US Market on 08 Feb 2023 (Wed). MSFT & GOOG Time To Rise ?

It was a volatile affair ytd as everyone waited with abated breath to find out what Mr Powell would deliver at the Economic Club of Washington D.C. at 12:40pm ET.

All 3 indexes traded sideway until Mr Powell delivered his speech that saw the indexes zoomed to its respective peak.  Then it was downhill slide for the next 45 mins until 1:45pm.  Luckily things turned better thereafter.

By the time market closed :

• DJIA : +0.78% (+265.67 to 34,156.69)
• S&P 500 : +1.29% (+52.92 to 4,164.00)
• Nasdaq : +1.9% (+226.34 to 12,113.79). Backed to 12,000 mark.

Apart from verifying if the 3 indexes are above their respective 200-day ma, 50-day ma and 20-day ma; I have also included a track on whether each index's 50-day ma has risen above its 200-day ma.

The "golden cross" occurs when the 50-day exponential moving average crosses above a 200-day moving average. The thinking among chart users is that this price action illustrates a change in sentiment from bearish to bullish.

Hope this is useful to you.

With the internet awashed with articles on "ChatGPT" in recent weeks, I have done a bit of reading up as well.

So, what is ChatGPT ?

• It is a chatbot developed by OpenAI and launched in Nov 2022.
• It is built on top of OpenAI's GPT-3 family of large language models
• It has been fine-tuned using both supervised and reinforcement learning techniques.

In my Microsoft Q4 2022 earnings post , I have briefly touched on OpenAI - didn't know it will be so overexposed in a matter of weeks.

Extract from my post on Microsoft

And just ytd 07 Feb 2022 (Tue), Microsoft has disclosed its latest version of Bing search engine has been linked with ChatGPT.

• Will this bring renewed interest in $Microsoft(MSFT)$ in the immediate short term ?
• Will this interest in Microsoft have a rub off effect on $Alphabet(GOOG)$ 's stock price as well ?
• It will be "fun" to observe in the coming days before the week is out.

Going Into 08 Feb 2023 (Wed), How Will The Stock Market Behave ?

US pre-mkt indicator / Bitcoin & Ethereum prices 

• Looking at US Pre-market indicators (above diagram) - Mostly Green !
• Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Red & Red !
• Asia markets (ASX - Green !, Nikkei - Red !, KOPSI - Green !, HSI - Red !)
• EU markets - -(DAX - Green !, FTSE - Green !, CAC - Green !).

• Do you think both MSFT & GOOGL stock prices will rise for this week ?
• Do you think the US market will rally today ?

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