The markets cooled off Wednesday following a four-day win streak.
But things could not look better as a whole... We’ve seen a lot of upside and the major indices rose above their 200-day moving averages, but now it’s time for them to consolidate.
April is also bullish from a historical perspective, the third best performing month on average.
We’re also seeing another bullish sign — technology and consumer discretionary stocks are on the rise once more. When people start spending money on the things they don’t need, that’s good for the economy.
Speaking of the economy, Wednesday’s fourth-quarter 2021 gross domestic product report came in just below expectations at 6.9% versus 7.1% expected.
As I’ve mentioned before, there’s always the chance the Federal Reserve could look at a soft GDP number and decide to ease up on its interest rate hike plans, given that the markets are still shaken by the war.
Russia said it will scale back military operations near Ukraine’s capital city of Kyiv. Despite the statement, which was met with skepticism, attacks continued Wednesday.
In this stock market recap video, you'll discover why today's GDP data is a major influence on the bond market… major levels the major indices need to break… the most important sector to watch… how to navigate this market without getting hurt by volatility… whether right now is the best time to go long… plus new long and short trade opportunities.
Aside from speculation on a Tesla stock split — so the company can pay a dividend to shareholders — driving some buzz in the tech sector, trading volumes have been lower.
A bright spot for our strategies has been a nice pop in Twitter for Weekly Blitz Alerts…
Sleepy days with no trend in the indexes are a great time for options traders to burn up an account.
What happens is a lot of people want to buy options in the opening 30 minutes because they're excited to get back trading after the weekend…
And when there isn’t much to go on, it’s a lot easier to overreact to a move from fear of missing out — aka “FOMO.”
“Thank you so much for your consolation. By the way, I always like your presentations. Keep them up.”
Hafrid
The Relative Strength Index (RSI) is a momentum indicator that measures the magnitude of recent price changes to analyze overbought or oversold conditions. It is primarily used to attempt to identify overbought or oversold conditions in the trading of an asset.
Traditional interpretation and usage of the RSI is that values of 70 or above indicate that a security is becoming overbought or overvalued and, therefore, may be primed for a trend reversal or corrective pullback in price. An RSI reading of 30 or below is commonly interpreted as indicating an oversold or undervalued condition that may signal a trend change, or corrective price reversal to the upside.
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