Despite the indices giving solid showing, we are seeing the stock trading somehow mixed. The market-cap weighted S&P 500 extended its record high, climbing 0.8%, and the equal-weighted S&P 500 registered a 0.7% gain. Decliners had a slim lead over advancers at both the NYSE and the Nasdaq. The underlying negative bias, driven by consolidation activity, was not enough to offset buying activity in some mega cap stocks. Apple and Microsoft Provide Support To Broader Market Outsized gains in Apple (AAPL) with +2.0% and Microsoft (MSFT) with +1.3%) provided some support to the broader market. These two stocks are among the three with a market cap above $3 trillion. The Vanguard Mega Cap Growth ETF (MGK) was up 0.9%. MGK have been trading above the 21-day MA period comfortably. This is

$Palantir Technologies Inc.(PLTR)$ received a Buy rating and a $29 target price from Argus. The company, known for its software platforms aiding counterterrorism, has expanded into the commercial sector. Analysts expect its commercial business, particularly in the U.S., to drive future growth. On 07 June and 12 June respectively, I have posted two article explaining why I would think that Palantir is teasing the breakout level around $23.80 and it could possibly go above $25. Palantir Teasing Early Breakout WIth Nvidia Inching New Highs Palantir Go Above $25 If Stay Above Breakout Level $23.80 Palantir D

If you were at the sideline thinking of buying $Broadcom(AVGO)$ shares, now the company have provided more reasons why it is time to seriously consider to buy this stock. After Broadcom announced a 10:1 stock split in its record-breaking fiscal Q2 results, Broadcom now expects this performance to continue, fueled largely by demand for its artificial intelligence (AI) solutions. While Broadcom does not make the same chips as $NVIDIA Corp(NVDA)$, it does build components that are critical for networking applications including those needed in AI data centers around the world. ASIC Chips Design For AI Applications - Broadcom Forte Since the early 1990s Broadcom has been around, they design ASIC

Last week both S&P 500 and NASDAQ reach fresh record highs, closing 1.6% and 3.2% higher, respectively, while other major indices suffered declines, the Dow Jones Industrial Average declined 0.5%, and the Russell 2000 fell 1.0%. Mega Cap Stocks Crucial Role For Index-Level Gains Last week, the gains in the mega cap space played a crucial role in the index-level gains for the S&P 500 and NASDAQ. The equal-weighted S&P 500 slid 0.5% this week. The $Vanguard Mega Cap Growth ETF(MGK)$ jumped 3.4%. Apple (AAPL) was a significant winner, jumping 7.9% and hitting record highs after introducing "Apple Intelligence" at its Worldwide Developers Conference. Broadcom (AVGO) surged 23.4% following a better-than-expected earnings report, outlook, and

The S&P 500 went up by +0.2% and Nasdaq Composite was up by +0.3%. These 2 indices added to their record closing highs on Thursday (13 June 2024), but market breadth was negative and other major indices closed with losses. The Dow Jones Industrial Average fell 0.2% and the Russell 2000 settled 0.9% lower. The underlying negative bias was driven by some stocks normal consolidation, this was followed by many stocks experiencing big run. The decliners led advancers by a nearly 2-to-1 margin at the NYSE and at the Nasdaq. Note Yield Fell In Response to Cooler-Than-Expected Inflation The downside bias was not able to be offset by dropping market rates and solid gains in some mega cap stocks. The 10-year note yield fell six basis points to 4.25% and the 2-year note yield declined six basis

We saw the sharp decline in U.S. dollar on Wednesday (12 June 2024) and it start to recover on Thursday, so will this decline and recovery help to push gold as high as it could be expected? U.S. Dollar Sharp Decline With A Recovery Shortly On Wednesday (12 June), we saw that US dollar was under attack that it was so strong with the selling pressure that it closed at its lowest in 3 days. U.S dollar make a comeback on Thursday (13 June), the U.S. dollar finished the session above the red declining line, invalidating the earlier breakdown, which is a positive development. Will U.S. Dollar See Another Decline Today (14 June 2024)? Although the U.S. currency increased earlier today, it is still trading under the previously broken 50-day moving average and well below yesterday’s high. Taking th

$Broadcom(AVGO)$ has announced that they will carry out a 10-for-1 forward stock split, in a bid to make its shares more affordable for retail investors. The split-adjusted trading is expected to begin on 15 July 2024. The announcement of an impending stock split can cause many investors to examine the company in question closely. Most investors will want to see if this development will impact their investment strategy. Nvidia Stock Split - Current Selling Seem to Happen If we have been following how Nvidia have been trading before and after the stock split, we could see that Nvidia did have a nice move upwards before the stock split. But after the stock split, there is no significant bullish upside move for

After the positive inflation data came in at 8.30 ET, the stock market started the session on a high note. The May Consumer Price Index (CPI) showed some welcome disinflation on a year-over-year basis in total CPI was +3.3% compared to +3.4% in previous month and core CPI cames in at +3.4% lower than previous month of +3.6%. Target Range For Fed Funds Rate Left Unchanged By FOMC As expected, the Federal Open Market Committee (FOMC) decided to keep the target range for the fed funds rate unchanged at 5.25-5.50% with unanimous vote, The directive emphasised again that the Committee does not expect it will be appropriate to reduce the target range until it has greater confidence that inflation is moving sustainably toward 2 percent. The Summary of Economic Projections (SEP) showed a median es

$Palantir Technologies Inc.(PLTR)$  continue to trade above 23.80,  clearing 25 would be a matter of time.

The S&P 500 (+0.3%) and Nasdaq Composite (+0.9%) climbed further into record territory on 11 June (Tuesday), The index performance receive a nice boost from the huge jump in shares of Apple (AAPL) , which also hit a fresh record high. This came after Apple Monday (10 June)'s product/AI presentation at its Worldwide Developers Conference. However, financial stocks like American Express (AXP) and JPMorgan (JPM) weighed down the Dow. In afternoon trading session, we also show other mega cap stocks picked up steam after they react to a drop in market rates. The $Vanguard Mega Cap Growth ETF(MGK)$ settled 1.1% higher. Treasury Yield Fell Ahead Of CPI The 10-yr note yield fell seven basis points lower at 4.413%, and the 2-yr note yield fell five bas

I have previous wrote an article on Palantir Teasing Early Breakout WIth Nvidia Inching New Highs, Palantir was teasing the breakout level at $23.80, which it managed to break when it closed at $23.85 on Tuesday (12 June). So in this article, I would like to revisit the analysis I did and see if Palantir would be able to clear $25 and go above and what could be stopping this enterprise artificial intelligence software companies. Other Enterprise Software Results Show Uncertainty $Palantir Technologies Inc.(PLTR)$ lacklustre performance over the past weeks have something to do with the elevated uncertainty coming from the earnings results of fellow enterprise software companie

On Monday (10 June), we could see that the market remains in a waiting mode ahead of Wednesday (12 June)’s CPI and Fed releases. Stock prices extend their short-term indecision and a consolidation ahead of the important inflation data and the Fed release on Wednesday (12 June). The $S&P 500(.SPX)$ gained 0.28% yesterday, closing the highest in history. On Friday, it reached a new record high of 5,375.08 before retracing the intraday advance. On Tuesday (11 June) we saw S&P 500 index close at a new high of 5,375.32. Investor Sentiment Remained Unchanged Last Week Investor sentiment remained unchanged last week, as indicated by the AAII Investor Sentiment Survey from 05 June (Wednesday), which showed that 39.0% of individual investors are b

On 10 June 2024, the stock market started the session with losses but we saw the session ended with an upbeat note at close. There were limited moves in either direction. The S&P 500 was down 0.3% at its low of the day and closed 0.3% higher, marking a fresh all-time high for the index. The Nasdaq Composite also logged a new record high, closing with a 0.4% gain. The market showed nice resilience to early selling efforts, which turned into upside support. The turnaround action in $NVIDIA Corp(NVDA)$ shares helped to provide support to the broader market, though the stock price was down as much as 3.2% at session lows but it managed to close with 0.8% up. Nvidia (NVDA) continues to be seen as a "generational opportunity" by Evercore ISI, with t

$Broadcom(AVGO)$ is expected to release earnings on 12 June 2024 after the market closes (AMC). The advantage for Broadcom is that it is the leading player in the ASIC market with an estimated share of 35%, according to JPMorgan. This solid share explains why Broadcom is anticipating $10 billion in revenue from sales of AI chips this year. It is worth noting that Broadcom's AI chip revenue jumped fourfold year over year in the first quarter of fiscal 2024 (which ended on Feb. 4) to $2.3 billion. The chipmaker has reportedly built a solid clientele in the custom AI chip market already, including the likes of $Meta Platforms, Inc.(META)$ and $Alphabet(GOOGL)$ . Th

We have not seen any stock splits on the market for quite several years, but now big companies now seem to be eager to reverse course. $NVIDIA Corp(NVDA)$ has became the fifth of the "Magnificent Seven" stocks to split its shares in less than four years, announcing a 10-for-1 stock split that's set to go into effect on 07 June, and it will start trading today (10 June) on the stock split. Since the stock split announcement, Nvidia stock price have been up roughy 20%, strong earnings report has contributed to this significant increase. This year in 2024, Nvidia has joined Walmart and Chipotle as stock-split winners. Following their stock-split announcements, these three stocks have post significant gains, so as investors, I guess it is almost a rou

On last Friday (07 June), the final session of last week did not show much conviction on either side of the tape, this is despite seeing gains in the major indices through the session. An underlying negative bia drove last Friday’s movement. The market breadth favored decliners by nearly 3-to-1 at the NYSE and by 8-to-3 at the NASDAQ. Treasury Yield React With Sharp Jump to Downside Market Bias Because of the sharp jump in market rates, we saw downside bias responding. The 10-yr note yield settled 15 basis points higher on Friday, and eight basis points lower this week, at 4.439%. The 2-yr note yield jumped 15 basis points on Friday leaving it two basis points lower on the week, at 4.897%. The price action in Treasuries followed the May Employment Situation Report, which showed higher-t

Last month, best mutual funds new buys did not have any of the Magnificent Seven stocks with names like $NVIDIA Corp(NVDA)$ $Microsoft(MSFT)$ and $Alphabet(GOOGL)$ . But we do see fellow artificial intelligence leader $Palantir Technologies Inc.(PLTR)$ making to the list As we saw Nvidia making a new highs on Wednesday (05 June) and making a modest 1.18% dip yesterday (06 June 2024), Palantir stock is targeting a breakout past a trendline entry. Over $366 million worth of shares in Palantir Taken Up There were over $366 million worth of shares in Palantir being taken up by Wall Street top performing funds. Palantir has

We saw major indices closed on Thursday (06 June 2024) either slightly above or slightly below Wednesday’s closing levels. The S&P 500 with market-cap weighted closed about one point lower, and the equal-weighted S&P 500 logged a 0.2% decline. There was not a lot of conviction today following fresh all-time closing highs for the S&P 500 and Nasdaq Composite on Wednesday, and in front of Friday's release of the May Employment Report. The market continues to show nice resilience to selling efforts, which has acted as an upside driver in recent sessions. Stock Larger Moves On Specific Catalysts On earnings and/or guidance, we saw $Lululemon Athletica(LULU)$ rose to 323.03, up 4.8% on its pleasing results. J.M. Smucker (SJM) increased to

Gold has gained an important ally, but is it enough to go higher? If we looked at the daily chart, we will see that the U.S. currency moved a bit above the previously day and also the 200-day moving average during Wednesday (05 June)’s session, this improvement turned out to be quite temporary and the greenback finished the day below these resistances, invalidating the earlier breakout. This negative development lured the bears earlier on Thursday (06 June), which resulted in a test of Wednesday’s green candle (104.05-104.15). As we can see, this very short-term support withstood the selling pressure, which translated into a reversal and a rebound in the following hours. Due to Thursday’s upswing, the greenback came back above the mentioned resistances, which is a positive sign. CCI and t

Wednesday trading session has shown that investors are more confident on the market with S&P 500 index rebounding from the 5,250 level and closing 1.18% higher. Today, futures contracts are pointing to a 0.3% higher open for the index, suggesting an attempt to break above a short-term trading range. Investor sentiment did not change following the ADP Non-Farm Employment Change release, which was lower than expected at +152,000. Last Friday, stock prices bounced from their new local low, and the index got back above the crucial 5,250 level. e most likely scenario is more consolidation and sideways trading.” Investor sentiment worsened last week, as indicated by the AAII Investor Sentiment Survey last Wednesday, which showed that 39.0% of individual investors are bullish (a decrease fro