[Chart courtesy of MarketWatch.com] Concerns about a slowing economy pulled the markets down from their lofty levels right after the opening bell. The tech sector led the decline, with Nvidia’s 10% drop providing no reason for traders to be bullish. Unsurprisingly, other semiconductor stocks followed suit and declined as well. The S&P 500’s 2.1% plunge marked its worst performance since …
ETF Tracker Newsletter For August 30, 2024
ETF Tracker StatSheet You can view the latest version here. GOLD SHINES AMID MARKET VOLATILITY, REACHES NEW ALL-TIME HIGH [Chart courtesy of MarketWatch.com] The volatility that marked the beginning of August subsided, allowing bullish sentiment to prevail as we closed out the month. Despite an initial drop of over 7%, the S&P 500 rebounded, achieving its fourth consecutive winning …
Weekly StatSheet For The ETF Tracker Newsletter – Updated Through 08/29/2024
ETF Data updated through Thursday, August 29, 2024 How to use this StatSheet: These are the main indicators that tell you when to buy or sell Domestic and International ETFs (section 1 and 2). They do that by comparing their position to their long-term M/A (Moving Average). If they cross above, and stay there, it’s a green light to buy. …
Market Sentiment Shifts: Bullish Optimism Fades Amid Mixed Economic Signals
[Chart courtesy of MarketWatch.com] Despite Nvidia exceeding earnings expectations and raising its outlook, the stock pulled back in after-hours trading yesterday and is down nearly 5% this morning. This decline might have dragged the markets lower, but it didn’t, thanks to falling jobless claims and an unexpected upward revision of the second quarter GDP growth from 2.8% to 3%. This …
Nvidia Earnings Anticipation Sparks Market Selloff: What’s Next?
[Chart courtesy of MarketWatch.com] Anxiety surrounding Nvidia’s earnings announcement, set to be released after today’s close, initially kept equities in a tight trading range but ultimately led to a selloff. Traders are rightfully questioning how much more upside potential can be realistically expected after Nvidia’s impressive 159% surge in 2024. Despite this, optimism remains as analysts focus on the company’s …
Gold Hits Record High As Rate-Cut Expectations Rise
[Chart courtesy of MarketWatch.com] After a sluggish start, the major indexes found some bullish sentiment despite anxiety about the upcoming earnings report from top AI chip producer Nvidia. Nvidia’s numbers are due out on Wednesday, and as the bellwether in the tech and AI arena, its financial health will be closely examined to determine if the current rotation away from …