🔥 HUGE DATA TOMORROW!!! SPY, TSLA, NVDA, AAPL, QQQ, AMD, META, AMZN, COIN, BTC, & VIX PREDICTIONS! 🚀

Summary

In this financial analysis video, Ray J discusses the market's response to economic data, focusing on the upcoming release of core PCE data and its potential impact on indices, ETFs, and equities. He emphasizes the importance of the Federal Reserve's prioritization of PCE over CPI and provides technical analysis for various stocks and cryptocurrencies, suggesting a bullish market trend contingent on the data's alignment with expectations.

Takeaways

• 📈 Ray J discusses various stock tickers and market indicators, emphasizing the importance of the upcoming economic calendar and data releases.
• 🚨 He warns viewers that he is not a financial planner and advises them to check the Weeble link in the description for potential investment opportunities.
• 📅 Ray J highlights that Friday, June 28th, 2024, will be a significant day for the market due to the release of core PCE data, which is closely watched by the Federal Reserve.
• 📊 He provides expected figures for the PCE data, suggesting that the market will react strongly depending on whether the data meets, exceeds, or falls short of these expectations.
• 🔍 Ray J compares PCE and CPI data, noting their historical correlation and the potential implications for the market based on the recent CPI data.
• 🤔 He speculates on the possible market movements in response to the PCE data, considering both the bullish and bearish scenarios.
• 📊 The script includes technical analysis for specific stocks and ETFs, such as SPY, NVIDIA, Bitcoin, Tesla, and QQQ, discussing potential support and resistance levels.
• 📉 Ray J mentions the potential impact of earnings announcements, like Nike's, on stock prices and how they can affect market sentiment.
• 📝 He stresses the importance of being open-minded and not solely relying on technical analysis, especially with significant economic data releases on the horizon.
• 📈 The video script concludes with a general bullish outlook on the market, based on technical indicators, but Ray J cautions that the actual market direction will depend on the PCE data and other economic factors.

Q & A

What is the main focus of Ray J's video?

The main focus of Ray J's video is to analyze and discuss the potential market movements and economic data, specifically the PCE data, and its impact on various stocks and ETFs.

Why is the PCE data release significant according to Ray J?

The PCE data release is significant because the Federal Reserve prioritizes PCE over CPI for interest rate projections and economic research, which can greatly affect the markets.

What is the expected PCE data for month over month and year-over-year according to Ray J?

Ray J expects the PCE data for month over month to be between 0 to 0.1% for both all items and core PCE. For year-over-year, he expects 2.6% to 2.7% for core PCE.

What is the relationship between PCE and CPI according to the video?

According to the video, PCE and CPI are heavily related as they are both measures of inflation and have historically run together, showing similar trends.

How does Ray J suggest the market might react to the PCE data?

Ray J suggests that if the PCE data aligns with or is below expectations, it could be positive for the markets. However, he also mentions that the market's reaction will depend on the actual data released.

What is the potential impact of the PCE data on individual stocks like Tesla and NVIDIA according to Ray J?

Ray J believes that if the PCE data is decent, stocks like Tesla might push into higher levels, while NVIDIA might need to break certain resistance levels to turn bullish.

What is the 'max pain' and 'put-call ratio' mentioned by Ray J in the context of options expiring?

The 'max pain' is the price at which the most options contracts would be in-the-money, and the 'put-call ratio' is the ratio of the number of put options to call options, indicating market sentiment. Ray J mentions these as factors to consider for market movement.

What is Ray J's view on the technical analysis of the S&P 500 (SPY)?

Ray J sees a bullish pattern on the 4-hour chart of SPY, with an accumulation structure and an inverse head and shoulders pattern, suggesting a potential upside move.

What does Ray J suggest about the potential market movement based on the correlation between PCE and CPI?

Ray J suggests that since the CPI data for May showed a decrease, there is a good chance that the PCE data, which is released for the same month, might also show a decrease, indicating improving inflation numbers.

What is the importance of the Michigan consumer sentiment report and Bowman's speech mentioned by Ray J?

The Michigan consumer sentiment report and Bowman's speech are important as they can cause market volatility and influence investor sentiment, especially since Bowman is known for being hawkish.

How does Ray J approach the analysis of Bitcoin's potential movement?

Ray J analyzes Bitcoin's potential movement by looking at its recent dip, the retest of the 20 MAA, and the key Fibonacci retracement area, suggesting that the trend might be shifting and there could be a potential bounce.