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