August 2023
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The Week Behind Despite another blowout quarter from Nvidia and Federal Reserve Chair Jerome Powell striking a neutral tone at Jackson Hole, the markets ended the week on a messy note. On the week, the S&P 500 and NASDAQ managed to eke out gains of 0.82% and 2.26% respectively, while the Dow experienced a slight…
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AAPL tallied its 5th consecutive session in the red, making it the worst stretch for the stock this year. Closing ~$178, the stock has entered a range where technical analysis indicates strong support exists between $176 and $180. The ~$177.5 intraday low for AAPL corresponds with a 38.2% Fibonacci retracement of the current rally (purple).…
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The Week Behind Despite July Payrolls relaxing interest rates, stocks faded halfway through Friday’s session. While there is no clear consensus on the downside catalyst, I suspect the 5% post-earnings decline in Apple shares played a role. As a result, all major indices ended the week lower: the Dow down 1.11%, the S&P 500 down…
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While I would have expected more discomfort over monthly average hourly wages coming in 0.1% higher than expected, albeit flat month-over-month, the miss on headline job creation – 187k actual vs. 200k estimated – was enough to cool hawkish sentiment in the bond market. With inflation concerns now on the backburner, the market has been…
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📈📉 Apple (#AAPL) and Amazon (#AMZN) investors, take note! As these tech giants prepare to report their earnings on the eve of July #Payrolls, a highly influential macroeconomic report, it’s crucial to be aware that Apple and Amazon may see their stocks fall, despite even phenomenal quarters, if July Payrolls is too strong. An inflationary payrolls…
Gorilla With Glasses 