to be $8.63 vs. year-ago $7.64 on a 7.1% Y/Y growth in revenues to $130.2 billion.Analysts say that BABA stock has a conservative upside potential of 30% upside.Furthermore, t...
Image Source: UnsplashP&G’s (PG) volumes are down, and they’re not gaining traction and market share. Inflation is squeezing folk to death! Shelling out a premium price for toothpaste is rough sledding. My strong suspicion is this: algos noticed that P&G escaped a volatility band, making the stock technically “overbought”…The algos smelled blood! Check it out…There are virtually no green candles. The algos suck away all of the volatility! See how easy this trade is!Look: It’s not just P&G. I’m just scratching the surface. Algos are getting up to no good all around the stock market. I’m on a mission ...
Image Source: PixabayIn this video, Ira Epstein reviews the day’s trading in the gold and other relevant metal markets.Video Length: 00:10:36More By This Author:Metals Report For Friday, May 10SPDR ETF Report For Friday, May 10Financial Markets Report For Friday, May 10...
Image Source: Unsplash Global Macro and Markets Global Markets: US Treasury markets were unusually quiet on Monday, though with US PPI today and US CPI on Wednesday, that may not last long. The 10Y yield dropped just one basis point to 4.487%. 2Y yields were virtually unchanged. We’ve got Powell speaking today, along with Fed Governor, Lisa Cook. There are another nine Fed speakers slated for the rest of the week so it could get noisy. The USD is a little weaker after yesterday. EURUSD pushed up above 1.08 but has settled back to 1.0793 now. The G-10 currencies were a mixed bag. The AUD was little changed, sterling made some decent g...
Image Source: PexelsFair trading early in Monday’s session. All directions, up down, and sideways were met with equal enthusiasm. I’ve updated the labeling after today’s price action and discussed one possibility for a quick “downdraft” created by either PPI or CPI (Tuesday and Wednesday). Also, review resistance levels and the EW labeling for this week.Video Length: 00:18:22More By This Author:Weekly Technical Update S&P 500 – Friday, May 10S&P 500 & Nasdaq 100 Elliott Wave Update Nasdaq 100 & S&P 500 Elliott Wave Update – Wed, May 8...
Image Source: PixabayTM Editors’ note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.Sweden-based Elekta (EKTAF) develops, manufactures, and distributes treatment planning systems for neurosurgery and radiotherapy, including stereotactic radiosurgery and brachytherapy.The company’s installed base of more than 5,000 linear accelerators, GammaKnife, and Unity platforms, and software is used in more than 6,000 hospitals globally.The company’s sales are evenly distributed across geographies, with North and South America accounting for 29%; Europe, the...
Image Source: UnsplashFriday’s highs continue to play as a top but today’s losses didn’t undercut Friday’s lows, leaving things in a bit of a ‘No-Mans-Land’. The Nasdaq returned to a ‘buy’ trigger for On-Balance-Volume and kept its challenge of the ‘bull trap’ intact. This could still go either way.The Russell 2000 (IWM) has been running along the upper path of ‘bear’ flag resistance and the ‘black’ candlestick today piles on to the bearish ‘cloud cover’ from Friday. Another day’s worth of losses would drop it back inside the ‘bear fla...
Image Source: UnsplashMARKETSAsian stocks are poised for a cautious opening, mirroring the wary sentiment observed on Wall Street as investors brace for key U.S. inflation data. These forthcoming reports are anticipated to play a crucial role in shaping the outlook for Federal Reserve policy, contributing to the market’s cautious stance. Investors are particularly sensitive to this data, given its potential to influence interest rate decisions and broader market sentiment. As a result, market participants are likely to tread carefully, awaiting clearer signals from the inflation figures before making significant moves.As markets settle...
Image Source: Pixabay SPX Monitoring purposes; Long SPX 4/12/24 at 5123.41.Our Gain 1/1/23 to 12/31/23 SPX= 28.12%; SPX gain 23.38%Monitoring purposes GOLD: Long GDX on 10/9/20 at 40.78. SPY has been up 7 days up in a row; all were higher within 5 days. The second window up from the bottom is the VIX which was up today which suggests the SPY may see a mild consolidation short term. Page two shows that the weekly SPX/VIX ratio hit a new high before SPX. SPX/VIX ratio leads the SPX and suggests new highs are coming for the SPX. The April consolidation is over and a new uptrend has started. The second window up from the bottom is the weekly ...