The Roaring Kitty, the man behind the GameStop (GME) frenzy of 2021 returned out of the blue Sunday night tweeting the above meme at 5:00pm PST suggesting that the markets were once again engaging his attention. That has set off…
Many bulls are probably hoping for a new all time closing high for the S&P today (Friday). But while stocks gapped up at the open, as of 11am EST they have given back most of their gains and the S&P…
Air BnB (ABNB) reported 1Q24 earnings Wednesday afternoon and is currently set to get hit hard in Thursday’s session. Weak 2Q24 guidance of revenue +8% to +10% and Adjusted EBITDA of flat to up appears to be the culprit. But…
On Monday, the S&P broke through its 50 DMA and it is marginally up again Tuesday morning. It is now towards the top of the range that it has been trading in since the March 28 high around 5250. But…
The S&P surged 64 points (1.26%) on Friday to 5,128 – right up to its 50 DMA (5,130). The 50 DMA continues to serve as resistance and the S&P continues to trade in a range (4950 – 5250) defined by…
If you would have given me Apple’s (AAPL) earnings report before it came out, I would have told you that the stock would be down – possibly by a lot. Because it was decidedly mediocre. And yet it’s +6% in…
Obviously the most important event on tap Thursday is Apple (AAPL) earnings after the close. While the stock is off more than 10% YTD, it is still quite overvalued given the lack of growth IMO. In his piece on AAPL…
During the three weeks from Friday March 29 through Friday April 19, the S&P dropped from 5,254 to 4,967 (287 points or 5.5%). When it rallied from Monday April 22 through this Monday April 29 to 5,116 (149 points) –…
The consensus narrative is that the correction over the last month has ended as the S&P has bounced starting last Monday. But the S&P has still failed to surmount its 50 DMA – and was rejected hard there in Tuesday’s…
Google (GOOG/GOOGL) just reported a blowout quarter after the market close Thursday. Revenue was +15%, Operating Margin surged to 31.6% from 25.0% a year ago and EPS of $1.89 is up 62% from the year ago period. These are massive…