S&P 500 Standing At Crossroads After 3 Day Losing Streaks β†•οΈπŸ€”

Thanks to Tiger for awarding the weekly top predictions for QQQ! Managed to lock in 180% gain within 70 mins on Friday. A truly blessed week without a single red day πŸ™

The S&P and Nasdaq dropped 1.3% and 1.9%, respectively, for their first negative week in three. Stocks rose slightly on Friday but logged a losing week amid renewed worries that the Federal Reserve may raise rates more than previously expected.

SPY was climbing about 0.4% at one point on Friday, shaking off market fear caused by reports that China may ban its public workers from using Apple's iPhones.

Blue or yellow channel trumps next week?

Investors are optimistic that the Federal Reserve may choose to hold interest rates steady when it meets next on Sep 19 and 20, boosting a positive sentiment in the market, despite recent data showing the economy remains strong with borrowing costs at the highest level since January 2001.

Some technology stocks that have struggled in recent sessions found their footing. After two straight losing days, Apple inched up 0.4%. Microsoft and Salesforce rose about 1%. Other names, including Nvidia and Tesla, fell more than 1%.

When bad news is good news

Investors may have found some comfort in the lack of bad news during Friday’s session following a string of stronger-than-expected economic data points earlier in the week, said Bryce Doty, a senior vice president and portfolio manager at Sit Investment Associates.

β€œWhen you think of the economy, it’s a Catch-22 for investors,” he said. β€œIf it looks like we’re going to avoid the hard landing, we get some good economic news, and there’s a sigh of relief quickly followed up by an increased expectation of Fed rate increases.”

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Buy put to short weakest link

Recent economic data, including lower-than-expected initial jobless claims, have reignited rate hike fears and concerns that the Federal Reserve may have more work ahead.

As of Friday, traders are pricing in greater than 4 in 10 chances of an increase in November after an anticipated pause in September.

Weekly option trades summary

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# How to Benefit From a Market Pullback ?

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  • MIe
    Β·2023-09-10
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    Data is lagged delayed fed is data dependent.. good news is deflation trend is confirmed just need transparency over time
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    • ZEROHERO:Β 
      Bingo! Fed will cause further volatility based on data to bring inflation down ar all cost. A chance for dip buyers to accumulate wealth πŸ€‘
      2023-09-10
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  • koolgal
    Β·2023-09-10
    TOP
    When bad news is good news or vice versa.  Keeps us on our toes 😁😁😁
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    • koolgalReplying toZEROHERO:Β 
      Have a winning week ahead πŸ€πŸ€πŸ€πŸŒˆπŸŒˆπŸŒˆ
      2023-09-11
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    • koolgalReplying toZEROHERO:Β 
      Let's be nimble 😍😍😍
      2023-09-11
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    • koolgalReplying toZEROHERO:Β 
      Yes I agree with you. 😍😍😍
      2023-09-11
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  • Aqa
    Β·2023-09-09
    Thanks for tag. Congrats for your big profits. Liked and shared. Feature this! Go top!πŸ‘πŸ»
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    • ZEROHERO:Β 
      Thank you! πŸ™
      2023-09-10
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  • Su456
    Β·2023-09-11

    Great ariticle, would you like to share it?

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    • ZEROHERO:Β 
      πŸ˜‰πŸ‘
      2023-09-11
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  • YueShan
    Β·2023-09-10
    Good ⭐⭐⭐
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    • ZEROHERO:Β 
      πŸ€—πŸ’ͺ
      2023-09-11
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  • KSR
    Β·2023-09-10
    πŸ‘
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    • ZEROHERO:Β 
      πŸ™
      2023-09-10
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