Simpson Manufacturing a Breakout

this quietly red-hot sector

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FEB 22, 2024       SCOTT WELSH’S TICKER TALES Simpson Manufacturing a Breakout? (SSD) NVDA went and did it again. It has produced blowout earrings after blowout earnings. Crazy. Is the NVDA move sustainable? Almost certainly not. But that doesn’t mean it’s not going to soar a little while longer. Another sector that’s been quietly red-hot is the Building sector. Those stocks have been tearing it up and Simpson Manufacturing is no different.  Here’s the chart for SSD:   Considering the high positive momentum of its sector (it's in the top 10), a break over $202.14 could lead to a tech-like surge. We’ll keep an eye on it. Happy trading, — Scott Welsh P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45. Are YOU Ready For Friday, February 23rd? Hooray! The weekend is almost here! For most folks it feels like just any other Friday… But for those in the know… It’s the start of the 8 Day Bitcoin Profit Window! And you can trade it ANY regular brokerage account! PROSPERITY PUB MARKET TALK The Crash That Wasn’t… (yet?) For about a week, it felt like markets had stalled out… Most major indexes had peaked on February 12th and kind of listlessly went down, then up in a range… Some folks were calling it a top. Others were more cautious, calling it a breather or a slight retracement. Either way, it felt like markets were waiting on something. But as CPI and PPI reports came and went without much hoopla… (ok, CPI did rattle us a bit) It then became glaringly obvious… the market was waiting on NVDA earnings. The only question was: which way would it go? A bad report from NVDA could send markets crashing down… Thankfully — at least for now — we don’t have to see what that looks like. Because almost as soon as NVDA reported earnings after yesterday’s close, it — and the major indexes — picked a direction. And it was decidedly up. But still something doesn’t feel quite right… because the rally isn’t as broad as you might think. And despite the sighs of relief from many traders, there still could be another shoe ready to drop. Could it be the Fed’s planned shutdown of its emergency bank lending program in a couple of weeks? Or maybe the commercial real estate market’s troubles finally catch up with it? And that’s to say nothing of the fact that the indexes going up are masking the fact that fewer and fewer stocks are participating in the rally. In other words, it’s fewer and fewer stocks making higher and higher gains… while everything else waffles or sinks. We don’t have a crystal ball, but that doesn’t sound like a healthy market… and until things clear up, caution should be the name of the game. — The Prosperity Pub Team

FEB 22, 2024 SCOTT WELSH’S TICKER TALES Simpson Manufacturing a Breakout? (SSD) NVDA went and did it again. It has produced blowout earrings after blowout earnings.   Crazy.   Is the NVDA move sustainable? Almost certainly not.   But that doesn’t mean it’s not going to soar a little while longer.   Another sector that’s been quietly red-hot is the Building sector. Those stocks have been tearing it up and Simpson Manufacturing is no different.    Here’s the chart for SSD:   Considering the high positive momentum of its sector (it's in the top 10), a break over $202.14 could lead to a tech-like surge.   We’ll keep an eye on it.     Happy trading, — Scott Welsh   P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45. Are YOU Ready For Friday, February 23rd?   Hooray! The weekend is almost here!   For most folks it feels like just any other Friday…   But for those in the know… It’s the start of the 8 Day Bitcoin Profit Window!   And you can trade it ANY regular brokerage account! PROSPERITY PUB MARKET TALK The Crash That Wasn’t… (yet?) For about a week, it felt like markets had stalled out…   Most major indexes had peaked on February 12th and kind of listlessly went down, then up in a range…   Some folks were calling it a top. Others were more cautious, calling it a breather or a slight retracement.   Either way, it felt like markets were waiting on something.   But as CPI and PPI reports came and went without much hoopla… (ok, CPI did rattle us a bit)   It then became glaringly obvious… the market was waiting on NVDA earnings.   The only question was: which way would it go?   A bad report from NVDA could send markets crashing down…   Thankfully — at least for now — we don’t have to see what that looks like.   Because almost as soon as NVDA reported earnings after yesterday’s close, it — and the major indexes — picked a direction. And it was decidedly up.   But still something doesn’t feel quite right… because the rally isn’t as broad as you might think.   And despite the sighs of relief from many traders, there still could be another shoe ready to drop.   Could it be the Fed’s planned shutdown of its emergency bank lending program in a couple of weeks?   Or maybe the commercial real estate market’s troubles finally catch up with it?   And that’s to say nothing of the fact that the indexes going up are masking the fact that fewer and fewer stocks are participating in the rally.   In other words, it’s fewer and fewer stocks making higher and higher gains… while everything else waffles or sinks.   We don’t have a crystal ball, but that doesn’t sound like a healthy market… and until things clear up, caution should be the name of the game.   — The Prosperity Pub Team

ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions. Unsubscribe This email was sent to penunggangbadai.moneyblog@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub

ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions.   Unsubscribe This email was sent to penunggangbadai.moneyblog@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub

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