Stock Market News and Analysis Live Today: The Ultimate Source

Bank of America Q1 Results: Profits fall 18% on higher expenses, charge-offs

Bank of America's first-quarter profits decreased due to higher expenses related to rising interest rates, surpassing expectations. The bank made a $700 million payment to the FDIC to support the deposit insurance fund, impacting its earnings.

Bulk deals: JSW veteran Prashant Jain picks up stake in Coffee Day Enterprises

Prashant Jain acquired 1.89 percent stake in the company through his personal fund Tikri Investments

Johnson & Johnson’s stock falls as profit beats but sales fall slightly short of estimates

Johnson & Johnson’s stock was on pace for its lowest close since late 2020 on Tuesday, after the healthcare company posted better-than-expected profit for the first quarter but sales that fell slightly short of expectations.

How to save money on your internet and mobile data plan with the FCC’s new broadband ‘nutrition labels’

‘In the past, all of this stuff was hidden in small print,’ says one expert about the FCC’s new labels to help consumers compare broadband deals.

Live Nation’s stock falls on report of pending Justice Department antitrust suit

Shares of Ticketmaster parent Live Nation Entertainment fell after hours on Monday following a report that the Justice Department could soon file an antitrust suit accusing the concert-ticketing giant of stifling competition.

3 things I’d do now to start buying shares

Christopher Ruane explains three steps he'd take to start buying shares for the very first time, if he'd never invested before. The post 3 things I’d do now to start buying shares appeared first on The Motley Fool UK.

Do cash-gushing stocks outperform the S&P 500? Here’s what history has to say.

Here’s how selecting stocks five years ago by FCF yield would have worked out.

Nvidia isn’t just a chip stock, and could soar 30% when investors realize that

It’s perhaps hard to fathom that Nvidia could be severely underestimated by investors. But what if it is?

Undervalued UnitedHealth Group Won’t Be For Long

UnitedHealth Group had a decent quarter impacted less by the cyber attack than some had feared. The market is in rebound mode and could rally substantially.

The 5 Stocks Most Sold By Insiders This Year

Insiders are selling these 5 stocks increased as their markets advanced, and gains may be capped. Long-term outlooks are positive for growth and share prices.

Investing £300 a month in FTSE shares could bag me £1,046 monthly passive income

Sumayya Mansoor explains how she’s looking to create an additional income stream through dividend-paying FTSE stocks to build wealth. The post Investing £300 a month in FTSE shares could bag me £1,046 monthly passive income appeared first on The Motley Fool UK.

£10K to invest? Here’s how I’d turn that into £4,404 annual passive income

This Fool explains how using a £10K lump sum can turn into a passive income stream worth thousands for her to enjoy in her later years. The post £10K to invest? Here’s how I’d turn that into £4,404 annual passive income appeared first on The Motley Fool UK.

GTPL Hathway Q4 Results: Company back in black with Rs 16-crore net profit

GTPL Hathway reported a consolidated net profit of Rs 16 crore for the quarter ending March 31, compared to a net loss of Rs 11 crore in the same quarter of the previous fiscal.

ASML’s Earnings Could Bring The Stock to New Highs

ASML stock is calling the shots this earnings season, with EPS projections and valuations calling for a potentially new high price for the name.

Salman Khan firing case update: Mumbai police tells court, the accused opened fire outside actor’s house in a ‘bid to kill him’

The two accused, Vicky Gupta (24) and Sagar Pal (21), are both residents of Bihar and they were on the run after the firing incident outside Salman Khan’s house at the Galaxy Apartment, Bandra.

PNC Financial Services Group Q1 2024 earnings and revenue decline

The PNC Financial Services Group, Inc. (NYSE: PNC) on Tuesday reported a decrease in revenues and net profit for the first quarter of 2024. Net income attributable to common shareholders […] The post PNC Financial Services Group Q1 2024 earnings and revenue decline first appeared on AlphaStreet.

Dow jumps 257 points at open as upbeat earnings obscure Mideast jitters

The S&P 500 opened higher by 2.77 points, or 0.05%, at 5,064.59, while the Nasdaq Composite dropped 28.64 points, or 0.18%, to 15,856.38 at the opening bell.

Rekha Jhunjhunwala cuts stake in this Tata group stock and 4 others

Jhunjhunwala owned about 1.8% stake in Tata Communications towards the end of December quarter, pared the stake in the company by 0.3%, bringing the overall holding to 1.6% at the end of March quarter.

Retail Investors Can Follow Goldman Sachs' Moves This Quarter

Goldman Sachs joins the Wall Street view of stocks having potentially more room to move higher, the business cycle is only getting started

£8,000 in savings? I’d use it as a start to aim for £30k a year in passive income

Here's how regular investing in the UK stock market, over the long term, could help us build up some nice fat passive income every year. The post £8,000 in savings? I’d use it as a start to aim for £30k a year in passive income appeared first on The Motley Fool UK.

PayPal’s User Decline Won’t Stop Its Double-Digit Upside

PayPal stock is a sitting duck waiting to be shot by value investors. Fundamental KPIs show that a decline in net users isn't as bad as it seems.

BK Earnings: A snapshot of Bank of New York Mellon’s Q1 2024 results

The Bank of New York Mellon Corporation (NYSE: BK) reported a double-digit increase in earnings for the first quarter of 2024 when the financial services provider’s revenues rose by 3%. […] The post BK Earnings: A snapshot of Bank of New York Mellon’s Q1 2024 results first appeared on AlphaStreet.

Maharashtra CM Eknath Shinde visit Salman Khan at his residence, two days after the gunshot firing

Earlier, the Maharashtra CM Eknath Shinde had telephoned Salman Khan on the day of the firing. The two accused identified as Vicky Gupta and Sagar Pal were brought to Mumbai and produced before court. They have been sent to custody until April 25.

Equity investors become poorer by Rs 7.93 lakh cr in three days

The market capitalisation (mcap) of BSE-listed companies was eroded by Rs 7,93,529.61 crore to Rs 3,94,25,823.46 (USD 4.75 trillion) in three days.

Rekha Jhunjhunwala cut stakes in these 4 stocks in March quarter. Do you own any?

Rekha Jhunjhunwala publicly holds 25 stocks with a net worth of over Rs 41,254.3 crore, according to Trendlyne data

Balkrishna Industries, Bandhan Bank among 5 stocks with top long unwinding

What is a Secular Bull Market?, How to Identify this Market

Discover what defines a secular bull market, its key characteristics, and how you can invest to capitalize on long-term growth trends.

Taming the Wild West of illegal online gambling in India

These betting platforms flout existing regulations, clearly evading direct and indirect tax laws and multiple other applicable laws of the land. Vulnerable users have fallen into the web and are getting trapped in debts

Down 16% in a month! Can this FTSE 100 stock recover in April?

Grabbing low-priced shares with long-term growth potential is an investor's dream. I think this FTSE 100 share may be an undervalued opportunity. The post Down 16% in a month! Can this FTSE 100 stock recover in April? appeared first on The Motley Fool UK.

Stock market update: Mining stocks down as market falls

The 30-share BSE Sensex closed down 456.1 points at 72943.68

Stock market update: Sugar stocks up as market falls

The 30-share BSE Sensex closed down 456.1 points at 72943.68

Stock market update: FMCG stocks up as market falls

The 30-share BSE Sensex closed down 456.1 points at 72943.68

Stock market update: Stocks that hit 52-week highs on NSE in today's trade

Ujaas Energy, Dynacons Sys, Uravi T and Wedge, AAA Technologies and Va Tech Wabag, hit their fresh 52-week highs during the day.

Stock market update: Nifty Bank index falls 0.6%

The Nifty Bank index closed 0.6 per cent down at 47484.8.

Here’s how Sunny Leone breaks barriers through her business ventures

Sunny Leone#39;s StarStruck is the first 100% celebrity-owned and operated cosmetic brand in India. Her love for food made Sunny an angel investor in the wellness brand, Rize Bars, and also made her venture into the hospitality sector with her maiden restaurant ‘Chica Loca’.

GQG increases stake in Patanjali Foods by nearly 4 times, stock jumps 5.3%

GQG had invested around Rs 2,400 crore for acquiring a 5.96% stake in the offer for sale of Patanjali in July 2023. The US-based investment firm has been increasing its exposure to India after investing in the Adani group. It holds positions in companies including ITC and Sun Pharmaceutical Industries.

Sensex falls! These stocks fell 5% or more in Tuesday's session

In the Nifty pack, 15 stocks closed in the green, while 34 stocks ended in the red.

Stock market update: Power stocks up as market falls

The 30-share BSE Sensex closed down 456.1 points at 72943.68

Stock market update: Fertilisers stocks up as market falls

The 30-share BSE Sensex closed down 456.1 points at 72943.68

Share market update: Most active stocks in today's market in terms of volume

The NSE Nifty index closed 124.6 points down at 22147.9

Star Surgical Shines as U.S. Outlook Improves for 2024

STAAR Surgical is increasing its outlook and guidance as demand for its signature IOL procedure increases with an aging population

Is Norwegian Cruise Lines Ready to Catch Up to Royal Caribbean?

After lagging behind rivals in the post-pandemic turnaround, Norwegian Cruise Lines appears to have a tailwind that could propel NCL stock to the top spot

Kinder Morgan Stock Bid Up In An Oil Breakout

Kinder Morgan is the oil stock that stood out to markets enough to bring its valuation to a premium above peers, and analysts still see a double-digit upside

Is Market Breadth Signaling THE TOP?!

In this edition of StockCharts TV's The Final Bar, Dave shows how bearish short-term breadth combined with the deterioration in long-term breadth lines up well with previous market tops. He then breaks down key levels for the S&P 500 index as well as MSFT, TSLA, and more.This video originally premiered on April 15, 2024. Watch on our dedicated Final Bar page on StockCharts TV!New episodes of The Final Bar premiere every weekday afternoon. You can view all previously recorded episodes at this link.

DP Trading Room: Final Earnings are In for 2023 Q4!

Carl opens the show with a view of the final earnings results for 2023 Q4! His chart reveals whether stocks are fair valued, overvalued or undervalued. Get his take on the current readings.Carl gave us his market overview including Bitcoin, Gold Miners, Gold and Crude Oil and many more. Next up was a look at the weekly charts for the Magnificent 7 stocks. Special time was devoted to Dividend Focused ETF, TBG.Carl and Erin both discussed Metals in general with a dive into the Materials sector after Erin's sector overview.Both covered your symbol requests!00:59 Earnings Outlook03:03 Market Overview12:09 Magnificent 715:29 TBG - Dividend Focused ETF16:52 Metals Discussion19:45 Sector Overview26:16 Symbol RequestsWatch the latest episode of the DecisionPointTrading Room on DP's YouTube channel here! Try us out for two weeks with a trial subscription! Use coupon code: DPTRIAL2 at checkout!Technical Analysis is a windsock, not a crystal ball. --Carl Swenlin(c) Copyright 2024 DecisionPoint.comDisclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.DecisionPoint is not a registered investment advisor. Investment and trading decisions are solely your responsibility. DecisionPoint newsletters, blogs or website materials should NOT be interpreted as a recommendation or solicitation to buy or sell any security or to take any specific action.Helpful DecisionPoint Links:Trend ModelsPrice Momentum Oscillator (PMO)On Balance VolumeSwenlin Trading Oscillators (STO-B and STO-V)ITBM and ITVMSCTR RankingBear Market Rules

Costco vs. Walmart: Revenue Comparison of Two Retail Giants

Costco and Walmart are 2 of the world's biggest retailers, but which is the better investment? Read more about these companies in our detailed breakdown.

When Will the Next Bull Market Be?

A solid understanding of bull markets can bring some clarity and help you make well-informed choices. So let's delve into the science behind bull markets.

Kraft Heinz Stock Comprehensive Analysis for 2024

Kraft Heinz is on track to resume dividend increases and may do so this year. Regardless, 2024 is a pivotal year for the business leading to accelerated growth.

5 Small-Cap Energy Stocks Surged in Price and Volume on Friday

As crude oil continues to surge, several small-cap energy stocks experienced significant price and volume surges on Friday.

Vital Farms Rides the Pasture-Raised Egg Trend to the Bank

Vital Farms Inc. (NASDAQ: VITL) sources and markets pasture-raised, cage-free, sustainable and ethical egg and dairy products at a premium.

Blackrock vs. State Street: Earnings in a Volatile Market

Blackrock's performance-driven growth contrasts with State Street's stability and innovation, offering investors distinct choices amidst market uncertainty.

Citi’s Results Say This About The Stock Market

Investors now have an inside look at what one of Wall Street's biggest names is doing with its money. Corporations and clients all see new highs in stocks

Video Gaming Rebound: Electronic Arts or Take-Two, Who Wins?

Two major video game publishers in the consumer discretionary sector, Electronic Arts and Take-Two, are benefitting the most from the rebound in video gaming.

Week Ahead: NIFTY May Stay Subdued Over the Truncated Week; Defensive Play May Seem Evident

Over the previous week, the markets were expected to inch higher; however, at the same time, while it was expected that incremental highs may be formed, it was also expected that a runaway move would not happen. Over the past four trading sessions, the markets traded precisely on these analyzed lines. The Nifty formed a fresh lifetime high of 22775, but at the same time, it came off from those highs as well. The trading range also got narrower as the Nifty oscillated in a 271-point range. Volatility increased slightly; India Vix rose marginally by 1.72% to 11.53. The headline Index Nifty closed flat with a negligible weekly gain of 5.70 points (-0.03%).The previous week was truncated as Thursday was a trading holiday on account of Eid-ul-Fitr. The coming week is also truncated, with Wednesday being a holiday on account of Ram Navmi. Due to this Banknifty Options has its shortest expiry as they would expire as early as Tuesday. The level of 22775 creates a new intermediate top for the markets; over the coming days, no runaway upmove is expected so long as the Nifty stays below this point. At the same time, the nearest support for the index exists much below the current levels at 20-week MA which is placed at 21827. By and large, the markets are likely to stay in a broad trading range.The markets may see a soft start to the week on Monday. The levels of 22650 and 22775 are likely to act as potential resistance points. The supports come in at 22400 and 22280 levels.The weekly RSI is at 69.87; it has crossed under 70 from the overbought zone. When subjected to pattern analysis, RSI continues to show negative divergence against the price. It has also formed a new 14-period low which is bearish. The weekly MACD is bearish and stays below its signal line.The pattern analysis shows that the Index has continued resisting the upward-rising trendline on the weekly charts. The upward-rising nature of the trendline is allowing the Nifty to form incremental highs; however, it is also providing strong resistance to the index as it tries to move higher. As of now, the Index has been resisting this pattern resistance every week, and this time it faced selling pressure as well. A bearish divergence on the RSI continues to exist; the nearest support for the Index may be found at the 20-week MA which is placed at 21827All in all, the risk-off setup might continue to persist for some time. Technical rebounds in the markets may be seen; however, it is strongly recommended that such rebounds be utilized to make exits and protect profits at higher levels. All fresh purchases may be kept limited to defensive pockets, and more emphasis must be placed on getting into stocks with stronger relative strength as such stocks tend to offer resilience during corrective times. Overall, while keeping leveraged exposures at modest levels, a cautious outlook is advised for the coming week.Sector Analysis for the coming weekIn our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.Relative Rotation Graphs (RRG) show a loss of relative momentum among many sectors that are placed inside the leading quadrant. The Nifty PSU Banks, Pharma, and Commodities are inside the leading quadrant. However, they are seen giving up on their relative momentum against the broader markets. The Metal Index and Auto Index seem relatively better placed inside the leading quadrant.The Nifty Energy and Infrastructure indices have rolled inside the weakening quadrant. They are likely to start slowing down on their relative outperformance. Besides these groups, the PSE and the Realty indices are also inside the weakening quadrant.The Nifty IT, Media, and FMCG indices stay inside the weakening quadrant. The Nifty Financial Services, Services Sector Index, Banknifty, and Consumption Index stay inside the improving quadrant and may offer resilient performance relative to the broader markets.Important Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.  Milan Vaishnav, CMT, MSTA Consulting Technical Analyst www.EquityResearch.asia | www.ChartWizard.ae

Keeping Up With The Jones - How Weakness in This Index May Foretell a Broader Market Correction

The Dow Jones Industrial Average fell 2.4% last week in a move that pushes this index further below its key 50-day simple moving average. While not the most widely followed index, the Dow has continued to evolve so that its 30 components more closely represent the current economy. Amazon's (AMZN) inclusion at the end of February is the latest modification, where it joins Apple (AAPL), Microsoft (MSFT), and Salesforce (CRM) to name just a few of the heavier-weighted names.Daily Chart of Dow Jones Industrial AverageLeading this index lower last week was a 7.4% decline in J.P. Morgan Chase (JPM), which fell following the release of their first quarter earnings on Friday. While the company's results were strong, CEO Dimon's tepid outlook for growth going forward pushed the stock lower. Among the risks cited by management were high inflation and the potential for the Federal Reserve to tighten monetary policy. Geopolitical risks were also mentioned.Most notable on JPM's chart, however, was the fact that it was trading at a new high in price prior to the release of their report.  In other words, the stock was priced for perfection, such that any hint of a possible slowing of growth pushed the stock sharply lower.Currently, we are at the very beginning of earnings season and, should we see a similar reaction to well-known companies reporting results while their stock is priced at a near-term high, we could be in for some tough sledding. Netflix (NFLX) is the next well-known company due to report next week, followed by Microsoft (MSFT), Alphabet (GOOGL), and Meta Platforms (META) the following week. Each of these stocks are trading at near-term highs and are susceptible to weakness amid any talk of a rise in interest rates.Comparative Chart of Dow, S&P 500 and NASDAQ - June 2023-CurrentAbove is a comparative chart of the Dow Jones Industrial Average versus the S&P 500 and the NASDAQ Composite. As highlighted, the Dow led the markets into a new uptrend, which began in early November. More recently, many of those winning stocks from the Dow are now in downtrends, after closing below their key 50-day simple moving average.These winners were from a broad cross-section of sectors, such as Industrials, Financials, and Consumer Discretionary, and include Home Depot (HD) and J.P. Morgan (JPM), to name just two. My screening showed the weakness that had been spreading in these sectors, as I removed several Retailers from my MEM Edge Report Suggested Holdings List over the past several weeks and took off Bank stocks earlier this week. The deterioration among these Discretionary, Financial, and Healthcare stocks from the Nasdaq and the S&P 500 may be harder to spot, given the large number of names in their index; however, my MEM Edge Report has been detailing the weakness for weeks now.Most important at this time is the fact that both the Nasdaq and S&P 500 are hovering above key support, and you'll want to preserve profits should we see a downtrend develop. While interest rates are a key determinant of investor sentiment, earnings reports have been proven to be more impactful. If you'd like to be kept up to date on the condition of the broader markets, as well as how to handle stocks depending on your investment horizon, use this link here to access my twice weekly report for 4 weeks for a nominal fee.Warmly,Mary Ellen McGonagleMEM Investment Research

MEM TV: Time To SELL EVERYTHING?!

In this episode of StockCharts TV's The MEM Edge, Mary Ellen shares key signals that it's time to sell a stock, using INTC as an example. She also reviews a key area of support for the markets, and new sectors that have entered a downtrend. She finishes up by showing how to compose a watchlist of names that can be bought once market pressures recede.This video originally premiered April 12, 2024. Click here or on the above image to watch on our dedicated MEM Edge page on StockCharts TV.New episodes of The MEM Edge premiere weekly on Fridays. You can view all previously recorded episodes at this link.If you're looking for stocks to invest in, be sure to check out the MEM Edge Report! This report gives you detailed information on the top sectors, industries and stocks so you can make informed investment decisions.

Using Outsized Moves to Identify Trend Reversals - Checking in on Housing and Semis

Trends often start with outsized moves. But how do we measure and identify such moves? Chartists can measure moves in Average True Range (ATR) terms using the ATR Trailing Stop SAR indicator (ATR-SAR). ATR is a volatility indicator developed by Welles Wilder. For example, a 4 ATR advance off a low would signal an outsized move that could jumpstart an uptrend. Conversely, a 4 ATR decline off a high would signal an outsized move that could jump-start a downtrend or corrective period. Today's report will highlight the outsized decline in the Home Construction ETF (ITB) and show this indicator for the Semiconductor ETF (SOXX). ATR-SAR is the bull/bear version of the ATR Trailing Stop, both of which are part of the TIP Indicator Edge Plugin for StockCharts ACP. SAR stands for "stop and reverse", which means the line switches sides with price breaks. When prices are rising, ATR-SAR is green and under the price. It acts as a trailing stop for a long position or an uptrend marker. When prices are falling, ATR-SAR is red and above price. It then acts as a stop for shorts or a downtrend marker. Let's look at an example using 22 periods for the Average True Range and 4 for the multiplier. The chart above shows the Home Construction ETF (ITB) with ATR-SAR (22,4). It turned green in November as ITB surged and broke out with an outsized advance. The ATR-SAR line turned green and remained 4 ATR(22) values below the highest close as prices rose. ITB fell sharply this week and broke the ATR-SAR line. This signals an outsized decline that could jump-start a downtrend or correction. Outsized declines can jump-start downtrends and outsized advances can jump-start uptrends. Notice that ITB held this ATR-SAR line from early November to early April. Declines during this period were less than 4 x ATR(22) values. The April decline broke this ATR-SAR line, meaning the decline was MORE than 4 x ATR(22) values. In other words, it was an outsized decline. Also notice that an outsized advance in early November jump-started the uptrend.  Elsewhere, the EW Consumer Discretionary ETF (RSPD) and the Retail SPDR (XRT) also fell sharply and broke their ATR-SAR (22,4) lines. These were highlighted in Thursday's report and video at TrendInvestorPro. This means three economically sensitive groups reversed their uptrends this month (consumer discretionary, housing and retail). Elsewhere note that the Software ETF (IGV), Cybersecurity ETF (CIBR) and Cloud Computing ETF (SKYY) broke their ATR-SAR lines on February 21st. The Technology SPDR (XLK), Mobile Payments ETF (IPAY) and Semiconductor ETF (SOXX) have yet to break their ATR-SAR lines. The chart above shows SOXX holding up better than ITB. TrendInvestorPro offers two services. First, System Trader provides fully quantified momentum strategies for trading Nasdaq 100 and S&P 500 stocks. These strategies are designed to identify leading stocks and hold them as long as they lead. Second, Chart Trader reports and videos focus on stocks and ETFs with uptrends and tradeable patterns. Each week we cover the overall market environment and then feature highly curated trading ideas. Click here to learn more and get immediate access. //////////////////////////////////////////////////

From Relic To Reckoning: Can Gold Surge To $3,000?

The strange thing about gold is that it's always a relic ... until it isn't. And when it isn't, everyone swears it's always been an alternative currency (why would anyone have thought it was a relic in the first place?).Relic or "sound money" reckoning, the yellow metal's surge—notching a record-high of $2395.60—stunned non-believing investors and even die-hard gold bugs. Here's the thing: some analysts are saying this record high is not the top but rather the bottom range.Why Are Some Analysts Claiming Gold Can Reach $3,000?$3,000 an ounce is 25% higher than the current price and a 64% rally from its last significant low in October 2023. But what would drive gold to such heights?Fiat currencies under pressure; financial repression (as BofA noted back in 2020)?Stubborn inflation; massive government debt (says European financial engineering firm, Mind Money)?BRICS de-dollarization efforts; new gold-backed currencies being issued across the globe—all aimed at challenging the US dollar's unipolar position?Let's take a look at the gold's macro price action.CHART 1. MONTHLY CHART OF $GOLD. Note its series of sideways fits and start leading up to its current parabolic rise. Chart source: StockCharts.com. For educational purposes only.Here's gold's trajectory starting with its 2016 low. Most of the time, the yellow metal traded within a fairly wide range between uptrends.Note the Chaikin Money Flow (CMF) highlighted in blue circles. This indicates momentum via buying pressure.In 2016, buying pressure rose after gold had established its high (institutional buying?) but selling pressure got nowhere near the depth it did before reaching that high.In 2019, CMF levels again broke above the zero line, this time followed by a mighty breakout (see black dashed line) and rally as the Fed's repo market injections were likely perceived as yet another form of quantitative easing.And in late 2023, despite high valuations but amid escalating geopolitical risks and de-dollarization worries, the CMF broke above the zero line again, leading to the incredible surge we saw over the last two months.Here's the big question ...Is 2023's Price Ceiling the New Price Floor for 2024 and Beyond?  Currently, analysts from leading banks are revising their gold forecasts noting the clash between short-term economic shifts and deeper geopolitical fractures are rendering traditional valuation metrics obsolete.Let's take a look at the current price action.CHART 2. DAILY CHART OF $GOLD. Note the parabolic move that's losing momentum. Chart source: StockCharts.com. For educational purposes.If you've been following national news, you're probably aware that gold bullion sells like hotcakes at Costco. What does this say? Despite its sky-high valuations, it tells us there's a frantic retail dash for gold.Still, there are many technical and fundamental reasons to expect a pullback. For starters, sticky inflation (did you see the latest CPI and PPI report?) indicates the possibility of interest rates being higher for longer. The Money Flow Index (MFI), a volume-weighted RSI, is well within "overbought" territory.The CMF, this time on a daily scale, has dipped into "selling pressure" territory.Yet, there are many reasons to be bullish on gold—technically, from a macro perspective (as you can see in the monthly chart above) and fundamentally, as discussed at the top of this article.Keep an eye on $2,100—that's the 2023 resistance level. Will it provide support for a next leg up?  When prices dip, what if it doesn't sink to that level? In this case, watch the most current swing low at $2,150 in conjunction with the Kumo range of the Ichimoku Cloud.Gold is the Fear TradeGold's rally to $2,395.60 and the whispers of a potential climb to $3,000 mark a seismic shift in how investors view the age-old asset. It also reflects fears surrounding the economy, the future status of the dollar amid de-dollarization, and dwindling faith in the Federal Reserve's capacity to implement sound monetary policy.Gold is the fear trade. And if you're bullish on gold and monitoring all of the fundamental and geopolitical news affecting its valuations, now you have the technical context to get the 360-degree view you need to make your own forecast.Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

JPM, WFC, C: Here’s a look at how these major banks performed in Q1 2024

Banking giants JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Company (NYSE: WFC), and Citigroup Inc. (NYSE: C) reported their earnings results for the first quarter of 2024 on […] The post JPM, WFC, C: Here’s a look at how these major banks performed in Q1 2024 first appeared on AlphaStreet.

BLK Earnings: BlackRock reports double-digit growth in Q1 revenue and profit

BlackRock, Inc. (NYSE: BLK) Friday reported a sharp increase in adjusted profit for the first quarter of 2024 when the asset management company’s revenues grew 11%. First-quarter adjusted earnings increased […] The post BLK Earnings: BlackRock reports double-digit growth in Q1 revenue and profit first appeared on AlphaStreet.

WFC Earnings: Key quarterly highlights from Wells Fargo’s Q1 2024 financial results

Wells Fargo & Company (NYSE: WFC) reported first quarter 2024 earnings results today. Total revenue rose 1% year-over-year to $20.8 billion. Net income decreased 7% to $4.6 billion while EPS […] The post WFC Earnings: Key quarterly highlights from Wells Fargo’s Q1 2024 financial results first appeared on AlphaStreet.

Market Research and Analysis - Part 5: Drawdown Analysis

Note to the reader: This is the sixteenth in a series of articles I'm publishing here taken from my book, "Investing with the Trend." Hopefully, you will find this content useful. Market myths are generally perpetuated by repetition, misleading symbolic connections, and the complete ignorance of facts. The world of finance is full of such tendencies, and here, you'll see some examples. Please keep in mind that not all of these examples are totally misleading -- they are sometimes valid -- but have too many holes in them to be worthwhile as investment concepts. And not all are directly related to investing and finance. Enjoy! - GregWhile the world of finance believes risk is measured by volatility (standard deviation), it is my belief that loss of capital is risk, and not volatility.In Figure 11.1, example A ends where it begins with zero gain or loss, yet modern finance says it is risky because it is volatile. Example B shows the end price lower than the beginning price, so it shows a loss; modern finance, in this instance, would say there is no risk because there is no volatility. I think you can draw your own conclusions.Volatility can contribute to risk, but it also can contribute to price gains. Loss of capital is simple and reasonable to use as a risk measure, and in this chapter, risk is defined by drawdown.What Is Drawdown?Drawdown is the percentage that price has moved down from its previous all-time high price.Drawdown is risk.Drawdown is systematic risk.Drawdown is loss of capital.Drawdown can last longer than you can.Drawdown can ruin your retirement plans.Drawdown TerminologyThe following describes the nomenclature used in Figure 11.2. Drawdown Magnitude is the percentage that price has moved down from its previous all-time high.Drawdown Decline is the amount of time the market declined from an all-time high to the trough.Drawdown Duration is the total amount of time that it took the price to recover to is previous all-time high.Drawdown Recovery is the time it took from the trough to get back to an all-time high.Although the terminology for drawdowns is subjective, I'll stick with the ones that Sam Stovall (Standard & Poor's) uses, as they are as good as any. I have often thought one more term for bear markets greater than -40% would be good, such as Super Bear, but I have other battles to fight. See Table 11.1.The Mathematics of Drawdown and Equivalent ReturnRecovering from a severe drawdown takes an extraordinary return just to get back to where you were. This is sometimes referred to as equivalent return and is represented by this formula:          Percent Drawdown /(1 – Percent Drawdown ) - 1If you don't have a calculator or table handy, just divide the percent decline by its complement (100 – percent), and then mentally place the decimal in the appropriate place. This is best done in privacy and not on a stage in front of many people.From Figure 11.3, you can see that if you lose 50%, then it takes a 100% gain to get back to even. When was the last time you doubled your money? A 100% gain is the same as doubling your money. The bear market that began on October 9, 2007 dropped more than 55%; you can see that to recover. it takes a gain of more than 122% to get back to even. One thing the graphic clearly shows is that, the larger the loss, the greater the gain required to recover.Cumulative DrawdownFigure 11.4 is an example of cumulative drawdown. The line that moves across the tops of the price data (top plot) only moves up with the data and sideways when the data does not move up; in other words, it is constantly reflecting the price's all-time high value. The bottom plot is the percentage decline from that all-time high line. Whenever that line is at the top, it means that price in the top plot is at its all-time high. As the line in the bottom plot declines, it moves in percentages of where it was last at its all-time high price.In the example shown, a new all-time high in price is reached at the vertical line labeled A. The bottom plot shows that, as prices move down from that point, the drawdown also moves in conjunction with price. The horizontal line that goes through the lower part of the drawdown plot is at -10%. You can't read the dates at the bottom, but it took almost six months before the prices recovered to point B and then moved above the level they had reached at point A. This is an example of drawdown that had a magnitude of -17%, shown by the lowest point reached on the drawdown line in the bottom plot. The drawdown also lasted (duration) almost six months, as shown by the time between line A and line B.Figure 11.5 shows the percentage of drawdown over the entire history of the Dow Industrials since 1885. The top portion is the Dow Industrials, plotted using semi-log scaling, and the bottom plot is the drawdown percentage. The darker horizontal line through the bottom plot is the mean or average of the drawdown over the full time period since 1885. Its value is -22.1%. The other horizontal lines are shown at zero (top line), -20%, -35%, -50%, and -65%, I think the thing that stands out from this chart is that the period from 1929 through 1954 suffered an enormous drawdown, not only in magnitude but also in duration. The low was on June 28, 1932 at -88.67%. The equivalent return to get back to even from that point was a gain of more than 783%. That is why it took almost 25 years to accomplish.Because the Depression-era drawdown distorts the other drawdowns, Figure 11.6 shows exactly the same data since about 1954, eliminating the scaling effect from the -88% Depression-era drawdown. The drawdown in 2008 clearly stands out as the biggest in modern times at -53.78% on March 9, 2009. As of this writing (in 2013), that drawdown has yet to recover. It[…]

NVDA is Holding Strong: It's Time to Think About Accumulating this Stock

Sometimes, it helps to look at a stock like NVDA to get a pulse of the market.NVDA's stock price is up over 85% in 2024. It's a leader in the AI ecosystem and the most talked-about stock. So what does the future hold for NVDA in terms of its stock price and the company at large? How much will competition from Alphabet, Inc. (GOOGL) and other AI chipmakers impact the stock's price? A Deep Dive Into NVDA's Stock PriceSome investors may have feared rising competition for NVDA from competitors such as Alphabet (GOOGL), Intel (INTC), and other AI chipmakers. This led some investors to rush to sell the stock. As a result, NVDA's stock price entered correction territory, which attracted investors to buy the dip.Let's examine the NVDA's stock price chart closely to identify potential entry points or ways to invest.If you look at a five-year weekly chart of NVDA stock below, it's clear that the stock price has been rising from June 2019 until November 2021. For the most part, NVDA's stock price remained above its 20-week simple moving average (SMA). When NVDA broke below this SMA, it found support at its 50-week SMA. Yet when the stock price broke below the 50-week SMA on April 11, 2022, the stock price corrected. It was in correction territory for about six months.CHART 1. WEEKLY CHART OF NVDA STOCK. With a high StockCharts Technical Rank (SCTR) ranking and relative strength vs. the S&P 500, NVDA is a strong stock. It's trending up and went through a minor correction.Chart source: StockChartsACP. For educational purposes.After NVDA stock broke above the downward-sloping trending (dashed blue lines) in November 2022, it moved sideways for a couple of months. After the stock price broke above the 50-week SMA on January 23, 2023, the uptrend resumed, and the stock continued higher, notching new all-time highs.Looking at NVDA's stock price now, it's far from its 20-week SMA. The stock has a StockCharts Technical Rank (SCTR) score of 98.2 (upper panel), which suggests that NVDA is still strong. NVDA's relative strength compared to the S&P 500 ($SPX) is above 950% (lower chart panel). There's no sign of weakness in NVDA.Turning to the daily chart, NVDA stock hit a resistance level on March 25, 2024 (the previous high of March 8, 2024) and has moved lower since then. The stock price was trading within a downward-sloping channel (dashed black lines) and below its 20-day SMA. But it has broken above the downward sloping trending channel and is just above its 20-day SMA. The stock price bounced off the support of the retracement from its March high (lower horizontal line). Its next resistance is the high of March 25, 2024. If the stock price breaks above this resistance level, NVDA's stock price could continue a bullish rally of hitting new all-time highs.CHART 2. DAILY CHART OF NVDA STOCK. After hitting resistance, NVDA pulled back, with the price declining within a narrow downward-sloping price channel. The stock has now broken out of the channel and is trading slightly above its 20-day SMA.Chart source: StockChartsACP. For educational purposes.NVDA's stock price is strong even when the broader market may show slight signs of corrective behavior. So, despite hotter-than-expected CPI data and the possibility of fewer than three interest rate cuts in 2024, investors are still optimistic about the stock market.Getting a Piece of NVDALooking at the underlying strength of the macroeconomic environment and assuming earnings season goes well, the stock market may continue its bullish trajectory. The stock could move sideways for a while before resuming its bullish trend. It all depends on investor sentiment. Another scenario that could play out is that NVDA could go through a correction similar to the one that started in April 2023. That would mean NVDA's stock price would have to break below its 20-week SMA, now at around $686—a long way from where the stock is trading. It would take a lot for the stock to drop that low.Since anything can happen in the stock market, it's best to be prepared for any scenario. Either way, a pullback would be an excellent opportunity to buy the stock. NVDA's stock price is around $900 per share, which could be costly, especially if you want to buy a substantial number of shares.A couple of exchange-traded funds (ETFs) with significant NVDA exposure are the VanEck Semiconductor ETF (SMH) and the Grizzle Growth ETF (DARP). Another way to invest is in mutual funds with substantial exposure to NVDA. Fidelity Growth Company (FDGRX), Dunham Focused Large Cap Growth (DNFGX), and Baron Fifth Avenue Growth Retail (BFTHX) are a few to consider.Think of what exposure to a stock like NVDA would do to your portfolio!Disclaimer: This blog is for educational purposes only and should not be construed as financial advice. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Earnings Preview: UnitedHealth (UNH) looks poised to deliver another strong quarter

After delivering a solid performance last year, UnitedHealth Group (NYSE: UNH) will be reporting first-quarter financial data next week. The healthcare conglomerate’s business growth accelerated in recent years, driven mainly […] The post Earnings Preview: UnitedHealth (UNH) looks poised to deliver another strong quarter first appeared on AlphaStreet.

FAST Earnings: Fastenal reports modest growth in Q1 revenue and profit

Fastenal Company (NASDAQ: FAST) on Thursday announced first-quarter 2024 financial results, reporting higher sales and net income. Net income was $297.7 million or $0.52 per share in the first quarter of […] The post FAST Earnings: Fastenal reports modest growth in Q1 revenue and profit first appeared on AlphaStreet.

Is the Banking System on the Verge of Systemic Implosion? What to Look Out For

2024 will be marked by a massive string of bank failures!!! Well, according to a few economists on the far end of the mainstream economic spectrum, that is.This sounds alarming, of course, but does the fringe position of its proponents invalidate the thesis?No Bank Is Safe, as Nearly Every Bank Is InsolventThe core reason for this impending catastrophe can be linked to the insolvency of almost every bank.But how's that even possible? How can they fundamentally validate such an outlandish claim? It's the consequence of the Federal Reserve's interest rate policies. With interest rates soaring, the value of banks' government debt holdings is substantially underwater—enough to drown banks' reserves in a sea of red.So what's the big takeaway from the doom-and-gloom pulpit? It's this: the big implosion is coming, and it's happening this year."But hold on," the moderate view says, "Not so fast; it can't be that bad, even if the outcome isn't all that good."Let's be objective, starting with: What do the technicals say?The Macro View: Too-Big-To-Fail and Regional BanksWhile the risk of a few more bank failures is plausible (since a few tend to happen each year, on average and on a regional level), a string of failures triggering a systemic banking crisis is something else. Can it happen?CHART 1. PERFCHART OF SMALL AND LARGER BANKS AND THE S&P 500. Note their rapid recovery since the March 2023 banking crisis (quickly stemmed by the Federal Reserve's Bank Term Funding Program, which ended on March 11, 2024).Chart source: StockCharts.com. For educational purposes.Last year, Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank collapsed, triggering what would have been a much larger crisis had the Federal Reserve not stepped in with its Bank Term Funding Program (BTFP). BTFP aimed to stabilize the banking system by providing loans to banks and credit unions against collateral like US Treasuries and mortgage-backed securities valued at par.Looking at the chart, you can see how large banks (using KBE and $DJUSBK as proxies) and regional banks (using KRE as a proxy) underwent a rapid recovery. Compared to a year ago, large banks are outperforming the S&P 500 ($SPX) while regional banks, the laggards, are well within positive territory.The Channel BrokeCHART 2. DAILY CHART OF KBE. Price just broke below the upward trend channel, but the drop in momentum might have forecasted this decline a month ago.Chart source: StockCharts.com. For educational purposes.Momentum for KBE, an industry proxy for large banks, began hinting at a bearish divergence in momentum in early March based on the Chaikin Money Flow's (CMF) extreme downward slope into negative territory. Its rise against the S&P 500 was tepid and steady, but its underperformance against the Dow Jones US Bank Index was as silent as it was foreboding.KBE finally broke below its uptrend price channel, and the next set of support levels are at the $41, $39, and $37 range. The current decline was triggered by Wednesday's negative  Consumer Price Index (CPI) results, soon to be followed by Thursday's Producer Price Index (PPI) numbers. How low can KBE drop? Pay attention to the current earnings season—read the figures,  analyze CEO-issued guidance, and consider (if it's sensible enough) a few analyst forecasts that aren't just following (or regurgitating) mainstream opinions.What about regional banks?CHART 3. DAILY CHART OF KRE. Regional banks are drastically underperforming their larger counterparts in the banking sector. Chart source: StockCharts.com. For educational purposes.On March 27, the article KRE's Impending Plunge: What This Emerging Crisis Means forecasted this decline based on similar technical and fundamental assessments. You can see the divergence between KRE's price and the CMF. What wasn't discussed, though, was KRE's silent (through drastic) underperformance against its larger banking sector counterpart ($DJUSBK). The potential support levels are also outlined in the chart above ($45, $44, and $43 range) though its continuing slide, and whether it plunges further will be driven by fundamental conditions. Like KBE, pay attention to the current earnings season's figures and news.Is the Implosion Coming?In the shadow of last year's banking failures, several economists from the margins of mainstream forecasts ominously predict a widespread banking collapse in 2024. This dire prediction is rooted in the belief that nearly every bank teeters on the brink of insolvency, a crisis precipitated by the Federal Reserve's interest rate policies, which have left banks' reserves vulnerable due to devalued government debt holdings.Of course, this could all be alarmist rhetoric. But if it does play out, partially or entirely, the technical levels and indicators at play can help you navigate the circumstances should you decide to take action, whether it's bullish or bearish.Disclaimer: The content in this article is the writer's opinion and does not constitute financial advice. StockCharts.com does not endorse or guarantee any claims made in this article. The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.

Week Ahead: NIFTY May Continue Finding Resistance at Higher Levels; These Sectors May Relatively Outperform

In the previous technical note, it was categorically mentioned that, while the markets may attempt to inch higher, they may not form anything beyond minor incremental highs and could largely continue to stay under consolidation. In line with the analysis, the Nifty did form a new lifetime high, but eventually continued to consolidate and avoid any strong move on the upside. The markets had a modest trading range; the index oscillated in a 315-point range over the past five sessions. The volatility slipped further; Indiavix came off by 11.65% to 11.34. The headline index closed with a modest weekly gain of 186.80 points (+0.84%).From a technical perspective, the Nifty will need to move past the 22550-22600 zone with a strong thrust for any sustainable move to take place. Further, the Options data also suggests that strong Call OI built up in this zone may continue to pose resistance for the markets. A sustainable uptrend would commence only after the Index moves past this zone; until this happens, we may see the markets finding selling pressure at higher levels, increasing the need for vigilant protection of profits until a fresh breakout is achieved.A quiet start is expected to the new week; the levels of 22600 and 22790 would act as potential resistance levels. Supports come in at 22380 and 22100 levels. The trading range is likely to stay modest over the coming week.The weekly RSI is 69.81; it continues to show a mild bearish divergence against the price. The weekly MACD is bearish and trading below its signal line.A spinning top occurred on the candles. Such candles typically have small real bodies because of how little difference there is between the open and close price, showing the indecisiveness of the market participants. Such formations, if they occur near the highs, often have the potential to stall the upmoves.The pattern analysis of the weekly charts shows the markets being in a firm uptrend. However, that being said, the markets are also exhibiting signs of fatigue at higher levels. They are also showing a minor loss of internal strength as they mark incremental highs along with minor negative divergences. All and all, while the trend continues to stay intact, there is a possibility of the markets staying under some ranged consolidation. The nearest support for the Nifty exists at 20-week MA which is placed at 21691.All in all, we are likely to see some risk-off setup in the markets. We can expect defensive pockets like Pharma, IT, FMCG, etc., to offer better relative strength than the others. However, the banking space is likely to stay resilient as well. It is strongly recommended that, unless a strong breakout is achieved, with Nifty moving past the 22550-22600 zone via a thrust, all up moves must be used to protect profits at higher levels. Low levels of VIX remain a concern and may infuse some spikes in volatility. A cautious approach with one eye on the protection of gains is advised for the coming week.Sector Analysis for the Coming WeekIn our look at Relative Rotation Graphs®, we compared various sectors against CNX500 (NIFTY 500 Index), which represents over 95% of the free float market cap of all the stocks listed.Relative Rotation Graphs (RRG) show that the Nifty Commodities, Energy, and Infrastructure indices are inside the leading quadrant. However, they are seen giving up on their relative momentum. Besides these groups, PSU Banks, Pharma, and Auto groups are inside the leading quadrant. The Metal index has also rolled inside the leading quadrant; these groups are set to relatively outperform the broader markets.The Nifty PSE index has rolled inside the weakening quadrant. Besides this, the Midcap 100 and the Realty Indices are also inside the weakening quadrant.The Nifty IT has rolled inside the weakening quadrant. The Nifty FMCG and Media indices also continue to languish inside the weakening quadrant. The Services sector index is also inside this quadrant but it is seen improving on its relative momentum.While the Nifty Consumption Index is inside the improving quadrant, the BankNifty and Financial Services index has rolled inside the improving quadrant, hinting at a potential end to their relative underperformance.Important Note: RRG™ charts show the relative strength and momentum of a group of stocks. In the above Chart, they show relative performance against NIFTY500 Index (Broader Markets) and should not be used directly as buy or sell signals.Milan Vaishnav, CMT, MSTA Consulting Technical Analystwww.EquityResearch.asia | www.ChartWizard.ae