Stock Market News 9-27-23
I’m going to say this time is different from 2022. One of the most interesting things about last year and the bear market was how orderly the down move was.
We barely saw any of the vicious types of bearish momentum typically associated when there’s talk of a recession, higher interest rates and the government stops supporting the market with liquidity.
And what we’re seeing recently. Since the recent FOMC announcement bearish energy candlesticks show big volume consecutive candles and they’re closing on the lows.
We’re not seeing those midday rallies that surprise everyone into lower conviction in the move down. An observation through experienced eyes everyone needs to pick up on.
Especially if you are the kind of person who doesn’t like to use a stop loss and you’re waiting for the market to bail you out.
Even with the amount of volatility we’ve had recently, the market hasn’t quite reached its bearish average true move to the downside. But we did approach minor support in the #SPY near the 124 level.
Futures are trading higher as of this moment with another 4 hours to go before the market opens. For me that means lowering my trailing stop loss on short sales.
And the only stocks I’ll be nibbling on the long side are those with bullish order flow. I won’t be looking to bottom pick a new swing trade. I’m seeing quite a few people on social media talk about buying the dip.
Trust me this isn’t a dip. A dip requires a bullish trend.
The only sectors worth watching right now are HEALTHCARE and ENERGY.
The Market 📈
Hello there, finance aficionados!
Welcome to today’s edition of Stocks For Breakfast…
First up, we’ve got the stock market making waves, and no, I’m not talking about the kind that leaves you seasick.
CNBC reports an active scene on the trading floor as the stock market sets to open higher. Will you be the one to harness a potential rally or will you be left in the dust? Stick around to find out!
Next, we’re jetting off to the world of black gold, where oil prices are scaling the heights as Cushing oil stocks are nearing historic lows. It’s a classic supply-demand drama unfolding right before our eyes, and we’ve got the front-row tickets!
Then we’re off to the land of bulk-buy bliss, Costco. Their latest quarterly results have just been unveiled, and there’s a lot more to it than just jumbo packs of toilet paper. We’ll be diving into the nitty-gritty details behind their numbers.
In the fast lane, we have Rivian and Fisker stocks revving up their engines. With optimistic delivery expectations, they’re ready to leave their competition in the rearview mirror.
Will they take the checkered flag or run out of gas? We’ve got the scoop!
And finally, we’re taking a trip to the housing market, where US prices have seen a rebound with solid gains in July and August. But is this a summer fling or a long-term love affair? We’ll look at the data and let you decide.
So buckle up, folks! We’ve got a thrilling ride through the finance world ahead. Whether you’re a seasoned investor or a curious novice, there’s something in this newsletter for everyone. Let’s get this show on the road!
News Insights 📰
Ever dreamt of owning a home that’s straight out of a magazine? Well, it might just be easier than you think. Discover the insider secrets to applying for an award-winning home loan and make that dream home a reality! Intrigued?
Picture this: retirement without the need to work for extra cash. Sounds like a dream, right? Well, financial experts say it’s entirely possible, and they’re sharing their top tips on how to make it happen. Ready to retire in style?
The tech world is buzzing with the latest face-off between Samsung and Hynix in South Korea. What’s at stake? Who’s got the upper hand? Get the inside scoop on this tech giants’ battle.
Ever wondered how Alex Hormozi built a $100M empire? One man spent 300 hours studying his methods and is ready to spill the beans. Get ready to be inspired and start bui lding your own empire! Let’s get started!
The FTC Thinks Amazon Is A Monopoly
Amazon is facing a big test. Accused of running an illegal monopoly, the tech giant is in the hot seat. What does this mean for the future of retail? Get the full story and decide for yourself.
Responses