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The Next Bull Market
Check out what is moving the markets
Hey, Extra Guac-ers ๐ฅ What a wild end to the week! The stock market is on a mission, and we have the latest updates so you donโt miss out๐
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๐ฅ The Next Bull Marketย - Check out what is moving the markets
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๐ฅ The Next Bull Market
Dow's Big Jump: The Dow Jones surged over 500 points as investors bet on the end of the Fed's rate hikes. The Nasdaq and S&P 500 also closed higher, with gains around 1.8% and 1.9%, respectively. This rally followed the Fed's decision to hold interest rates steady. Traders are now 85% confident there will be no more rate hikes this year. ๐๐
Earnings Highlights: Apple's quarterly report was the center of attention, with Starbucks and Shopify also making waves. Starbucks soared nearly 10% after beating revenue and earnings estimates, while Shopify's shares jumped over 20% thanks to its return to profit. Investors are closely watching these reports for insights into consumer spending and tech performance. ๐โ๏ธ๐ป
American Airlines' Turbulence: American Airlines' stock has plummeted by about 90%, with its market capitalization dropping to $7.1 billion. This stark decline is largely due to soaring debts and investor pessimism. Interestingly, despite the size and scope of its operations, American Airlines' valuation lags significantly behind its peers. The stock market slump for major airlines indicates investors are bracing for lower earnings in the coming years. โ๏ธ
๐ Weekly Recap: The stock market has shown no weakness the past week, pushing to new highs! The last ten days have proved to be one of the most epic rallies in history. While the open gaps below are a reason to worry about a pullback, all lights are flashing green for continuation.
โ Daily RSI under 61
โ Weekly RIS 56
โ Fear greed index at 40
โ 3% till high of the year
โ 6% till all-time highs
๐Short-Term Levels:
442-444 - major resistance zone with sellers
431-432 and 423-426- Open daily gaps from the past week
Top Chart of the Week | CCJ โก
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