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 The stock market closed at record highs again on Tuesday as upbeat earnings and better-than-expected economic news helped sentiment. Consumer confidence rebounded 4 points to 113.8 in October while new home sales jumped 14%. Alphabet (GOOG), Nvidia (NVDA) and Microsoft (MSFT) gave a boost to Tech stocks after rallying on good numbers. Meanwhile, volatility was up despite the bullish session but held fresh resistance levels. The S&P 500 ended at 4,574 (+0.2%) after trading to a lifetime high of 4,598. Unchartered territory and lower resistance at 4,575-4,600 was cleared but held by a smidge. A close above the latter would signal additional strength towards 4,625-4,650. The Nasdaq made a run to 15,384 while finishing at 15,235 (+0.1%). Prior and lower resistance at 15,250-15,400 was breached but held. A close above the latter and the record peak at 15,403 would indicate a breakout towards 15,500-15,650. The Dow closed at 35,756 (+0.04%) with the fresh all-time hitting 35,892. Key resistance at 35,750 was cleared and held. Continued closes above this level keeps momentum towards 36,000 in play. The Russell 2000 settled on its session low of 2,296 (-0.7%). Fresh and upper support at 2,300-2,275 failed to hold. A drop below the latter would signal a further backtest towards 2,250-2,225 and the 50/200-day moving averages. Below is a chart of the IWM. EARN Claim $500 to $4600 in Hidden Unclaimed Income Every Month Like Clockwork!
 ANALYST UPGRADES/DOWNGRADESBally's (BALY) upgraded to Outperform from Market Perform at Cowen   WEDNESDAY'S EARNINGS ANNOUNCEMENTS After the close: Churchill Downs (CHDN), eBay (EBAY), Ford (F), iRobot (IRBT), Lending Club (LC), O'Reilly Automotive (ORLY), Suncor Energy (SU), Twilio (TWLO), Xilinx (XLNX) WEDNESDAY'S ECONOMIC NEWS    METALS/ OIL   Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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Bristol Myers (BMY) has become ridiculously oversold, technically.
In fact, if you pull up a two-year chart, you can see it. However, after catching double bottom support dating back to March, with over-extensions on RSI, MACD, and Williams’ %R, it’s ready to push higher. From a current price of $57.54, we’d like to see it test $62, near-term. Longer-term, we believe BMY could rally back above $68. This is just one of the opportunities we find quite often inside Extreme Option Profits.
 The post Extreme Option Profits Chart of the Day…Bristol Myers (BMY) appeared first on Trading Concepts, Inc.. |
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Amazon indicated Monday that it is prepared to handle an influx of orders during the busy holiday shopping season, despite supply chain problems that have led to shipping delays and shortages of key products. The e-commerce giant described several steps it has taken to alleviate supply chain concerns in recent months, including doubling its cargo container processing capacity and increasing ports of entry across its network by 50%. The company is also aiming to hire an additional 150,000 seasonal workers for the holiday season. "Our teams have been hard at work for months, focusing on capacity and demand planning to balance our customers’ needs against any supply chain or transportation challenges that may occur," John Felton, Amazon’s senior vice president of global delivery services, said in a blog post. Trade You Way to a FORTUNE with BioTech and Marijuana Stocks
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 "While we are always investing in our supply chain and transportation network, we have done even more this year to ensure we don’t let recent supply-chain constraints impact the Amazon experience for our customers." Supply chain disruptions of impacted operations for retailers and other firms across the U.S. economy. Companies have noted shortages of key materials and products, while a worker shortage and complications related to the COVID-19 pandemic have led to a backlog at ports and other key logistics hubs. I hope this article helps in your trading strategy.  The post Amazon Signals Holiday Shipping Readiness Despite Supply Chain Crunch appeared first on Trading Concepts, Inc.. |
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The stock market pushed another round of all-time highs on Monday and ahead of a busy week for earnings and economic news. The broader market and the blue-chips rebounded off opening lows despite ongoing supply chain issues and elevated inflationary pressures.
The small-caps and Tech showed the most strength with the latter coming within 1% of its own record high after Tesla’s (TSLA) market capitalization topped $ 1 trillion for the first time. Meanwhile, volatility eased after trading higher on the open but remains above key support that has been holding since February 2020.
The Russell 2000 finished at 2,312 (+0.9%) following the intraday run to 2,314. Key resistance at 2,300 was cleared and held. Continued closes above this level would suggest upside towards 2,325-2,350.
The Nasdaq tested a high of 15,259 before settling at 15,226 (+0.9%). Lower resistance at 15,150-15,300 was reclaimed. A close above the latter would signal a retest towards the 15,400 area with the all-time from early September at 15,403.
The S&P 500 closed at 4,566 (+0.5%) after tagging a record high of 4,572. Key resistance at 4,550 was cleared and held. Continued closes above this level would be an ongoing bullish development for additional momentum towards 4,575-4,600.
The Dow traded to a lifetime peak of 35,787 while ending at 35,741 (+0.2%). Key resistance at 35,750 was cleared but held for the second-straight session. A close above this level would indicate a trip towards 36,000.
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ANALYST UPGRADES/DOWNGRADESFive9 (FIVN) upgraded to Overweight from Sector Weight at KeyBanc TUESDAY'S EARNINGS ANNOUNCEMENTS After the close: Advanced Micro Devices (AMD), Alphabet (GOOGL), Capital One Financial (COF), F5 Networks (FFIV), Juniper Networks (JNPR), Robinhood Markets (HOOD), Texas Instruments (TXN), Visa (V), TUESDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
 HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE GREASY MEATBALL, AND UNCLE MIKE BREAK DOWN:
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U.S. stock futures were little changed after the Dow Jones Industrial Average closed the prior week at a record high. Trade You Way to a FORTUNE with BioTech and Marijuana Stocks
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The U.K.’s FTSE 100, which is dominated by large international businesses, gained 0.4%. Other stock indexes in Europe were mixed as the U.K.’s FTSE 250 climbed 0.2%, Germany’s DAX was largely flat and France’s CAC 40 was broadly flat. I hope this article helps in your trading strategy. The post Stock Futures Pause After Dow Hits Record appeared first on Trading Concepts, Inc.. |
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The stock market was mostly lower on Friday following comments from Fed Chairman Powell. He stated the central bank was on track to begin a taper of asset purchases that, if the economy evolves broadly as expected, will be completed by the middle of next year.
The Dow traded to a record peak of 35,765 while closing at 35,677 (+0.2%). Key resistance at 35,750 was cleared but held. A close above this level would indicate a run towards the 36,000 level.
 The S&P 500 also tested an intraday lifetime high of 4,559 before ending slightly lower at 4,544 (-0.1%). Key resistance at 4,550 was breached but held for the second-straight session. Continued closes above this level would suggest a breakout towards 4,575-4,600.  The Russell 2000 finished at 2,291 (-0.2%) after kissing a morning low of 2,277. Key support at 2,275 was challenged but held. A drop below this level would indicate a retest towards 2,250-2,225 and the 50/200- day moving averages. Below is a chart of the IWM.  The Nasdaq tagged an intraday low of 15,021 before finishing at 15,090 (-0.8%). Fresh and major support at 15,000 was challenged but held. A move below this level would suggest a retest towards 14,900-14,750 and the 50-day moving average.  EARN Claim $500 to $4600 in Hidden Unclaimed Income Every Month Like Clockwork!
ANALYST UPGRADES/DOWNGRADESNvidia (NVDA) double upgraded to Buy from Sell at Summit Insights MONDAY'S EARNINGS ANNOUNCEMENTS After the close: Amkor Technology (AMKR), Crane (CR), Facebook (FB), HomeStreet (HMST), Logitech International (LOGI), PetMed Express (PETS), Sun Communities (SUI), Universal Health Services (UHS) MONDAY'S ECONOMIC NEWS METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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The stock market maintained its upward bias on Thursday as better-than-expected economic news fueled sentiment along with positive Tech earnings. Initial unemployment claims checked in at 290,000, versus forecasts of 297,000, marking the second-straight week below 300,000. Tesla (TSLA) and Microsoft (MSFT) helped the Tech sector following blowout numbers while disappointing earnings from International Business Machines (IBM) weighed on the blue-chips. Meanwhile, volatility closed at its lowest level since February 2020 and just above a key level of support. The Nasdaq went out at 15,215 (+0.6%) with the intraday peak hitting 15,222. Lower resistance at 15,150-15,300 was cleared and held. A move above the latter would be a bullish development for a run towards 15,400-15,550 with the all-time from early September at 15,403. The S&P 500 traded to a record high of 4,551 to extend its winning streak to seven-straight sessions while settling at 4,549 (+0.3%). Key resistance at 4,550 was breached but held. Continued closes above this level would indicate momentum towards 4,575-4,600. The Russell 2000 tapped an intraday high of 2,304 before ending at 2,296 (+0.3%). Key resistance at 2,300 was tripped but held for the second-straight session. A close above this level would signal additional upside towards 2,325-2,350. The Dow finished at 35,603 (-0.02%) with the low tagging 35,442. Key support at 35,500 was breached but held. A close below this level would suggest a retest towards 35,250-35,000.
 ANALYST UPGRADES/DOWNGRADESAramark (ARMK) upgraded to Buy from Hold at Berenberg FRIDAY'S EARNINGS ANNOUNCEMENTS After the close: None FRIDAY'S ECONOMIC NEWS  METALS/ OIL Not sure the best way to get started?Step #1: Get These FREE Reports & Videos |
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The U.S. Federal Reserve on Thursday banned individual stock purchases by top officials at the central bank and unveiled a broad set of other restrictions on their investing activities roughly six weeks after reports of active trading by some senior policymakers triggered an ethics uproar. Claim $500 to $4600 (or more!) in Hidden Unclaimed Income Every Month Like Clockwork!
In a press release the Fed said the new rules were meant to "help guard against even the appearance of any conflict of interest in the timing of investment decisions." I hope this article helps in your trading strategy. The post Fed Bans Stock Trading, Restricts Other Investing Activities by Senior Officials appeared first on Trading Concepts, Inc.. |
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HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP IN THIS EPISODE MARK, THE ROCK LOBSTER, AND UNCLE MIKE BREAK DOWN:
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