I like it bull. Possible pull back soon or what? Lots going on. I posted my pics earlier on here and updated them. LYFT on a a support could be cheap to buy some more and hold long.
Not getting excited over this half percent dip in the spoos, but it’s a nice change if only for a day in the majors. And a really nice reversal off the opening AM highs. I know I’ve gone in great lengths mentioning this here in the past, but this year’s market generally speaking as a whole (for me personally), has been a little far too mundane. It’s been one of the most uninteresting markets in a long long time. Days like today are very refreshing to see, not to mention very healthy for the markets. I don’t know if we’ve reached some near term tops. But hearing about some of the big bears (not me lol) out there recently turning bullish could give reason for caution at these nosebleed levels. VIX also hitting pre-COVID levels again was a bit alarming to see. Let’s see how these next few weeks play out. Now that earnings season is just about concluded after NVDA reporting yesterday. Will be super nice to see some volatility creeping back in and a lasting dippage in the overall market. Perhaps we’ll also see a return of @Frankenstein here at some point as well. Missing his posts here bigly time. Next week is a holiday-shortened trade week with Memorial Day on Monday stateside. Hope y’all been well, it’s been a minute gang.
A hot PMI data this morning dragging down this market despite strong NVDA earnings Mixed economic signals lately, consumers and housing are seeing weakness but we are seeing strong PMI and jobs data. Anyway the economy and inflation probably are not slow enough yet for the FED to start cutting rates anytime soon
A report on consumer spending and inflation showed incomes aren't keeping up with prices, as consumers lost buying power in April. Consumer spending decelerated, suggesting people are cutting back as prices pressure household budgets. Businesses may become reluctant to raise prices, as their customers become more budget-conscious, economists said.
Consumers seem to be slowing down based on the recent data for sure, let's see if they are willing to use their credit cards more in the coming months
The market seems to be loving the mixed economic signals, we had a slightly weaker than expected ADP data but also a much stronger than expected ISM services data this morning
The Hindenburg Omen remains in focus as the S&P 500 stock index hovers near all-time highs. The indicator, named after the doomed German Hindenburg airship that caught fire and crashed in 1937, warns of indecision as measured by market breadth, often a characteristic of tops before market crashes. To help reduce false signals, the indicator's creator, James R. Miekka, suggested that investors should look for multiple signals in a relatively short period of time.
Quick update I need to use another account and routing number for Charles Swab to get money from bank account to Charles Swab. It's going to take me another full week to do. I won't be investing till next week. Market selling off anyways were at tops fed.
Getting BABA next week Monday or Tuesday. Quick update: Can't wait to invest next few days in BABA. Broke a major support here that's why sell off let it sell off and hit capitulation and get in. Home Stock Ideas Long Ideas Consumer Alibaba: Despite Some Issues, The Firm Remains An Appealing Opportunity Jun. 13, 2024 9:32 AM ETAlibaba Group Holding Limited (BABA) Stock, BABAF StockMSFT, AMZN, GOOG, GOOGL, MSFT:CA, AMZN:CA, GOOG:CA4 Comments Daniel Jones Investing Group Leader Summary Alibaba Group Holding Limited continues to grow at a decent pace, with key parts of the business performing well. The company's revenue for 2024 increased by 8.3% compared to the previous year, and most profit figures improved as well. Alibaba Group shares are cheap and likely offer some upside from here.
A bit of an unusual week upcoming this week with the market closure on hump day. Looks like absent something darting outta left field this could be the quietest week of the year with very little to no earnings and econ news. Basically entering the start of the summer doldrums period.
With inflation continuing to subside, nearly every major stock market index is at or near an all-time high.
Yep tomorrow is holiday and the retail sales data this morning probably was the biggest data of the week
