Well hello traders. What an amazing day, especially if you're tuned in to the SPY sector chart.
Just in case you missed the fun today, the market trend higher in the second half while we are all glued to YouTube to hear Fed Chair Jerome Powell speaks. One may draw different conclusions on how that went but here's what I think. I believe the tone is shifting to a less hawkish position, or some say dovish.
Anyway, I found the conversation with the moderator entertaining at times. I didn't know the Fed Chair makes 190K annually. I was surprised that came up during the conversation. I suggest you spend some time to watch it; I shared the link below.
What the market giveth the market taketh.
Take a glance at AI, down almost 11% today. If you recall, the stock had been up these past couple of days to the tune of 24.37%.
It seems traders are taking it easy on Amazon which is down only 0.07%. I'll be watching this tomorrow.
Tesla is up...again.... 1.05%.
The biggest news for me today is how the Energy sector is able to finish pole position, up 3.08%. Consumer Staples seems to have lost its mojo joining Real Estate and Utilities; the only ones that finished red.
Bitcoin at 23,247.36 at the moment.
Uber, CVS, and Wendy's release their earnings before the bell tomorrow. Disney and Robinhood caps the day in the afternoon.
In case you missed the event on Fed's Honorable Powell conversation about monetary policy today, here's the link:
You only lose if you don't have a stop loss. Cheers Traders.
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I am not a professional investment adviser and my opinions are based on my own technical analysis. Please consult an investment professional before making investment decisions.
Do your due diligence if or when placing a trade. All ideas stated here are my own and do not represent trading or investment advice.