To The Moon

TL;DR: Over the next couple of weeks, potential pullback targets are SPY 550, Tesla 230-250, while Nvidia and Apple targets remain unchanged from previous ranges.The Market Continues to PullbackWall Street operates with a sense of urgency, one might say haste.While I had expected a higher probability of a market pullback after the August 2nd FOMC meeting, the old Wall Street hands couldn't even wait for that, selling off aggressively post-CPI data.Powell had to testify over two days, bearing the brunt. Remember when the banking crisis was shorted right into the FOMC day? What did you all do to the poor guy this time?But back to the main point, based on option flows, this mini pullback is likely to persist until next week, with SPY finding support around 550.SPY peaked at 562 on Thursday be

What was meant to be a joyous celebration did not materialize. On Thu, 11 July 2024, US inflation - the consumer price index for June 2024 was released. (see below) Readings were “better” than Wall Street forecasts but instead of charting new “highs” (like the past few days), both S&P 500 and Nasdaq indexes tumbled. Headline Inflation (June 2024) US core CPI (MoM) came in at 0.10%, lower than forecast of 0.20% & lower than May’s data of 0.2%. US core CPI (YoY) came in at 3.3%, lower than forecast of 3.4% & lower than May’s data of 3.4%. Taking into considerations what Mr Powell had said in his semiannual testimony at Capitol Hill that: US central bank is “concerned that holding interest rates too high for too long could jeopardize economic growth”. (see above) Interest Rate Cut

$623 Billion Loss. Declines in Tesla, Nvidia and other large tech stocks could mean a $623 billion market-cap wipeout for the 'Magnificent Seven' - the biggest one-day total on record Thursday's selloff in large technology companies could result in the biggest one-day market-capitalization erasure for the "Magnificent Seven" on record. Nasdaq Heatmap for Thu, 11 July 2024 All seven technology stocks were off at least -2.5% in Thursday afternoon trading. (see above) According to Dow Jones Market data, the activity would translate to a $623 billion single-day collective loss of market cap for that grouping - the largest on record dating back to Meta Platforms Inc.'s (META) 2012 initial public offering. Biggest Loser. Based on Dow Jones Market data, $Tes

Reflecting on this year's bullish U.S. market, AI stocks have shone brightly and become the main driving force of the market. $NVIDIA Corp(NVDA)$ completed a stock split in June, and the soaring prices before the split are still fresh in investors' minds. Looking ahead, $Broadcom(AVGO)$ 's split plan will also be executed—specifically, a "1 for 10" split after the market closes on July 12th, with trading of the split shares commencing before market open on July 15th.Broadcom's CFO has noted that the split will "make it easier for investors and employees to access Broadcom stock." In terms of stock performance, Broadcom has already surged over 14% since announcing the split.Even Pelosi recently made moves

Inflation Data and Federal Reserve Outlook June CPI Report: US inflation cooled significantly in June, rising just 3.0% year-over-year, below economists' forecast of 3.1%. Month-over-month, prices fell for the first time since May 2020. June CPI 3% CPI Treasury Yields Reaction:The data led to a decline in Treasury yields, as investors renewed confidence that the Federal Reserve might cut interest rates at least twice this year. Chicago Fed President Austan Goolsbee termed the CPI data as "excellent," indicating confidence that the Fed is on a path to achieve its 2% inflation target. Global Central Bank Actions European Central Bank (ECB): Measured Approach:** A Bloomberg survey indicates that the ECB will take a cautious approach to lowering rates amidst political risks that could affect i