The pullback has begun. Yester-To The Moon - Tiger Brokers Online Investing Community - To The Moon

The pullback has begun.

Yesterday, a federal Reserve Chairman Jerome Powell said that the Fed "is not confident it has done enough to achieve its stance of 2% inflation", sending a warning traders betting on rate cuts in 2024.

Furthermore, yesterday's Treasury auction of 30 year bonds went poorly, indicating that investors are reluctant to own long-dated government securities. Investors were awarded 4.769% yield 30 year Treasuries, 0.0051 percentage points higher than the yield in pre-auction trading. This led to a sell off in US Treasuries, with yields moving higher. Conversely, the $SPDR S&P 500 ETF Trust(SPY)$ and the $Invesco QQQ Trust-ETF(QQQ)$ snapped an 8 day winning streak, dropping 0.8% and 0.9% respectively.

Bearish price action was exhibited during yesterday's trading session through a bearish engulfing daily candlestick and an increase in bear volume. Additionally, momentum is trending downtrend and can continue to fall from overbought territories. Bears are attempting to push the QQQ below its downward trend line with a possible retracement to 358 reiterated as the short-term price target of the QQQ.

Investors with a longer time horizon however, might view this as a favourable opportunity to accumulate shares in high qualities companies or indexes/ETFs.

@TigerEvents @CaptainTiger @TigerStars @Daily_Discussion

Nasdaq 9th gains: Beat records or Pull back this week?

Nasdaq and the S&P 500 notched their longest winning streaks since November 2021. The Nasdaq rose 0.9%, advancing for its eighth consecutive day. The S&P 500 gained 0.3%, its seventh straight winning session. With the strong rebound, many stocks hit YTD high or All-time-high this week. ------------------ Expect for new highs or pullback of these stocks? Will you chase the high? Which company in your watchlist reached new high?

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

WernerBilly
2023-11-11
WernerBilly
But the rebound is so nice today

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The S&P 500 gained 0.3%, its seventh straight winning session.\nWith the strong rebound, many stocks hit YTD high or All-time-high this week.\n------------------\nExpect for new highs or pullback of these stocks?\nWill you chase the high?\nWhich company in your watchlist reached new high?","image":"https://community-static.tradeup.com/news/2ff90bc8d2f298849972e9bdc8b1162f"}],"images":[{"img":"https://community-static.tradeup.com/news/b8b754e4a6067cd2c8b9352fdd9029ed","width":"1280","height":"729"}],"coverImages":[{"img":"https://community-static.tradeup.com/news/b8b754e4a6067cd2c8b9352fdd9029ed","width":"1280","height":"729"}],"html":"<html><head></head><body><p>The pullback has begun.</p>\n<p>Yesterday, a federal Reserve Chairman Jerome Powell said that the Fed \"is not confident it has done enough to achieve its stance of 2% inflation\", sending a warning traders betting on rate cuts in 2024.</p>\n<p>Furthermore, yesterday's Treasury auction of 30 year bonds went poorly, indicating that investors are reluctant to own long-dated government securities. Investors were awarded 4.769% yield 30 year Treasuries, 0.0051 percentage points higher than the yield in pre-auction trading. This led to a sell off in US Treasuries, with yields moving higher. Conversely, the&nbsp;<a href=\"https://ttm.financial/S/SPY\">$SPDR S&amp;P 500 ETF Trust(SPY)$&nbsp;</a><v-v data-views=\"0\"></v-v>and the <a href=\"https://ttm.financial/S/QQQ\">$Invesco QQQ Trust-ETF(QQQ)$&nbsp;</a><v-v data-views=\"0\"></v-v>snapped an 8 day winning streak, dropping 0.8% and 0.9% respectively.&nbsp;</p>\n<p>Bearish price action was exhibited during yesterday's trading session through a bearish engulfing daily candlestick and an increase in bear volume. Additionally, momentum is trending downtrend and can continue to fall from overbought territories. Bears are attempting to push the QQQ below its downward trend line with a possible retracement to 358 reiterated as the short-term price target of the QQQ.&nbsp;</p>\n<p>Investors with a longer time horizon however, might view this as a favourable opportunity to accumulate shares in high qualities companies or indexes/ETFs.</p>\n<p><a href=\"https://ttm.financial/U/3527667667103859\">@TigerEvents&nbsp;</a><a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger&nbsp;</a><a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars&nbsp;</a><a href=\"https://ttm.financial/U/3527667621665671\">@Daily_Discussion&nbsp;</a></p>\n<img src=\"https://community-static.tradeup.com/news/b8b754e4a6067cd2c8b9352fdd9029ed\" tg-width=\"1280\" tg-height=\"729\"></body></html>","htmlText":"<html><head></head><body><p>The pullback has begun.</p>\n<p>Yesterday, a federal Reserve Chairman Jerome Powell said that the Fed \"is not confident it has done enough to achieve its stance of 2% inflation\", sending a warning traders betting on rate cuts in 2024.</p>\n<p>Furthermore, yesterday's Treasury auction of 30 year bonds went poorly, indicating that investors are reluctant to own long-dated government securities. 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Bears are attempting to push the QQQ below its downward trend line with a possible retracement to 358 reiterated as the short-term price target of the QQQ.&nbsp;</p>\n<p>Investors with a longer time horizon however, might view this as a favourable opportunity to accumulate shares in high qualities companies or indexes/ETFs.</p>\n<p><a href=\"https://ttm.financial/U/3527667667103859\">@TigerEvents&nbsp;</a><a href=\"https://ttm.financial/U/3527667618000160\">@CaptainTiger&nbsp;</a><a href=\"https://ttm.financial/U/9000000000000149\">@TigerStars&nbsp;</a><a href=\"https://ttm.financial/U/3527667621665671\">@Daily_Discussion&nbsp;</a></p>\n<img src=\"https://community-static.tradeup.com/news/b8b754e4a6067cd2c8b9352fdd9029ed\" tg-width=\"1280\" tg-height=\"729\"></body></html>","text":"The pullback has begun. 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