The S&P broke out to a new all time high Wednesday on the back of a mostly inline April CPI Report. Here’s what Patrick Dunuwila of The Chart Report had to say: SPY broke out to a new all time…
The Roaring Kitty, the man behind the GameStop (GME) frenzy of 2021 returned out of the blue Sunday night tweeting the above meme at 5:00pm PST suggesting that the markets were once again engaging his attention. That has set off…
The S&P surged 64 points (1.26%) on Friday to 5,128 – right up to its 50 DMA (5,130). The 50 DMA continues to serve as resistance and the S&P continues to trade in a range (4950 – 5250) defined by…
During the three weeks from Friday March 29 through Friday April 19, the S&P dropped from 5,254 to 4,967 (287 points or 5.5%). When it rallied from Monday April 22 through this Monday April 29 to 5,116 (149 points) –…
The consensus narrative is that the correction over the last month has ended as the S&P has bounced starting last Monday. But the S&P has still failed to surmount its 50 DMA – and was rejected hard there in Tuesday’s…
As I suggested late afternoon last Thursday, the most likely scenario was for the S&P to gap up to near its 50 DMA in the wake of strong Google (GOOG) and Microsoft (MSFT) earnings and then trade sideways for the…
The S&P is currently in a range between 4950 and 5250. After blowout earnings from Google (GOOG/GOOGL) and excellent earnings from Microsoft (MSFT) Thursday afternoon, the market is going to gap up at Friday’s open. The question is: What happens…
Google (GOOG/GOOGL) just reported a blowout quarter after the market close Thursday. Revenue was +15%, Operating Margin surged to 31.6% from 25.0% a year ago and EPS of $1.89 is up 62% from the year ago period. These are massive…
The bear market rally which began on October 13, 2022 with an intraday low of 3,492 topped on March 28, 2024 with an intrday high of 5,265. From top to bottom the S&P rallied about 50%. It has been well…
Facebook (META) just reported an excellent 1Q24 – but the stock is off 12% in the after hours. Revenue was +27% and EPS +114% to $4.71 compared to the year ago quarter. Operating margin of 37.9% compares to 25.2% a…