🚨 Urgent Update: GET READY TO BUY! Tech Sell OFF Begins! #marketcrash #marketupdate #techstocks
Summary
TLDRIn this market update, Car with Money Vest discusses the over $400 billion selloff leading with the NASDAQ, focusing on the 'Magnificent 7' stocks which lost over $300 billion. With the Jackson Hole Economic Symposium approaching and Jerome Powell's anticipated speech, the video unpacks market anticipations for a decisive end to an indecisive week. Car also shares his personal trading plans, including selling more puts on Nvidia ahead of its earnings, while providing a broader analysis of market trends and potential impacts on various tech stocks.
Takeaways
- 📉 The NASDAQ experienced a significant selloff with over $400 billion shed, leading a flat week for the markets.
- 👤 Jerome Powell's speech at the Jackson Hole economic Symposium is a pivotal event that could impact the market's direction.
- 📈 Despite the selloff, the S&P 500, Dow Jones, and NASDAQ are still within 2% of their all-time highs.
- 🔢 The 'Magnificent 7' stocks (Nvidia, Microsoft, Apple, Tesla, Alphabet, Meta, and Amazon) accounted for over $300 billion of the market's losses.
- 🗓️ Market anticipation is high for potential rate cuts, especially after the significant downward revision in job numbers reported by the BLS.
- 🤔 There's uncertainty regarding the market's reaction to Powell's speech, with historical data showing mixed outcomes.
- 📊 The VIX index, a measure of market volatility, has moved back to sub-20 levels, indicating lower perceived risk.
- 📉 Nvidia led the losses among the 'Magnificent 7' with a drop of over 3.7%, shedding over $17 billion.
- 📝 The speaker plans to sell more puts on Nvidia, anticipating earnings and a significant trade worth almost $70,000.
- 📅 The upcoming month of September is historically known for market pullbacks and higher volatility, with an average loss and median loss in the S&P 500 over the past years.
- 💡 The speaker emphasizes the importance of having cash reserves ('dry powder') for potential buying opportunities in the market.
Q & A
What significant event is happening at the Jackson Hole economic Symposium?
-Federal Reserve Chairman Jerome Powell is delivering a speech, which is expected to be a decisive factor for the markets.
What is the expected impact of Jerome Powell's speech on the market?
-The market anticipates potential volatility and clarity on the direction of interest rates, possibly signaling the start of rate cuts.
What was the market's performance like leading up to the NASDAQ's selloff?
-The market was flat for the week with strong performances on Monday and Tuesday, followed by a more subdued Wednesday and Thursday.
Which stocks were referred to as the 'Magnificent 7' and how did they perform?
-The 'Magnificent 7' refers to Nvidia, Microsoft, Apple, Tesla, Alphabet, Meta, and Amazon, all of which experienced significant selloffs.
What is the speaker's plan regarding Nvidia's stock?
-The speaker plans to sell more puts on Nvidia, with a significant trade worth almost $70,000, in anticipation of the company's earnings report.
What is the VIX index indicating about market sentiment?
-The VIX index moving back to sub-5 suggests that the market is less fearful and more complacent, which might indicate potential profit-taking.
What does the speaker suggest about the market's valuation?
-The speaker suggests that the market is on the expensive side, with the S&P 500's valuation at 22.73, which is in the 90th percentile.
What is the speaker's view on the upcoming market seasonality in September?
-The speaker expects market seasonality to play a role in September, which historically has been a month of higher volatility and potential market pullbacks.
What is the current state of the market in terms of the S&P 500 and NASDAQ?
-The S&P 500 and NASDAQ are both near their all-time highs, with the NASDAQ experiencing a dip after a strong rally.
What is the speaker's strategy for the next two weeks in the market?
-The speaker's strategy involves raising more cash to have a 20-25% cash level for buying power, anticipating potential opportunities due to market seasonality.
What is the significance of the put-call ratio mentioned in the script?
-The put-call ratio is an indicator of market sentiment. A rising ratio suggests that more investors are buying puts as a hedge against potential market downturns, indicating bearish sentiment.
What does the speaker expect from the Federal Reserve's interest rate policy?
-The speaker expects the Federal Reserve to be open to the idea of beginning rate cuts in September, influenced by recent economic data and revisions.
What is the current concentration of the market in terms of the top stocks?
-The top three stocks—Apple, Microsoft, and Nvidia—make up almost 20% of the S&P 500's weight, indicating a high concentration of market influence.
What is the speaker's view on the potential direction of technology and semiconductor stocks?
-The speaker suggests a defensive positioning in the market, with significant selloffs in technology and semiconductor stocks, indicating a potential shift to more stable sectors.
What is the speaker's outlook for the market after the Jackson Hole economic Symposium?
-The speaker anticipates that the market's direction will heavily depend on the outcomes of Jerome Powell's speech and the Federal Reserve's stance on interest rates.
Outlines
📉 Market Selloff and Anticipation for Jackson Hole Symposium
The script discusses a significant market selloff, particularly in the NASDAQ, leading to a loss of over $400 billion. It emphasizes the 'Magnificent 7' stocks, including Nvidia, Microsoft, Apple, Tesla, Alphabet, Meta, and Amazon, which contributed to over $300 billion of the selloff. The video is set against the backdrop of the Jackson Hole Economic Symposium, where Federal Reserve Chairman Jerome Powell's speech is expected to be a decisive factor for the market's direction. The speaker plans to cover Powell's speech live and encourages viewers to share their expectations for the market in the comments section. The speaker also mentions their personal trading strategy involving selling puts on Nvidia ahead of its earnings report.
📈 Market Overview and Expectations from Jerome Powell's Speech
This paragraph provides an overview of the market's state, highlighting the selloff of the 'Magnificent Seven' stocks and the broader market's defensive positioning. It discusses the anticipation for Jerome Powell's speech at the Jackson Hole Economic Symposium, suggesting that the speech could indicate the start of interest rate cuts in September. The speaker also mentions the importance of subscribing to their channel for updates and provides a brief on the market's performance in relation to the 'Magnificent Seven' stocks. Additionally, there's mention of the potential for increased market volatility due to the U.S. election and the suggestion for investors to buy protection against it.
📊 Market Metrics and September Seasonality
The speaker delves into specific market metrics, such as the Money Vest Index, VIX readings, and stock trading levels above moving averages, to provide a comprehensive market analysis. They discuss the concentration of the market cap within the top stocks of the S&P 500 and the potential implications of this concentration. The paragraph also touches on the historical performance of the market in September, noting the tendency for higher volatility and market pullbacks during this month. The speaker reminds viewers of the upcoming September and its potential impact on the current market trends.
📉 Technical Analysis and Stock Performance
This section offers a technical analysis of various stocks, including Apple, Amazon, Tesla, Nvidia, and others, highlighting their current market performance and potential future movements. The speaker discusses support and resistance levels, RSI, MACD, and L3 Banker oscillators to predict possible pullbacks or continuations of rallies. They also mention their personal trading strategy involving selling puts on Tesla and Nvidia, indicating a belief in potential market corrections.
📊 Further Technical Analysis and Market Sentiment
Continuing the technical analysis, the speaker provides insights into the performance of stocks like AMD, PayPal, Visa, Meta Platforms, Netflix, Google, Microsoft, and Costco. They discuss the overbought conditions and potential resistance levels for these stocks, suggesting that some may experience pullbacks or corrections. The speaker also comments on the market sentiment, noting the potential for a defensive market stance and the importance of watching for support and resistance levels.
📈 Closing Remarks and Community Invitation
In the closing paragraph, the speaker summarizes the day's market activity and reiterates the significance of Jerome Powell's upcoming speech. They invite viewers to join their live coverage of the event and to share the video with others who might be interested. The speaker also promotes their Money Vest Community, offering a discount for those interested in joining, and emphasizes the benefits of community access, including trade alerts, ideas, and research analysis.
Mindmap
Keywords
💡NASDAQ
💡Selloff
💡Jerome Powell
💡Market Update
💡Earnings
💡Volatility
💡S&P 500
💡Dow Jones
💡Magnificent 7
💡Interest Rates
💡Contango
💡RSI (Relative Strength Index)
Highlights
Over $400 billion selloff on the NASDAQ, with the 'Magnificent 7' stocks shedding off over 300 billion.
Markets are flat for the week so far, with a strong start followed by a slight downturn.
NASDAQ aggressively sold off, down over 1.67%, with a consistent downtrend throughout the day.
S&P 500 and Dow Jones also down, with the S&P 500 dropping almost 90 basis points.
Tomorrow's Jackson Hole economic Symposium and Jerome Powell's speech are pivotal, with potential market impacts.
The speaker plans to sell more puts on Nvidia, with a significant trade worth almost $70,000.
Spreadsheet tracking shows over $431 billion sell-off across all S&P 500 companies.
Nvidia led the losses, down over 3.7% with a $17 billion selloff.
Risk-reward has tilted unfavorably, suggesting caution and potential profit-taking.
Markets have moved up over 9% since August, indicating a need for careful positioning.
The speaker's game plan for the next two weeks includes raising cash for potential market opportunities.
Historical data suggests September could see market pullbacks and higher volatility.
Investors are advised to buy protection against further volatility due to election uncertainty.
Markets are pricing in a 100 basis point cut in 2024 and an additional cut in 2025.
The speaker's valuation analysis indicates the market is within 2% of all-time highs.
Concentration levels show the 'Big 3' and 'Magnificent 7' stocks have significant weight in S&P 500.
Technical analysis suggests potential pullbacks for various stocks, including Apple, Amazon, and Nvidia.
PayPal has outperformed the market, with a 21% increase since the end of July.
The speaker will provide live coverage of Jerome Powell's speech and its market implications.
Transcripts
what's up everyone it's car with money
vest so with over $400 billion selloff
on the day today leading with the NASDAQ
here magnificent 7 stocks shedding off
over 300 billion with tomorrow Jackson
Hole economic Symposium and J Powell
talking have' got lots to unpack in this
market update and for us to get ready
for what is going to be quite a decisive
end to a very indecisive week so far
because the markets are basically flat
on the week so far Monday Tuesday was
very strong Wednesday Thursday a little
bit more flat to slightly down with the
NASDAQ of course selling off quite
aggressively all the day today down over
1.67% consistent downtrend throughout
the course of the day of lower highs and
lower lows of course we had the S&P 500
also down almost 90 basis points with a
Dow Jones over 43 basis points lower or
almost 200 points on the day so we got
lots to unpack and it's really going to
come down to this man and this man alone
for tomorrow at 10:00 a.m. eastern
that's when he's going to start
addressing at the Jackson Hall economic
Symposium and I will be live to cover
the entire speech so make sure that you
tune in at 9:30 pretty much actually a
little bit earlier because we're going
to be live during Market open and then
we're going to go all the way through to
Jackson Hall economic Symposium from
Jerome Powell's press conference at
10:00 a.m. eastern so get ready and let
me know in the comments section down
below what are you expecting for
tomorrow from the markets red or green
what what are your bets for tomorrow I'm
actually planning on selling more puts
on Nvidia actually sold one today and my
plan is to sell five to as many as six
more puts for next week because we do
have earnings coming out for NVIDIA so
it's a pretty big trade that I am taking
worth almost $70,000 so I'll keep
everybody updated on our Discord so
let's get started here this is the
entire sell-off of all the S&P 500
companies on the day over $431 billion
sell off this is a spreadsheet that's
tracking the market caps for all the5
companies in the S&P 500 and if you come
over to our first spreadsheet this $326
billion is for the Magnificent s
companies as you'll notice these are the
seven Nvidia Microsoft Apple Tesla
alphabet meta and Amazon and all of them
selling off quite aggressively with the
exception of actually uh yeah all of
them they were all seven down on the day
with Nvidia of course losing the most
down over 3.7% over $17 billion selloff
63 billion coming off of Microsoft Apple
with a 28 billion then we had um Tesla
shedding over 40 billion another $41
billion coming from Amazon meta and
alphabet were down 8 billion and $26
billion
respectively so again quite an
aggressive selloff this right here is my
yesterday's update uh where I also
mentioned in our Discord I sent out an
update with the U entire video link as
well I basically mentioned that all
right folks the risk reward is
officially tilted back to being a very
unfavorable want to be very clear that
it's not to say that there isn't
anything worth buying or no cash worth
deploying but the markets have moved up
over 9% since the Monday's low from back
in August 5th so a couple Mondays ago
and vix has now moved back to sub5 of
course this was yesterday and we need to
be more careful here considering that
some some profit taking is possible and
I think that's what today was really
like there was a little bit of profit
taking ahead of nvidia's earnings and
tomorrow's Jackson Hole economic
Symposium but there is a game plan and
my game plan for the next two weeks as
I've already mentioned is raising a
little bit more cash getting up to that
20 25% level again to have some buying
power some dry powder ready for if and
when we actually see that market
seasonality once again play through in
the month of September which we'll talk
about in just a minute now coming over
to this spreadsheet this is the Jackson
Hole economic Symposium Playbook and on
the day as you'll notice the markets
were down about 89% so we were down a
little bit over you know 0.89 on the day
so let me just go ahead and put that as
a minus sign there we go and that was
one day prior and tomorrow we'll see
what that number looks like over here
for When J Powell is talking last year
on the day of we were up over half a
percent but we were down over 1.3% one
day prior to Jerome Powell's speech in
2022 1.4% Higher One Day prior to J
Powell's speech and then down over 3.3%
on the day of J Powell's speech speech
however we already have a little bit of
an idea and an understanding on what
exactly he's going to be talking about
again very very data-driven approach
very much optimistic about a potential
rate cut especially after the huge
revision that we saw from the jobs
report from the BLS yesterday of over
88,000 jobs just pretty much
disappearing in the last one year and
going from 2.9 Million jobs last year to
2.1 million with an average monthly job
gain of about 175,000 from the original
uh 240,000 something jobs gain we have
dropped significantly so my expectation
from Powell tomorrow is really going to
be some type of doish and open to the
idea that September is indeed going to
be the month where they actually begin
rate Cuts so this right here 10: a.m.
eastern it's going to be the speech from
chairman Jerome Powell I will be live
like I said again tomorrow Friday 823
August 23rd economic Outlook at the 2024
Jacksonville economic Symposium in
Wyoming so very very important day make
sure that you mark your calendars and
don't miss out and tune in on that live
stream now all also make sure that you
subscribe share this video because it's
going to be a bit of a longer update all
I'm asking is that you drop a like And
subscribe to the channel we're almost at
82,000 subscribers I would really really
appreciate that and again this right
here was the state of the market all
Magnificent Seven stocks selling off
shedding over 326 billion we also did
have a pretty significant sell off in
semiconductors if you take a look intel
was down over 6% uh quite an interesting
sell off then we had uh you know on
semiconductors down over 4.3 lamb
research down over 4.3 Amat Applied
Materials down over 4% AMD was down
almost 4% so asml uh also selling off a
little bit over 3.8 so there was blood
bath across the board for technology and
for semiconductors and pretty much the
entire Market with a little bit of
defensive positioning here from the
markets as well so again this right here
is the extended hours I also want to
mention that we have two more spots left
if you are interested in joining our
money vest Community Link is going to be
down below this is all everything that
you get access to the money vest Discord
the money money money vest website as
well as engaging and and uh interacting
with over 1,000 investors and Traders
along with all of my trade alerts
investing alerts alerts also included so
links going to be down below love to
have you on board there is a 16% annual
discount as well so moving over the
so-called magnificent 7 Mega cap growth
stocks weighed heaviest on the tech
NASDAQ and there doesn't appear to be
any kind of a clear Catalyst as to
what's driving this sell off this was
Scott Ladner Chief investment officer at
Horizon Investments people may be trying
to square positions a little bit ahead
of Nvidia next week or risk out ahead of
us Federal Reserve chairman Jerome
Powell's Jackson Hall economic speech
here and this is everything to expect
from fed share Pal's speech on Friday
and this was from Lou Crandall and a
former fed official and now Chief
Economist at Washington icap he says and
I quote stop me if you've heard this
before they're still data dependent a
dealer broker where they've work for
more than 40 years he expects Powell to
be directionally
unambiguous and uh specifics about how
fast and exactly when will depend on the
data between now and the meeting little
doubt that they will start cutting in
September so uh so that's what that's
what he expects from Geral Powell and
again like I said very very similar to
what we've already learned from previous
fomc meetings so it may or may not be a
market moving event but still the
markets are really anticipating on
potentially higher volatility going into
tomorrow's numbers and volatility
speaking of is set to return amid us
election uncertainty as well so
investors should buy protection now as
volatility seen in August is likely to
return amid closely contested us
election race according to to report
released Tuesday by BCA research
investors should buy protection against
further volatility the shakeup in early
August was a taste of things to come so
this right here is where the
expectations are from the market with
regards to interest rates uh we're still
packed for a 75% probability for a 25
basis point cut in September so
September 18th is when the next meeting
is and then November the markets are
pricing for another uh 25 basis points
um and then of course a 50 basis point
points cut coming in December so all in
all markets are pricing in for a full
100 basis point cut um in 2024 and then
additional 100 bis point cut in 2025
that's what the markets are pricing in
in my opinion that is well I guess there
was it was optimistic prior to the jobs
revision uh I feel like now it's a
little bit more of an appropriate
expectation that unemployment rate is
accelerating higher and it's potentially
going to get worse if rates don't come
down fast enough so in my opinion I
think rates are headed lower we just
still don't know to what extent and by
how much now let me just move over to
some spreadsheets because I think that's
going to be far more important at the
moment so this is where we are with the
current state of the market we're still
well within 2% of its all-time highs for
the S&P 500 so again even after today's
selloff we are well within range of
all-time highs here the Dow Jones also
less than 2% NASDAQ was very much in a
dip up until today when it dropped over
1.6% so we're back in a pullback down
over 5 67% and the Russell 2000 still in
a bit of a correction down over 12 1.5%
from its all-time highs now coming over
to the streaks we have now finally of
course Broken the streak uh we broke the
streak on August 20th when the markets
were down about 20 basis points
yesterday we were up 42 basis points and
on the day today down almost 90 basis
points so once again three back-to-back
flips here from the markets from red
green and now back to red and this right
here is the money vest dashboard which
you guys are so much waiting for 3.84 is
where we are for the money vest index uh
we were as much as 3.96 the prior
reading was 3.96 so very close to four
the vix reading at 17 a half so of
course putting us at almost 50th
percentile again 12.2% is the contango
level we got 71% stocks trading above
their 50-day moving average and about
74% of stocks trading above their 200
moving average the put call ratio is
creeping up something that really want
to address here because we were down to
as low as 7 now we're back up to 0.9 if
this number is going crosses over one uh
we would be you know having we would
have more puts than calls on the market
and that's just the Market's way of
telling us that they are expecting more
potential downside why because they're
hedging with puts to protect against
that downside so right now we're 092 but
we're edging up closer and closer to one
and potentially even higher one is going
to put us at the 60th percentile and
that's going to turn green it's going to
be one of our first metrics to turn
green from a signal standpoint uh just a
little bit under 58 RSI so we're in the
60th percentile for this as well so
we're still more unfavorable on the risk
reward trade-off here so there are no
aggressive buy signals just triggering
off as of yet now coming over to some of
the other readings so if you take a look
at the market so S&P 500 closing in at
5570 so if I plug in that number 5570
our valuation right now is
22.73 based on an earnings multiple or
earnings per share of $245 in
2024 so that puts us at 22.73 and you
know this has been a very very strong
recovery for the market we are now in
the 90th percentile once again which our
meter tells us we are a little bit more
on the expensive side right so the
closer we get to uh 22 23 24 25 uh the
higher of course valuation is going to
be and the more expensive we are from a
fundamental standpoint this is more of a
valuation SL fundamental metric for the
market so that's where we are giving you
a little bit of an overview of this this
metric um now a few more things that I
wanted to address um was it this
spreadsheet yes so this right here is
also the concentration for the market
right so we've got the big three the Mac
7 and the top 10 big three as I'm sure
you know it's Microsoft Nvidia and Apple
Mac 7 is the Magnificent 7 and the top
10 also includes for Berkshire hathway
broadcom um and then just one more
company which I forgot what it was it's
Eli Lily so these are the 10 stocks that
kind of make up the top 10 uh for market
cap for S&P 500 and these are the levels
of concentration so you'll notice a big
3 which is Apple Microsoft and Nvidia
make up for almost 20% right of the S&P
500 so that's just a little bit over
half a% of the S&P 500 makes up for 19%
of the S&P 500 in terms of its
concentration in terms of its weight
magnificent 7 which is just over 1.4% of
S&P 500 makes up for over 31% of the
weight so a third of the S&P 500's
weight is getting pulled by magnificent
7 so again Tech leadership is very very
high and then if you count for top 10
here include for the other three
companies and now we're looking at 35%
concentration this numbers I believe was
down to as well as 28 29% as the tech
continued to sell off in the last couple
weeks but then of course as we have
recovered back up it's back over 30% um
as as we're pretty much you know trading
well within Striking Distance of its
all-time highs okay now coming over to
the markets here before we get further
just want to quickly go over this entire
presentation so again coming over to
this this was the selloff Nvidia over
3.7 Tesla Amazon Google Apple meta
everything selling off so a little bit
of liquidity coming out of Technology
out of semis out of software out of
cloud over to other parts of the market
so once again this is just the Market's
way of telling us that we are getting
defensive this is markets getting
defensive at the moment uh this right
here again is the entire market so if
you come over got cyclicals technology
and com Services three of the big
sectors where Apple Amazon all the
Magnificent 7 pretty much lives selling
off quite aggressively anywhere from 1
to as much as 2% in the last last one
week energy has been the biggest lagard
down over 1.7% however on the day
Market's positioning definitely shifted
back to being more defensive Bitcoin
just a little bit over 60,000 and ether
just over 2600 as well so tomorrow is
going to be quite an interesting day and
finally of course jobless claims also
came out at 232,000 which was 4,000
higher week over week but still a really
really low number at the moment is what
we are seeing uh also do remember
September is right around the corner so
just a couple weeks left for September
to again and this is a chart showing us
all the September going back as far as
2011 uh with an average loss of almost
2% median loss of over 1 and a half% and
the probability for us to see a loss
over
61% here for uh for September and this
is volatility on average volatility has
spent months of September going back as
far as 2011 so 12 13 years worth of data
at almost 25 with a median vix value
over 20 September historically has been
a higher volatility month and also a
month where we have seen the markets
pull back this is just going back as far
as 12 years um and again 53% of the
times it has spent above 20 so again
those are some things those are some
stats for you some food for thought uh
okay coming over to volatility again
down up almost 8% we're kind of creeping
up to as much as 18.6 to as much as 20
so keep a close eye on those levels
we'll continue to watch this very
carefully and we'll send out alerts in
our Discord when there is opportunities
to deploy cash again and when there are
opportunities where the risk reward is
once again becoming more favorable for
us um the money vest index we've already
gone over but like I said this reading
will get updated it was at 3.96 as of
yesterday and crude oil prices continue
to come down at a very strong support
sitting roughly at just under
$73 and that right there is going to be
that level to watch for crude sitting
inside this area of area of rectangle
and of course that area of support at
the moment um and then coming over to
the market so this right here is qq's
now I want to be very clear that we're
well within the trend uh because we
haven't really broken down below this
474 support So speaking of the
technicals uh what you'll notice is this
consistent draw down right so this right
here lower highs and lower lows for the
market we got up to this lower high and
then of course broke out very very
nicely and now we're only seeing a
little bit of a pullback right so if I
just remove everything and just point
out to a small pullback that we're
seeing a small dip that's what that is
after a very very strong consistent
Rally from the nasda St so this is
nothing to be afraid of this is just a
healthy pullback healthy dip is what we
really wanted to see and we're coming
back down to 474 475 as you can see that
after hours we're back over 475 and that
is that area of support that's the green
rectangle that I really want you to
focus on because that is the area of
support and demand for the NASDAQ same
thing is true for the S&P 500 you can
see how perfectly it is just validating
that level so we pushed up and we came
back down to validate this green
rectangle that's where the area of
support or the demand sets for S&P 500
so if I zoom in just a little bit after
of course having such a significant
rally we gapped up a little bit and
dropped over 1.3% intraday coming down
to once again a very very strong area of
support and demand for the market so
tomorrow is going to be the breaking
point tomorrow is the test for the Bulls
whether they can hold this support
whether we can actually see that
validation of that support at 5565 or if
the Bears have the strength to break us
down this level once again and for this
support to once again turn into a bit of
a resistance for the markets again so
again tomorrow we'll find out if that's
going to take place but as it stands
right now very strong support we're
coming back to retest I mean if you come
back take a look this is the exact level
where we have gotten rejected right this
is a level that S&P 500 struggled to
break out of over here back in July this
right here back in at the end of July so
we struggled to break out of that level
and then once we finally did we're
simply coming back to validate this old
resistance as a potential new support so
tomorrow we'll find out if this level is
indeed going to be a support or if the
Bears have enough momentum to the
downside that can really flood us below
that 5565 levels we're like kind of like
five points away but tomorrow's Jerome
Powell speech can really be a big big
big wild card for the market uh coming
over to Apple stock so Apple here uh on
the day uh down a little bit over 83
basis point
why do I feel like I'm missing something
why do I feel like I have a lot of
spreadsheets open and I had something
that I wanted to show you guys uh let me
see streaks not quite there's we've
already gone over the stats let me just
see this we've already gone over I just
want to make sure that I'm not missing
out anything valuations we've covered
this is the market sentiment this is
right here volatility S&P 500 in
September seasonality jobless claims
Market concentrations so I feel like
we've covered everything I feel like we
have um but I don't know why I feel like
I'm missing something anyway if there's
anything I'll comment down below Apple
here a resistance at $236 that is going
to be that next Target as we have
discussed but we are again kind of
pushing higher a little bit more to the
overbought side especially on the 4-Hour
chart if you come take a look again
we're starting to round off a little bit
after this significant rally with the
RSI the magt and the L3 Banker
oscillator all perfectly positioned for
us to see a bit of a pullback and
support level next is going to stay put
down to $27 uh to as low as $196 for
apple as well uh coming over to Amazon
so Amazon here on the day also down a
little bit over 2.2% so definitely
selling off quite aggressively next
support is going to be down to
173 for Amazon with a resistance all the
way up to as much as19 to as much as
$190 for Amazon if you do end up let's
say breaking down below this level next
Target is going to be $166 but same
story on the RSI macd L3 bank or
oscillator everything suggesting for a
bit of a uh correction bit of a small
dip I should say uh that possible after
seeing a very incredible rally for
Amazon so next support is really going
to be down at 173 Tesla getting
absolutely sold off aggressively here
down over
5.6% um and you know as we discussed in
our previous updates that Tesla is well
within its downtrend uh making lower
highs and lower lows so this right here
lower highs lower highs lower highs and
then lower lows lower lows lower lows so
we still well within a downtrend where
Tesla is going to find a very difficult
time breaking out of its certain
resistance levels because we've got so
much Supply we got a huge resistance
sitting right here at 233 massive Supply
sitting at 268 and of course not to
mention a lot of supplies sitting in the
300s and 400s but we've got way way much
time a lot of time to get up to those
levels but at first we're still well
within this downtrend of lower highs and
lower lows and Tesla continues to appear
very very weak at the moment so support
level near term is going to stay put
down to $28 a share for this company
that's exactly one of the reasons why
I've sold coils that are going to print
if Tesla does pull back uh next one on
the list is going to be my big trade for
next week and that is NVIDIA I was
watching this stock very closely today
uh down a little bit over 3.7% for the
right reasons considering how much it's
rallied I think over 40% from its uh
Monday August 5th close 43% uh and it's
now starting to roll over a little bit
again RSI magd L3 Banker oscillator all
suggesting for a potential dip in Nvidia
considering how overbought it was and uh
resistance all the way up to as much as
$ 3940 that's pretty much the all-time
high and support level down to as low as
$96 per share for NVIDIA so that's going
to be that level to keep in mind for
this stock Advan Micro Devices also
rolling over on the day so selling off a
little bit over 3.8% so this right here
is the entire technicals again we broke
out of that resistance coming back to
retest old resistance as a new support
so this is the inside of this green
rectangle or that support uh where it's
coming back down to retest that level
again and resistance is going to be all
the way up to
$185 for Vance Micro Devices as well uh
talking a little bit about PayPal and
PayPal Here continues to do really well
I mean it it's kind of outperformed the
market so I'm happy PayPal has been
outperforming the market so if you come
over to PayPal versus spy not only is it
hitting a 52- we high it's also beating
the S&P 500 take that S&P 500 I mean
this right here is in significant
outperformance of 21% since the end of
July that's actually quite a decent
significant I would say out performance
on PayPal's side with respect to S&P 500
so next Target is going to be at
$677 so this right here is going to be
that next level to watch as a Target
however we are incredibly overbought as
you can see the RSI the mcti the L3
Banker oscillators so similar to S&P and
Nvidia and some of the other companies I
wouldn't be surprised if PayPal also
takes a little bit of a breather right
so comes down uh where the support is
going to stay up at $68 so wouldn't be
surprised to for it to see it come down
and then of course get up to that next
Le level in that next leg up rally here
to $77 that's pretty much going to be my
expectations of the technicals and how
they play out moving forward talking
about Visa still well within a downtrend
so lower highs and lower lows in fact
it's coming up to its lower high over
here uh it's starting to break out of
above its resistance and support level
is going to stay up to
$266 uh but still well within range of
its downtrending channel so this right
here uh consistent lower highs and lower
lows for Visa so next resistance and
Target very very important at $272 for
Visa moving forward talking a little bit
about uh meta platforms and meta here on
the day actually hit a new all-time high
of over $544 but then of course sold off
intraday 60 basis points lower as it
gotten up to its Supply and that
resistance and again bit more on the
overb side as mentioned to us uh in our
previous videos RSI magt L3 Banker
oscillator everything uh getting up to
those levels here and resistance like I
said it's going to stay up at540 support
level down to $450 wouldn't be surprised
to see a little bit of red in meta
platforms as well uh Netflix on the
other hand also hit a new alltime high I
think yesterday uh just down to
$688 um at the moment and this right
here is what Netflix looks like it seems
like I'm having some trouble with my
network there's some Wi-Fi issues here
uh but Netflix $688 $689 so down a
little bit over 1%
and again we discussed how it's getting
up to its resistance it was incredibly
overbought so would not be surprised to
see a little bit of a pullback for
Netflix as well moving forward and then
finally Google and Microsoft I'm just
going to wait a couple minutes if this
thing improves I will open up the charts
but Google and Microsoft also down
anywhere from 1 to 2% respectively and
uh you know I've been picking up both of
those stocks here um because they
haven't really moved all that much right
in the last couple weeks here since
since the Monday August 5th lows Google
and Microsoft were still only up like
High single digits they didn't even
crack above the 10% level um okay take a
look at Netflix here looks like the
Wi-Fi is back so let's see there we go
and resistance as we discussed at $71
again RSI macd L3 Banker oscillator all
of them suggesting for a little bit of a
pullback for Netflix uh and then finally
if you come over to Google uh down a
little bit over 1% so again starting to
sell off trading at support it does sort
of feel a little bit like a bare flag
wouldn't wouldn't surprise me if you do
see a bigger selloff for gole Google as
this could be the poll a flag and and
and a bigger selloff or breakdown uh
getting us down to $153 so that right
there is going to be that next support
level to watch for Google moving forward
and I believe the same could be true for
Microsoft however this is more of a head
and shoulders not so much of a bare flag
breakdown but more like a potential left
shoulder a bigger head and then another
right shoulder with a neckline sitting
right there so a breakdown below that
$390 sub $400 level is possible for
Microsoft um as well and then finally we
come over to end phase which was down a
little bit over 2% on the day so selling
off actually over 3% down at $215 uh and
again this is a stock that's been
consolidating sideways for a really
really long time as you can see that
it's just been trading back and forth in
that range for a really really long time
so resistance is going to stay put right
there at $120 with all the way up to 136
bucks and a support level sitting
roughly $92 a share and then finally if
you come over to Costco pretty much
trading at all-time highs so this right
here very very strong area of resistance
for Costco and uh you know very very
flat and the RSI the magd also
potentially suggesting for a small
pullback possible for Costco but it does
trade at very expensive valuations to
begin with so hope you all enjoy this
video get ready for tomorrow very very
big day we got J Powell on the
microphone and uh I'm sure there's going
to be volatility but we'll be live to
cover all of this on Friday August 23rd
tomorrow at 10: a.m. eastern so tune in
call your friends call your family
members other Traders investors who
might be interested in joining us and
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investing I'll see you all in the next
video
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TOMORROW Will Be The Biggest Day Of The Week
THE BIGGEST 2 WEEKS OF THE ENTIRE YEAR
🔥 WARNING FOR TOMORROW!! TSLA, SPY, QQQ, AAPL, NVDA, COIN, BTC, META, MSFT, & AMZN PREDICTIONS! 🚀
Bitcoin Holders...Prepare for This
" Today Reliance AGM & NVIDIA down 6.5%" Pre-Market Report , Nifty & Bank Nifty 29 Aug 2024 Range
劇的な金利高。6月利下げはないかも(4月1日 #PAN米国株)
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