CRITICAL - THESE 2 WEEKS Stock Market

Опубликовано: 04 Июнь 2024
на канале: Dr. Stock

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*CRITICAL - THESE 2 WEEKS* Stock Market Catalysts & Technicals NVDA

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Video Description: Market Insights and Stock Picks with Dr. Stock

Hey everyone, welcome back to the channel! Today, we have a lot to discuss about what's happening in the markets. Stick around until the end where I'll share some stocks that are definitely worth checking out.

I'm Dr. Stock, Doctor of Education. Let me kick things off with a quick story to illustrate the current state of inflation. I recently bought a birthday balloon that cost $2, but when I asked the cashier to blow it up, the price jumped to $10. Talk about inflation!

Key Points Discussed:
- **Inflation Impact**: Groceries now cost more than my mortgage, highlighting the pinch we all feel due to rising prices.
- **Market Analysis**:
- **Manufacturing PMI**: Dipped to 48.7, indicating contraction. This news impacted the market significantly.
- **Logistics and Redbook Data**: Mixed signals with slight expansion in logistics but a decrease in same-store sales growth.
- **Upcoming Reports**: Watching JOLTS, non-farm payrolls, and unemployment rate closely.
- **Inflation Measures**: CPI report and Fed's interest rate decision next week are crucial.

Technical Insights:
- **SPY and QQQ**: Both show potential near-term weakness. Watching key technical indicators for further moves.
- **Bitcoin**: Holding above key support levels but facing resistance at $70K.
- **Enphase and Tesla**: Consolidating and showing mixed signals; need to watch for breakouts or breakdowns.

Bonus Stock Picks:
1. **Carvana (CVNA)**:
- Analyzed Fibonacci retracement levels.
- Key support levels around $91, potential upside to $113.
2. **American Airlines (AAL)**:
- Long-term support trend line dating back to the Great Recession.
- Potential bounce to $13 if support holds, but high risk if it breaks.

Final Thoughts:
The market is at a critical juncture with potential downward pressure from economic indicators and inflation concerns. I'm cautious with options right now, focusing on technical signals and economic data.

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