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This FTSE 100 share looks too cheap to ignore!

May 8, 2024 | 09:58 am

Selling for pennies and with a big dividend coming, this FTSE 100 share could be a value trap. Our writer explains why, instead, he sees it as a bargain. The post This FTSE 100 share looks too cheap to ignore! appeared first on The Motley Fool UK.

Boeing’s Starliner launch pushed back to May 17 for first crewed mission

May 8, 2024 | 09:52 am

The historic first crewed launch of Boeing Co.’s Starliner spacecraft will take place no earlier than May 17, after Monday’s launch attempt was scrubbed two hours before takeoff.

Fed’s Collins says she’s not surprised by unwelcome inflation data

May 8, 2024 | 09:51 am

Boston Fed President Susan Collins said Wednesday that she wasn’t surprised by the unwelcome news on inflation given the rapid progress seen last year, but she added that the economy needs to slow more in order to cool price pressures in the coming months.

The hot new hangout for retirees: senior centers

May 8, 2024 | 09:37 am

Modernized senior centers offer activities and community for a growing population

Icahn Enterprises says it will keep paying its $1 quarterly dividend

May 8, 2024 | 09:30 am

Carl Icahn’s investing arm narrowed its loss in the first quarter even as revenue fell.

Shopify’s stock slides 19% after company swings to quarterly loss

May 8, 2024 | 09:27 am

Shopify is expecting its gross margin to shrink by 50 basis points in the second quarter.

Lucid’s Stock Price is Still in Reverse: New Lows Are Coming

May 8, 2024 | 09:03 am

Lucid Group increased deliveries and revenue but fell short of consensus and lost more than expected as R&D spending cut into results.

Angry shoppers are fighting back against inflation — even the wealthy ones. Companies are feeling it.

May 8, 2024 | 09:02 am

“Let’s stop buying from these jokers,” one consumer said. “I bet they reduce these prices real quick.”

Forget the Social Security crisis. Medicare funding could be a much bigger problem.

May 8, 2024 | 09:01 am

Your healthcare is still on the line, even if Medicare Part A’s funding will be depleted five years later than expected.

Market Trading Guide: Tata Communications, Motherson Sumi Wiring among 5 stock recommendations for Thursday

May 8, 2024 | 08:51 am

Declining for the second straight session, the 30-share BSE Sensex fell 0.06% to settle at 73,466. The NSE Nifty remained unchanged at 22,302.50.

I’d stuff my ISA with bargains by looking for these 3 things!

May 8, 2024 | 08:50 am

Our writer explains how he aims to find real long-term bargain buys for his ISA by considering a trio of factors each time he invests. The post I’d stuff my ISA with bargains by looking for these 3 things! appeared first on The Motley Fool UK.

Here’s why Rivian is still a ‘show-me story’

May 8, 2024 | 08:48 am

Rivian Automotive Inc.’s stock may regain investor interest if the electric-vehicle maker achieves a measure of profitability later this year, but for now most Wall Street analysts remain on the sidelines.

India Shelter Finance Corporation Q4 Results: Net profit soars 47% YoY to Rs 78 crore

May 8, 2024 | 08:48 am

The mortgage lender, which got its shares listed on December 20 last year, said its assets under management rose to Rs 6084 crore at the end of March. The company, which is active in the affordable housing space, operates out of 223 branches in 15 states.

Applebee’s and IHOP parent suffers rare profit miss as consumers remain cautious

May 8, 2024 | 08:45 am

Stock falls premarket as same-restaurant sales for both Applebee’s and IHOP chains fell more than expected.

Ahead of Market: 10 things that will decide D-Street action on Thursday

May 8, 2024 | 08:45 am

Nifty on Wednesday ended flat to form a high wave type candle pattern, which indicates chances of an upside bounce. The positive chart pattern like higher tops and bottoms is intact as per daily time frame chart and presently the market is in an attempt of new higher bottom formation.

Generac Powers Ahead on the Electrification Mega-Trend

May 8, 2024 | 08:43 am

Backup power generation systems provider Generac Holdings Inc. (NYSE: GNRC) is attempting to recover from its Q1 2024 earnings selloff.

Don’t even think about renting in NYC or Boston unless you make well over $100,000 a year

May 8, 2024 | 08:38 am

A new Zillow report reveals exactly how much annual income someone needs to comfortably pay the exorbitant housing costs in the Big Apple and other major cities.

Tripadvisor stock sinks 38% as panel rules out sale for now

May 8, 2024 | 08:38 am

Tripadvisor first disclosed in February that Liberty TripAdvisor Holdings, its controlling shareholder, had been approached by at least one bidder for its controlling stake in the travel agency.

Shopify's downbeat revenue growth forecast sends shares plunging 20% to six-month low

May 8, 2024 | 08:36 am

The Toronto-listed shares hit their lowest in six months and the company was on track to lose C$25 billion ($18.21 billion) in market value as the dour outlook overshadowed a first-quarter beat.

L&T Q4 Results: Net profit rises 10% YoY to Rs 4,396 crore

May 8, 2024 | 08:31 am

Consolidated revenue for the quarter stood at Rs 67,079 crore, up 15% on a year-on-year basis. The share of international revenues during the quarter was 45%. CFO said order inflows in Q1 and Q2 of FY25 will be muted.

Up over 50% in 2024, could this penny share keep going?

May 8, 2024 | 08:29 am

This penny share has more than tripled in a couple of years. Our writer sees some reasons to like it -- but is he ready to invest? The post Up over 50% in 2024, could this penny share keep going? appeared first on The Motley Fool UK.

Home First Finance Company Q4 Results: Net profit leaps 30% YoY to Rs 83.5 crore

May 8, 2024 | 08:26 am

Quarterly interest income for the company was at Rs 283 crore, registering a 38% year-on-year rise. Total income was also 38% higher at Rs 318 crore.

Could the stock market keep rising in 2024?

May 8, 2024 | 08:10 am

Christopher Ruane reckons that although some stock market indexes have been doing well, he can still find potential bargains for his ISA. The post Could the stock market keep rising in 2024? appeared first on The Motley Fool UK.

TVS Motor Company Q4 Results: Net profit jumps 18% YoY to Rs 485 crore

May 8, 2024 | 08:03 am

TVS Motor Company’s revenue from operations in the quarter under review grew by 24% to Rs 8,169 crore as against Rs 6,605 crore registered in the quarter ended March 2023.

PulteGroup Wins and Wins More on Interest Rate Cuts

May 8, 2024 | 07:46 am

Despite a soft housing market, PulteGroup is thriving as new home sales rose 8.8% in March 2024, while existing home sales fell 4.3% to 4.3 million.

Tata Power Q4 Results: Net profit jumps 11% YoY to Rs 1,045 crore

May 8, 2024 | 07:42 am

During the quarter, net profit came in at Rs 1045.5 crore against Rs 938.8 crore reported in the fourth quarter of the last fiscal year.

Westlife Foodworld Q4 Results: PAT slides 96% to Rs 76.35 lakh

May 8, 2024 | 07:37 am

Consolidated total income in the fourth quarter stood at Rs 567.47 crore as against Rs 561.96 crore in the year-ago period, it added.

Uber shares tumble 9% on surprise net loss, weak second-quarter forecast

May 8, 2024 | 07:34 am

The report suggests that Uber's growth could be slowing after a strong 2023 in which it dominated the U.S. ride-share market and delivery business and posted its first annual profit.

7 stocks from Nifty Next 50 index that have surged up to 379% from their lows

May 8, 2024 | 07:26 am

According to Prabhudas Lilladher, these emerging giants hold immense potential.

Earnings Summary: A snapshot of Expeditors International’s Q1 results

May 8, 2024 | 07:16 am

Logistics company Expeditors International of Washington, Inc. (NASDAQ: EXPD) has announced financial results for the first quarter of 2024, reporting a decrease in revenue and net income. First-quarter revenues dropped […] The post Earnings Summary: A snapshot of Expeditors International’s Q1 results first appeared on AlphaStreet.

Puma Q1 Results: German sportswear company returns to sales growth in Americas despite 'volatile' market

May 8, 2024 | 07:12 am

Currency-adjusted sales rose 0.5% to 2.10 billion euros ($2.26 billion), in line with the 2.1 billion expected by analysts, Refinitiv data showed.

Could the Lloyds share price reach 60p in 2024?

May 8, 2024 | 07:02 am

The Lloyds share price has got off to a strong start in 2024. But could it reach 60p by the time the year is over? This Fool explores. The post Could the Lloyds share price reach 60p in 2024? appeared first on The Motley Fool UK.

Promoter pledged holdings decline in March quarter: Lemon Tree Hotels, Tata Communications, among others with highest drop

May 8, 2024 | 06:59 am

Bharat Forge, Lemon Tree Hotels, and Tata Communications completely released their pledged holdings from 7.1%, 3.3%, and 3.1%, respectively in the December quarter.

What’s going on with Tesla shares?

May 8, 2024 | 06:54 am

There's little doubt that Tesla shares are one of the most widely discussed and controversial on the market, but am I still a fan amid recent volatility? The post What’s going on with Tesla shares? appeared first on The Motley Fool UK.

Earnings Summary: Highlights of Fox Corp.’s Q3 2024 financial results

May 8, 2024 | 06:49 am

Media and entertainment company Fox Corporation (NASDAQ: FOXA, FOX) Wednesday reported financial results for the three months ended March 31, 2024. Third-quarter revenues decreased 15% to $3.45 billion from the […] The post Earnings Summary: Highlights of Fox Corp.’s Q3 2024 financial results first appeared on AlphaStreet.

Why Novo Nordisk's Stock Price Recovery Makes It a Promising Buy

May 8, 2024 | 06:44 am

Novo Nordisk (NVO) reported Q1 earnings on May 2. Even though it was a positive report, sales of its weight-loss drug Wegovy came in below expectations, causing the NVO stock price to fall lower.The selloff may have been an initial and short-lived reaction, as NVO pivoted and gapped up on Monday. Maybe investors realized that the stock was a bargain, given that overall sales are strong, as are sales of Ozempic, its diabetic drug. The stock was filtered in the StockCharts Technical Rank (SCTR) crossing scan, which looks for stocks crossing above the 76, 79, and 80 levels. The logic behind the scan is to find stocks that are beginning to gain strength and could potentially be good candidates to add to your portfolio.Novo Nordisk's Technical OutlookFollow the live chart.Let's analyze the charts of Novo Nordisk stock.The five-year weekly chart of NVO below shows the stock is trending upward, particularly since October 2022.CHART 1. WEEKLY CHART OF NOVO NORDISK. The stock price has been trending higher and is now pulling back. Could it break out higher and reach its all-time high?Chart source: StockCharts.com. For educational purposes.For the most part, NVO has traded above its 20-week simple moving average (SMA). The stock pulled back while the overall market was pulling back. What's interesting in NVO's pullback is that it started looking like a flag pattern, but then moved sideways.Follow the live chart.The daily chart below shows a more granular picture. The upward trend stalled, but recovered. The stock price is at its 50-day SMA with slightly higher volume.CHART 2. DAILY CHART OF NOVO NORDISK. If the stock price moves above the 50-day moving average on strong follow-through, the price could reach and move above its all-time high.Chart source: StockCharts.com. For educational purposes.The relative strength index (RSI) in the lower panel is slightly above 50, indicating that, if the stock moves higher, it has room to move before hitting overbought territory. The SCTR line in the top panel has crossed above the 70 line, another positive for the stock.If NVO continues moving higher, accompanied by a rising RSI and SCTR, the odds of the stock price hitting its all-time high are good. If the upward price movement has strong follow-through, the stock could also hit new all-time highs.With all stocks, you'll have to look at the other side of the coin. What if NVO fails to hold the support of its 50-day SMA? It could fall to its 100-day SMA, which at this point coincides with previous support levels. If the SCTR dips below 50 and RSI moves below 30, the probability of an uptrend will reduce significantly.The TakeawayWhen you see a stock you like, it's a good idea to add it to one of your ChartLists. All charts may not move in the direction you expect them to go, but the weekly and daily chart of NVO are worth watching. Novo Nordisk's stock has potential to rise further and, if it does, your portfolio could get a nice boost.SCTR Crossing Scan[country is US] and [sma(20,volume) > 100000] and [[SCTR.us.etf x 76] or [SCTR.large x 76] or [SCTR.us.etf x 78] or [SCTR.large x 78] or [SCTR.us.etf x 80] or [SCTR.large x 80]]Credit goes to Greg Schnell, CMT, MFTA.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.

US stocks open lower as megacaps drag

May 8, 2024 | 06:36 am

The Dow Jones Industrial Average fell 65.4 points, or 0.17%, at the open to 38818.9.

Earnings Summary: Emerson Electric (EMR) reports Q2 2024 financial results

May 8, 2024 | 06:28 am

Software company Emerson Electric Co. (NYSE: EMR) on Wednesday reported higher net sales and adjusted earnings for the second quarter of 2024. Second-quarter net sales increased 17% annually to $4.38 […] The post Earnings Summary: Emerson Electric (EMR) reports Q2 2024 financial results first appeared on AlphaStreet.

How to Read an Earnings Report | Step by Step Guide with Tips

May 8, 2024 | 06:00 am

Learn how to read an earnings report, from understanding key components to analyzing data in order to make informed investment decisions.

BSE declares dividend of Rs 15 per share, sets record date

May 8, 2024 | 05:52 am

Shares of companies usually trade ex-dividend on the day or a day before the record date. When a company goes ex-dividend on a particular date, its stock does not carry the value of the next dividend payment. An ex-dividend date also dictates which shareholders are eligible to receive the dividend payment.

Datadog: In the Doghouse or Pullback to the Buyzone?

May 8, 2024 | 05:30 am

Datadog had a solid quarter, with growth in large customers driving gains. Guidance is tepid but compared to high expectations. The stock is down; buy the dip.

Betting on the future: 3 AI stocks I’ve gone ‘all in’ on

May 8, 2024 | 05:23 am

Edward Sheldon has built up large positions in these AI stocks as he feels that they're going to be good investments in the long run. The post Betting on the future: 3 AI stocks I’ve gone ‘all in’ on appeared first on The Motley Fool UK.

Uber Technologies reports wider loss for Q1 2024; revenue up 15%

May 8, 2024 | 05:23 am

Uber Technologies, Inc. (NYSE: UBER) on Wednesday reported a wider net loss for the first quarter of 2024. Revenues of the ride-sharing giant increased 15% during the three months. Net […] The post Uber Technologies reports wider loss for Q1 2024; revenue up 15% first appeared on AlphaStreet.

BSE Q4 Results: Cons PAT jumps 18% YoY to Rs 107 crore; revenue skyrockets 115%

May 8, 2024 | 05:23 am

BSE Q4 Results: The exchange had reported a profit of Rs 91 crore in the year-ago period. The consolidated revenue from operations for the reported quarter stood at Rs 488.37 crore. The company's board of directors also recommended payment of a final dividend of Rs 15 per equity share.

Tech View: Nifty forms high wave type candle pattern. What traders should do on Thursday

May 8, 2024 | 05:17 am

The positive chart pattern like higher tops and bottoms is intact as per daily time-frame chart and presently the market is in an attempt of new higher bottom formation. The short-term trend remains weak, but the market is showing signs of higher bottom formation around 22,200 levels.

1 big-cap stock to consider buying with the FTSE 100 above 8,000

May 8, 2024 | 05:14 am

The tide looks set to turn for this unloved FTSE 100 business and the stock may perform well in the gathering bull market. The post 1 big-cap stock to consider buying with the FTSE 100 above 8,000 appeared first on The Motley Fool UK.

Technical Breakout Stocks: How to trade Bharat Forge, ABB India and Siemens on Thursday

May 8, 2024 | 05:10 am

Bharat Forge hit its all-time high levels with sharp volumes. The overall trend is positive and strong. On the upside, it has broken out of 2 resistance zones on intraday charts on Wednesday suggesting it could touch 1,451-1,517 levels in the near future. The support levels remain below 1,211 levels.

Stock market update: Nifty Realty index advances 0.64%

May 8, 2024 | 04:56 am

The Nifty Realty index closed 0.64 per cent up at 960.85.

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

May 8, 2024 | 04:51 am

Dr. Reddys, Asian Paints, Grasim Inds., UltraTech Cem. and HUL were among the top losers on NSE in today's trade.

L&T Q4 Results: Profit jumps 10% YoY to Rs 4,396 crore; dividend declared at Rs 28/share

May 8, 2024 | 04:50 am

L&T Q4 Results: The Board has also recommended a final dividend of Rs 28 per share of the face value Rs 2 each for the financial year ended March 2024. L&T received orders worth Rs 3.02 lakh crore at the group level during the year ended March 2024, registering a 31% YoY growth.

Share market update: Most active stocks of the day in terms of traded value

May 8, 2024 | 04:46 am

The NSE Nifty index closed 0.0 points at 22302.5

Celsius Stock’s Post-Earnings Morning Dip, Better than Coffee

May 8, 2024 | 04:45 am

The dip on Celsius stock is one to watch out for, as the company reports blowout financial results, analysts see double-digit growth ahead this year.

TVS Motor Q4 Results: PAT zooms 18% YoY to Rs 485 crore; revenue jumps 24%

May 8, 2024 | 04:42 am

TVS Motor Q4 Results: The revenue from operations for the reported quarter stood at Rs 8,169 crore, a nearly 24% uptick over Rs 6,605 crore reported in the corresponding quarter of the previous financial year.

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

May 8, 2024 | 04:41 am

Transwarr Fin, Bharat Forge, IRIS Business Servic, Pudumjee Paper Prod and CarTrade Tech, hit their fresh 52-week highs during the day.

Navin Fluorine, Persistent Systems among 5 stocks with top short covering

May 8, 2024 | 04:39 am

Short covering signals a shift in view on a security from extreme bearishness to bullishness.

Stock market update: Nifty Pharma index advances 0.02%

May 8, 2024 | 04:36 am

The Nifty Pharma index closed 0.02 per cent up at 18850.85.

Hindustan Unilever, Muthoot Finance among 4 stocks with top long unwinding

May 8, 2024 | 04:31 am

In Wednesday's trading session, four stocks witnessed a top long unwinding.

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

May 8, 2024 | 04:31 am

In the Nifty pack, 26 stocks closed in the green, while 24 stocks ended in the red.

Chegg Chokes on AI Attempt, CEO Talks it Up As He Passes Torch

May 8, 2024 | 04:30 am

Chegg beat Q1 2024 EPS by a penny but lowered its top and bottom line estimates for Q2 2024 as CheggMate AI isn't helping.

Does Logitech’s EPS Beat Signal the Rebound of Video Gaming?

May 8, 2024 | 04:15 am

Computer gaming and accessories manufacturer Logitech International S.A. (NASDAQ: LOGI) saw strength in its video gaming segment in Q1 2024.

Key metrics from Shopify’s (SHOP) Q1 2024 earnings results

May 8, 2024 | 04:14 am

Shopify Inc. (NYSE: SHOP) reported first quarter 2024 earnings results today. Revenue increased 23% to $1.9 billion compared to the prior-year period. Gross Merchandise Volume (GMV) increased 23% year-over-year to […] The post Key metrics from Shopify’s (SHOP) Q1 2024 earnings results first appeared on AlphaStreet.

MU Nears Breakout as Analysts Continue to Pound the Table

May 8, 2024 | 04:11 am

Micron Technology is soaring, up over 40% this year, outpacing the market and semiconductor sector, and it has strong backing from analysts.

Upwork Capitalizes on the Growing AI Gig Economy

May 8, 2024 | 04:00 am

Upwork’s Artificial Intelligence and Machine Learning segment saw 50% YoY gross service volume in Q1 2024 as it unveiled its AI bot Uma, the Mindful AI.

Up 20,000% in 10 years, has Nvidia stock run its course?

May 8, 2024 | 02:53 am

Nvidia stock has proved itself an incredible investment over the last 10 years. But is there any more value left in its share price? The post Up 20,000% in 10 years, has Nvidia stock run its course? appeared first on The Motley Fool UK.

The Rolls-Royce share price has stalled. Is now a chance to buy?

May 8, 2024 | 02:45 am

After going on a tear, the Rolls-Royce share price seems to be slowing down. But could this present an opportunity to buy some shares? The post The Rolls-Royce share price has stalled. Is now a chance to buy? appeared first on The Motley Fool UK.

Is the S&P 500 Forming a Bear Flag Pattern?

May 7, 2024 | 16:30 pm

In this edition of StockCharts TV's The Final Bar, Dave focuses in on price pattern analysis for the S&P 500, then reflects on the emergence of defensive sectors like consumer staples. He also recaps earnings movers, including DIS, SHOP, and more.This video originally premiered on May 7, 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.

EA Earnings: Electronic Arts reports lower revenues for Q4 2024

May 7, 2024 | 13:16 pm

Video game publisher Electronic Arts (NASDAQ: EA) Tuesday reported a decline in revenues for the fourth quarter of 2024. Meanwhile, the top line came in slightly above analysts’ estimates. Fourth-quarter […] The post EA Earnings: Electronic Arts reports lower revenues for Q4 2024 first appeared on AlphaStreet.

What to look for when Cisco Systems (CSCO) reports Q3 results

May 7, 2024 | 11:52 am

Cisco Systems Inc. (NASDAQ: CSCO) is all set to publish third-quarter results next week amid expectations for a decline in adjusted earnings. Of late, the company’s investments are focused on […] The post What to look for when Cisco Systems (CSCO) reports Q3 results first appeared on AlphaStreet.

Electronic Arts Q4 2024 Earnings Call: Listen Live and Get the Real-Time Transcript

May 7, 2024 | 10:06 am

Video game publisher Electronic Arts (NASDAQ: EA) is scheduled to publish fourth-quarter 2024 earnings today after regular trading hours. Listen to Electronic Arts’ Q4 2024 earnings call live and read […] The post Electronic Arts Q4 2024 Earnings Call: Listen Live and Get the Real-Time Transcript first appeared on AlphaStreet.

What to look for when Home Depot (HD) reports Q1 2024 earnings

May 7, 2024 | 09:55 am

Shares of The Home Depot (NYSE: HD) stayed red on Tuesday. The stock has gained 17% over the past 12 months. The home improvement retailer is scheduled to report its […] The post What to look for when Home Depot (HD) reports Q1 2024 earnings first appeared on AlphaStreet.

Garmin Navigates to New Highs Driven By Wearables Trend

May 7, 2024 | 09:52 am

Garmin posted record first-quarter revenues in its Fitness, Outdoors, Aviation, and Marine segments and reaffirmed full-year 2024 guidance.

Pinterest Prospers From AI Boosting Shop-Ability and Relevance

May 7, 2024 | 09:07 am

Social commerce platform Pinterest Inc. (NYSE: PINS) shares are climbing towards 52-week highs on the heels of a spectacular Q1 2024 earnings report. The rebo

AbbVie Tracking for New Highs in 2024

May 7, 2024 | 08:45 am

Future Dividend King AbbVie is tracking for new highs as the shift away from Humira-based business gains momentum with new treatments and acquisitions.

3 Automotive Parts Makers Growing at Double-Digit Rates

May 7, 2024 | 08:21 am

With the automotive industry looking to make a comeback this year, three OEM stocks lead the way to deliver double-digit EPS growth and upside.

Freshpet Surges 10%: Fresh Highs to Come for This Pet Stock

May 7, 2024 | 07:42 am

Freshpet surged to a fresh high after solid results and guidance. More fresh highs are on the menu for this pet food stock.

Earnings Summary: Highlights of TransDigm’s Q2 2024 financial results

May 7, 2024 | 06:48 am

TransDigm Group Incorporated (NYSE: TDG), a leading manufacturer and supplier of aircraft components, reported higher net sales and profit for the second quarter of 2024. Q2 net sales increased 21% […] The post Earnings Summary: Highlights of TransDigm’s Q2 2024 financial results first appeared on AlphaStreet.

Hims & Hers Health Stock Could Become a Wealth Compounder

May 7, 2024 | 06:45 am

Hims & Hers stock could give investors the best of both stability and double-digit upside through EPS projections and price targets, especially after 1Q24

3 Penny Stocks That Insiders Are Buying

May 7, 2024 | 06:42 am

Penny stocks are a risky business but following the insiders to your next trade can alleviate some of the risks; these are the three hottest insider buys.

Traders Sell but Investors Still Win After Palantir's Earnings

May 7, 2024 | 06:16 am

Palantir stock is down sharply after a strong earnings report. The long-term thesis hasn't changed, but it reinforces that PLTR stock is still an active trade

Buy The Dip in Disney After Magical Profit Beat

May 7, 2024 | 06:13 am

Disney's capital return program is gaining strength and on track for increases this year and next. The dividend should grow by 50% this summer.

Earnings Summary: Highlights of Duke Energy’s (DUK) Q1 2024 results

May 7, 2024 | 06:13 am

Energy holding company Duke Energy (NYSE: DUK) Tuesday announced results for the first quarter of 2024, reporting an increase in operating revenues and adjusted earnings. Total operating revenues increased to […] The post Earnings Summary: Highlights of Duke Energy’s (DUK) Q1 2024 results first appeared on AlphaStreet.

Earnings Summary: Rockwell Automation reports lower sales and profit for Q2 2024

May 7, 2024 | 05:52 am

Rockwell Automation, Inc. (NYSE: ROK), a global leader in industrial automation and digital transformation, on Tuesday announced financial results for the second quarter of 2024. Sales, on a reported basis, […] The post Earnings Summary: Rockwell Automation reports lower sales and profit for Q2 2024 first appeared on AlphaStreet.

Lemonade Squeezes as Breakeven Date Gets Pulled Closer

May 7, 2024 | 04:48 am

Artificial intelligence (AI) powered insurance platform Lemonade Inc. (NYSE: LMND) made headlines on its Q1 2024 earnings release. The company still

Infographic: Key highlights from Disney’s (DIS) Q2 2024 earnings results

May 7, 2024 | 04:14 am

The Walt Disney Company (NYSE: DIS) reported second quarter 2024 earnings results today. Revenues increased 1% year-over-year to $22.1 billion. Net loss attributable to The Walt Disney Company was $20 […] The post Infographic: Key highlights from Disney’s (DIS) Q2 2024 earnings results first appeared on AlphaStreet.

Tech Earnings Insights: Where Opportunity Meets Uncertainty

May 7, 2024 | 04:00 am

Tech earnings season presents a complex mix of opportunities and challenges for investors navigating this dynamic and ever-evolving sector.

The Market Breadth Indicator You Should Be Following

May 6, 2024 | 16:19 pm

In this edition of StockCharts TV's The Final Bar, Dave recaps another strong day for stocks as the S&P 500 regains its 50-day moving average. He then identifies key levels to watch for PLTR, LCID, NFLX, NVDA, and AAPL, and breaks down the latest market breadth indicator readings.This video originally premiered on May 6, 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.

Earnings Preview: Alibaba likely to report mixed results for Q4

May 6, 2024 | 13:27 pm

Alibaba Group Holding Limited (NYSE: BABA) will be reporting fourth-quarter 2024 financial results next week. Over the years, the e-commerce giant successfully diversified its business and emerged as a major […] The post Earnings Preview: Alibaba likely to report mixed results for Q4 first appeared on AlphaStreet.

Here's My Long-Term Perspective on U.S. Stocks

May 6, 2024 | 12:02 pm

EB Weekly Market Recap VideoIf you haven't seen our latest weekend recording, it's now available HERE at YouTube.com.Sample - EB Weekly Market ReportThis is a sample of our Weekly Market Report that is sent to EB members every Monday. We also provide a Daily Market Report (DMR) every Tuesday through Thursday and a quick market update on Friday, but this Weekly Market Report is designed with the long-term in mind. I discuss many concepts in this report from week to week, and many of them have been the signals we've used to keep our members on the right side of the market for the past several years, including our suggestion to get out of the market early in 2022, just before the 28% cyclical bear market decline.We also have a BIG members-only event tomorrow, discussing the current state of the market and what to expect over the next several months. Please consider signing up for our 30-day FREE trial and join us for tomorrow night's event. You can get more information and register for this free event by CLICKING HERE. Either way, enjoy this Weekly Market Report.Weekly Market RecapMajor IndicesSmall and mid caps showed leadership last week. In fact, the IWM is outperforming all of our other major indices over the past month and is second only to mid caps over the past 3 months. If we're starting another upside move now, it'll be very interesting to see if small caps continue to lead or if money rotates back towards those large cap growth names.SectorsCommunication services (XLC) wasn't the top performer last week, but technically, the XLC does appear to have broken its recent downtrend:The price action and PPO both look bullish and we saw the RSI bounce off of the key 40 support level. The bears are hoping that (1) the XLC fails to break above short-term price resistance near 81, and (2) the RSI fails to break back up above 60. I believe neither will occur, but we have moved into a more cautious historical period, so we need to remain objective.Top 10 Industries Last WeekDon't count out financials just yet. The full line insurance ($DJUSIF) group is breaking out of a cup with handle today:Bottom 10 Industries Last WeekConsumer finance ($DJUSSF) didn't have a great week last week, but was it the completion of an A-B-C correction pattern? If so, the 20-day EMA needs to be cleared to confirm the potential start of another uptrend.:The persistent negative divergence indicated a possible loss of momentum, which suggests the increased likelihood of a decline. We've seen that decline quite clearly.Top 10 Stocks - S&P 500/NASDAQ 100Bottom 10 Stocks - S&P 500/NASDAQ 100Big PictureThe monthly PPO continues to push higher and away from centerline support. This is indicative and consistent with how the S&P 500 behaves during secular bull markets. Also, note that RSI 40 support tests have been successful since the financial crisis in 2008/2009. This is another sign that the secular bull market remains alive and kicking.Both our 10-year and 20-year rate of change (ROC) panels show that highs during this secular bull market have not come close to previous secular bull market highs. It's telling me we still have much further to go.SentimentLet's revisit the 253-day SMA of the equity only put call ratio ($CPCE). I want to refresh everyone's memory as to what happens to the S&P 500 when this sentiment indicator tops with readings showing EXTREME fear:Bet against this chart at your own risk. Personally, I believe that sentiment plays a much bigger role in stock market direction than most folks give it credit for. Every single major S&P 500 advance during this secular bull market has occurred with a significant top in the 253-day SMA of the CPCE. When this moving average is falling, you want to be on the long side.....PERIOD! This doesn't mean there aren't pullbacks. There simply aren't pullbacks that morph into bear markets.Rotation/Intermarket AnalysisHere's the latest look at our key intraday ratios as we follow where the money is traveling on an INTRADAY basis (ignoring gaps):QQQ:SPYFirst, a quick reminder. While this chart is named "@SPYQQQ", it's actually the QQQ divided by the SPY. When this line is rising, it means the QQQ is outperforming the SPY ("risk on" environment). When it's falling, it means the SPY is outperforming the QQQ ("risk off" environment). We've clearly been in a downtrend as money has rotated towards defensive- and value-oriented stocks. The past few days, this has changed and you can see the lines turning higher. The key to a sustainable upside move will be the continuation of this ratio to the upside.IWM:QQQOn an intraday basis, small caps (IWM) have performed well over the past several months. But gaps have not worked in their favor, which is why small caps have trailed the QQQ and SPY year-to-date and over the past 6 months. In my opinion, the gaps are disguising the underlying strengthening of the IWM. Time will tell if I'm correct or not.XLY:XLPThe XLY hasn't performed great vs. the XLP, but opening gaps are masking the true picture, which I believe is that discretionary stocks are stable relative to staples stocks - at least in 2024 thus far.Key Sector/Industry ChartsPerhaps the biggest industry group chart to show you right now is semiconductors ($DJUSSC). We know this group can light a fire under a secular bull market rally and we're seeing a breakout of the recent downtrend/consolidation:Nothing guarantees us higher prices ahead, but if I had my pick of one industry group to break out, it'd be this one. The PPO is now testing its centerline from underneath, which can be a challenge. But we've already seen a move above key trendline resistance and both moving averages. Technical improvement is clear.Trade SetupSince beginning this Weekly Market Report in early September, I've discussed the long-term trade candidates below that I really like. Generally, these stocks have excellent long-term track records and many pay nice dividends that mostly grow every year. Only in very specific[…]

Week Ahead: NIFTY Stays Vulnerable to Disruption of Primary Trend; Volatility Likely to Stay

May 6, 2024 | 11:45 am

The markets traded in a much wider range in the past trading week. Over the past few days, we had seen the markets and the VIX inching higher, i.e. moving in the same direction. In the previous technical note, we had expressly mentioned this concern, as instances of VIX and the Index rising higher simultaneously often end up showing a warning sign of an impending corrective move.The last trading day of the week saw the Index swinging wildly. During the week, the Nifty oscillated in a 446.65 range before closing the week on a flat note. The benchmark Index posted minor weekly gains of 55.90 points (+0.25%).There is something more that needs to be noted from a technical perspective. While the Nifty has stayed flat, the volatility has shown a huge spike. This is evident from the IndiaVix spiking by a massive 33.80% to 14.62. This continues to show some quantum of uneasiness in the markets. Moreso, the rise in the VIX and the NIFTY over the past few days has made the markets vulnerable to profit-taking bouts, like the one seen on Friday. Historical data shows that often, through such behavior, VIX has ended up issuing prior warnings to any impending profit-taking bout. The NIFTY did mark its fresh lifetime high of 22794.70; however, the 22775 level still remains an immediate top for the markets, as it was not taken out convincingly. In short, so long as Nifty stays below 22775, it is likely to consolidate in a broad trading range, showing volatile moves on either side.Monday is likely to see a stable start to the trade. The levels of 22650 and 22775 are likely to act as potential resistance levels. The supports come in at 22300 and 22050 levels.The weekly RSI is 65.61; it remains neutral and does not show any divergence against the price. The weekly MACD is still bearish and trading below its signal line. A Doji has been formed on the candle; its emergence near the high point has the potential to disrupt the ongoing trend in the markets. Historically, Doji's have been more potent comparatively to form reversals; however, they would need confirmation on the next bar.The pattern analysis of the weekly chart shows that Nifty is continuing to trade in a small rising channel, and the 20-week MA which is currently placed at 22045, happens to be the nearest support for the Index. If this level gets violated, then it would be the first sign of the markets likely taking a breather and the present trend getting temporarily disrupted.All in all, the markets are likely to adopt some defensive bias in the future; we may see some defensive pockets doing well over the coming days. Some technical rebounds too can be expected. However, it is strongly recommended that we use these technical rebounds as and when they occur to protect the profits at higher levels. Fresh purchases should be made extremely carefully, and only in the stocks that are developing or bettering their relative strength against the broader markets. A cautious approach 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 only the Nifty Metal, Auto, and Consumption Indices are inside the leading quadrant. Among these, though the Auto group is seeing some paring of relative momentum, these groups are likely to relatively outperform the broader markets collectively.The Nifty Commodities, Energy, Midcap 100, Realty, PSE, PSUBank, Infrastructure, and Pharma indices are inside the weakening quadrant. They are expected to slow down on their relative performance; individual stock-specific shows may be seen.While Nifty IT continues to languish inside the lagging quadrant, the FMCG and Media Indices are seen improving on their relative momentum against the broader Nifty 500 index.Banknifty, Nifty Financial Services, and the Service Sector Indices are inside the improving quadrant; they are expected to continue bettering their relative performance against 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 Analystwww.EquityResearch.asia | www.ChartWizard.ae

DP Trading Room: Two Industry Groups To Watch!

May 6, 2024 | 11:14 am

Today Erin uncovers two industry groups that are showing strength and potential in the short term. She takes a look "Under the Hood" to reveal participation and trends that are quite bullish.Carl walks us through the market overall, covering not only the SPY, but also interest rates, Bonds, Gold, Silver, Gold Miners, Crude Oil and the Dollar.After a look at the overall market, Carl pays special attention to Apple's (AAPL) buyback and what it means for the market. Additionally, he looked at the remaining Magnificent Seven daily charts and determines which are set up to perform well and which could be in trouble.The pair finish the program with viewer's symbol requests which included ARM, MU and SMCI.01:05 Market Signal Tables03:34 Market Overview10:21 Apple (AAPL) and the Magnificent Seven14:56 Sector Overview20:30 Industry Groups to Watch27:46 Symbol RequestsWatch the latest episode of the DecisionPoint Trading 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

DEFENSE TRIES TO HELP EQUITIES MOVE OFF LOWS

May 6, 2024 | 10:44 am

Good morning and welcome to this week's Flight Path. The equity "NoGo" trend struggled this week as prices climbed from lows. We see an amber "Go Fish" bar as the market tries to understand the trend. GoNoGo Trend paints pink "NoGo" bars for treasury bond prices and commodity prices enter a period of uncertainty with consecutive amber "Go Fish" bars. The dollar, currently, is the only asset that is in a "Go" trend as we see the indicator painting weaker aqua bars. Lots of uncertainty this week!Markets Uncertain of Equity TrendThe "NoGo" trend gave way to an amber "Go Fish" bar at the end of the trading week. We know, that when the amber bar is painted it is because there are not enough criteria being met behind the scenes for the GoNoGo Trend indicator to identify a trend in either direction, Go or NoGo. Adding to the feeling of uncertainty is the candle itself. A doji candle is when the open and close price are the same or very close, and this is what we saw on Friday. There was no clear winner between the bulls and the bears. No surprise then, when we look at the oscillator panel we see the GoNoGo Oscillator riding the zero line and a Max GoNoGo Squeeze in effect. This is a visual representation of the tug of war between buyers and sellers at this level. We will watch closely to see in which direction the Squeeze is broken, as this will help us determine price direction.The larger weekly chart shows that we are at an inflection point here as well. We have seen a 4th consecutive weak aqua "Go" bar as price seems to have set a new higher low. GoNoGo Oscillator has crashed over the last month to test the zero line from above where we will watch to see if it finds support. If it does, we will see signs of trend continuation on the price chart. A break below the zero line would signal a more drawn out correction.Rates Fall After ConsolidationThis entire week saw GoNoGo Trend paint weaker aqua "Go" bars as price fell from its most recent high. We turn our eye to the oscillator panel and see that GoNoGo Oscillator has failed to find support at that level. As it dips its nose into negative territory we can say that momentum is out of step with the "Go" trend and we will watch to see if it sinks further into negative territory. If it does, then we may see trend change above. A rally back to the zero line would likely allow the "Go" trend to continue in the short term.

A look at Tyson Foods’ (TSN) expectations for the remainder of FY2024

May 6, 2024 | 09:47 am

Shares of Tyson Foods, Inc. (NYSE: TSN) fell over 7% on Monday. The stock has gained 7% year-to-date. The company delivered mixed results for the second quarter of 2024, with […] The post A look at Tyson Foods’ (TSN) expectations for the remainder of FY2024 first appeared on AlphaStreet.

Earnings Summary: Hershey reports higher Q1 sales and profit

May 6, 2024 | 08:13 am

The Hershey Company (NYSE: HSY), a multinational confectionary company, has reported an increase in net sales and adjusted profit for the first quarter of 2024. Consolidated net sales came in […] The post Earnings Summary: Hershey reports higher Q1 sales and profit first appeared on AlphaStreet.

Earnings Summary: Organon reports financial results for Q1 2024

May 6, 2024 | 07:53 am

Pharmaceutical company Organon & Co. (NYSE: OGN) has reported higher revenues and adjusted earnings for the first quarter of 2024. First-quarter revenue was $1.62 billion, which is up 5% on […] The post Earnings Summary: Organon reports financial results for Q1 2024 first appeared on AlphaStreet.

Loews Corporation (L) reports double-digit growth in Q1 revenue and profit

May 6, 2024 | 06:48 am

Loews Corporation (NYSE: L), a diversified company with businesses in the insurance, energy, hospitality, and packaging industries, on Monday reported a sharp increase in revenues and earnings for the first […] The post Loews Corporation (L) reports double-digit growth in Q1 revenue and profit first appeared on AlphaStreet.

3 CEO-Led Turnaround Stocks You Can Still Buy

May 6, 2024 | 05:55 am

The CEO is the most important person in a company; this is a look at three hot CEO-led turnarounds with ample upside left for investors.

3 Value Stocks You Can Buy Before They Become Big

May 6, 2024 | 05:00 am

Generac Holdings, Southwest Airlines, and Sprouts Farmers Market are becoming value stocks with their unique products, high profit margins, and strong returns.

Chinese Stocks Stage Impressive Rebound

May 6, 2024 | 04:45 am

Confidence and capital return to Chinese stocks after years of market losses, with several heavyweight Chinese stocks like JD, BABA, and BIDU rebounding.

Coca-Cola Stock Analysis: Key Insights and Trends

May 6, 2024 | 04:41 am

A comprehensive analysis of Coca-Cola stock in 2024. Explore trends, performance metrics, and expert investment insights to guide your investment decisions.

Tyson Foods (TSN) Q2 2024 Earnings: Key financials and quarterly highlights

May 6, 2024 | 04:39 am

Tyson Foods, Inc. (NYSE: TSN) reported second quarter 2024 earnings results today. Sales dipped slightly to $13.07 billion from $13.1 billion in the same period a year ago. Net income […] The post Tyson Foods (TSN) Q2 2024 Earnings: Key financials and quarterly highlights first appeared on AlphaStreet.

3 Metal Stocks Setting Up for Double-Digit Growth

May 6, 2024 | 04:30 am

Three metal sector stocks are quickly becoming potential buy targets for investors looking for double-digit EPS growth in the middle of an uncertain economy

Brinker International Heats Up on Spicy Earnings Beat and Raise

May 6, 2024 | 03:20 am

EAT stock surged to 52-week highs after Brinker International reported a solid fiscal Q3 2024 earnings report and raised its full year earnings guidance

Eli Lilly Gains on the GLP-1 Weight Loss Phenomenon

May 6, 2024 | 03:15 am

Eli Lilly stock continues to move higher after the company reported continuing momentum for its flagship GLP-1 weight loss drugs

Pfizer Finds a Foothold After a Solid Q1 2024 Earnings Report

May 6, 2024 | 03:10 am

After a painful two-year selloff, Pfizer shareholders may have finally gained a foothold after the company delivered a solid Q1 2024 earnings report

3 Stocks Getting Boosted by Analysts

May 6, 2024 | 03:05 am

Three stocks show double-digit upside in both EPS projections and price targets today, all part of a wider fundamental tailwind carrying them all forward

It's May, So Should We Go Away?

May 5, 2024 | 11:46 am

We've all heard that popular Wall Street adage, "Go away in May", right? It's cute and it rhymes, so why wouldn't we make the HUGE decision to liquidate all of our stock holdings? Did I mention it rhymes? One of the biggest disservices to investors everywhere is the "all in" approach the media takes with regard to "go away in May."Investing is not that simple and a dose of independent research would help a lot of analysts.Let me first start by saying that there is some truth to this adage. The premise behind "go away in May" is that the May through October period is weaker than the November through April period. This is true and here are the annualized returns since 1950 on the S&P 500 to support it:November through April: +14.59%May through October: +3.74%The numbers don't lie. But the question isn't which period is better. The question is whether you should "go away in May". I don't think taking this adage literally makes very much sense and I'll explain why.Secular Bull Market Makes a DifferenceI believe every May needs to be analyzed separately based on the market's current technical and sentiment conditions. Yes, the tendency is to be weaker from May through October, and we shouldn't lose sight of that fact, but we're in a 11-year secular bull market. Returns in a secular bull market are much better than the "average" year. Let me break down the returns of the two periods in question during this secular bull market:November through April: +17.04%May through October: +10.57%The November through April period has been stronger for sure, but do you really want to "go away" during the May through October period. 10.57% is a very nice annualized return. What I have written about in the past is that the true "go away" period historically has been from the close on July 17th through the close on September 26th. Even during this secular bull market of the past 11 years, this July 18th through September 26th has posted an annualized return of -3.72%. This is your true "go away" period. Unfortunately, it doesn't rhyme and many CNBC contributors don't do necessary research - they just follow along with the jingle. Finally, going back to 1950, the May through October period annualized return jumps from 3.74% to 7.59% if we simply exclude that true "go away" period from July 18th through September 26th.Growth vs. ValueWhile May through October is weaker, did you know that the best 4-consecutive month period for growth stocks (IWF) vs. value stocks (IWD) in May through August? Check out this seasonality chart for the IWF:IWD over the past 20 years (which includes both bull and bear markets):If we add up that monthly outperformance/underperformance, you'll see that May through August shows the IWF outperforming the IWD by 3.4%, while outperforming by just 0.5% during the other 8 months. You miss all of that growth outperformance by sitting out from May through October.How about Apple's (AAPL) historical performance. This is one of the largest market cap companies in the world and a big driver of the S&P 500. Let's see how AAPL performs relative to the S&P 500 on a monthly basis over the past 20 years:Here's AAPL's outperformance:May through October: +17.8%November through April: +5.6%You don't want to "go away" from AAPL during that May through October period, do you?Weekly Market Recap VideoAfter taking last weekend off for a vacation, I returned to YouTube yesterday for my latest weekly recap. I explained why this looks NOTHING like a bear market. Feel free to check out my "This Is NOT A Bear Market" video at your leisure. Please be sure to "Like" the video and "Subscribe" to our YouTube channel. I'd certainly appreciate your support!DON'T Go Away in May EventIf you find research like the above to play an important role in your stock market analysis and decisions, then you'll love our next event on Tuesday, May 7, at 4:30pm ET! There are a few warning signs in the stock market right now and I'll discuss each of them in detail and provide you exactly what to look for to confirm that the next leg of the current secular bull market is underway. This is a "Can't Miss" event reserved for our members at EarningsBeats.com, but a FREE 30-day trial is all you'll need to get the best up-t0-date independent research available. For more information on this timely event and to register, CLICK HERE.Happy trading!Tom

MEM TV: NVIDA is Setting Up To SURGE

May 3, 2024 | 19:12 pm

In this episode of StockCharts TV's The MEM Edge, Mary Ellen reviews the key drivers for this week's volatile period, including Core PCE and GDP numbers. She takes a look at where the S&P 500 and NASDAQ closed for the week and whether it's safe to put new money to work. Several stocks gapped up into base breakouts, and Mary Ellen covers these as well.This video originally premiered May 3, 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.

Is this a Dead-Cat Bounce or a Bounce with Legs?

May 3, 2024 | 14:27 pm

Stocks fell sharply into late April and then rebounded over the last two weeks. SPY fell 5.34% from March 28th to April 19th and then rebounded with a 3.26% gain the last two weeks. Does this bounce have legs? Chartists can separate serious bounces from dead-cat bounces using breadth. Today's example will use the S&P 500 and the percentage of S&P 500 stocks their 20 day SMAs. There are two steps. First, the indicator needs to become oversold (setup). Second, we need to see a significant increase (breakout) in upside participation (signal). An oversold reading signals a significant decline and provides the setup for a bounce. Aggressive traders can trade the oversold condition. A subsequent move above the breakout level signals adequate participation to sustain the advance. Now comes the subjective part. We must choose our oversold and breakout levels. I am choosing 10 and 70 percent for SPX %Above 20-day SMA. The green shading on the chart above shows when SPX %Above 20-day became oversold and the green arrow-lines mark the subsequent move above 70%. There were setup-signals in March-April and again in October-November. Both led to significant bounces. Notice the red shading where the indicator failed to clear 70% in mid October. This was a feeble bounce and SPY moved to a new low in late October. SPX %Above 20-day then surged above 70% in early November for a signal. Recently, the indicator became oversold here in mid April for a setup and moved back above 50% this week. An oversold bounce is indeed underway, but I need to see a move above 70% to show a participation breakout. We are monitoring the rebound in the S&P 500 and Nasdaq 100 at TrendInvestorPro (ChartTrader). Our 10 indicator composite indicator became oversold in mid April, but we have yet to see the required breadth thrust to signal a strong increase in participation. ChartTrader reports and videos provide broad market timing signals and trading setups for leading stocks and ETFs. This week we featured setups in the T-Bond ETF (TLT), the Biotech SPDR (XBI) and four Tech ETFs (IGV, SOXX, CIBR, SKYY). Click here for immediate access. //////////////////////////////////////////////////

Technology Stocks Back In the Lead: Are Inflation Fears Behind Us?

May 3, 2024 | 14:24 pm

The weaker-than-expected jobs report gave the stock market some direction, a nice treat before the 150th Kentucky Derby. Job growth slowed, and the unemployment rate ticked up to 3.9%. If this trend continues, the market may price in more than one interest rate cut this year.This week's price action gives the impression that the stock market is still uncertain and can't decide which way it wants to go. It's unclear whether Friday's move is enough to carry the market higher.The broader equity market indexes moved higher on the news. The Dow Jones Industrial Average ($INDU) and S&P 500 ($SPX) reached their 50-day simple moving average (SMA) but didn't close above that level. The Nasdaq Composite ($COMPQ) managed to move above its 50-day SMA as several tech stocks moved higher; however, the index didn't show much upside conviction.Tech Back in the LeadView live chart here.The daily chart of the Technology Select Sector SPDR ETF (XLK) below shows the breakout from the recent downtrend. It will be interesting to see if XLK can break through the resistance of its 50-day SMA. CHART 1. DAILY CHART OF XLK. The ETF broke its recent short-term downtrend, but a breakout above its 50-day SMA is critical.Chart source: StockCharts.com. For educational purposes.The rotation back into the tech sector shows that investors are still gravitating toward technology stocks. Apple (AAPL) may have helped ignite interest when it reported better-than-expected earnings. Apple's stock price experienced a steep downfall, which may have now reversed.Follow the live chart.Apple's price shows strength after its significant gap up, following the earnings report (see chart below). The StockCharts Technical Ranking (SCTR) score (upper panel) is moving higher and is now shy of 50. Its Relative Strength Index (RSI) is also close to the 70 level. This would be a stock to add to your ChartList.CHART 2. APPLE SOARS AFTER EARNINGS REPORT. Will the rise in Apple's stock price have enough momentum and follow through to push it higher?Chart source: StockCharts.com. For educational purposes.Shares of Nvidia Corp. (NVDA), Microsoft (MSFT), Amazon (AMZN), and Meta (META) are trading higher. If you want to add more tech stocks to your portfolio, you may want to wait to see some follow-through to the upside before jumping in.The Big PictureThe market pretty much made up the losses for the week, but the broader equity indexes haven't pushed through their resistance levels. They climbed higher in the early trading hours, but stalled and stayed relatively flat for most of the trading day. Anyone who was watching the markets will know it was like watching paint dry for most of the day. It is Friday, and investors may not want to add positions, especially since the market looked like it was in correction territory this week.The Dow gapped up in the early trading hours, but hung out at its 50-day SMA. The S&P 500 broke out to the upside of what looks like a bear flag formation, but it also hung on to its 50-day SMA. The Nasdaq Composite is looking the most bullish of the three indexes, as it broke above its 50-day SMA but hung out there.Follow the live chart.Even bond prices were stagnant. The daily chart of the iShares 20+ Year Treasury Bond ETF (TLT) shows that bond prices rose, but didn't move much for most of the trading day.CHART 3. DAILY CHART OF TLT. Bonds prices rose on Friday, but still have a long way to go before showing signs of an uptrend.Chart source: StockCharts.com. For educational purposes.The good news: The CBOE Volatility Index ($VIX) is back below 15 levels, an indication that investors aren't necessarily fearful and the market didn't fade at the close.There's not much economic data next week. There are a few earnings to pay attention to, but a big chunk is in the rear-view mirror. The market could continue its indecisive behavior next week. We'll have to wait and see. It may be a good time to put your stock market thoughts aside and shift your focus to watching the Derby.End-of-Week Wrap-UpS&P 500 closes up 1.26% at 5127.78, Dow Jones Industrial Average up 1.18% at 38,675.88; Nasdaq Composite up 1.99% at 16,156.33$VIX down 7.97% at 13.51Best performing sector for the week: UtilitiesWorst performing sector for the week: EnergyTop 5 Large Cap SCTR stocks: Super Micro Computer, Inc. (SMCI); Vistra Energy Corp. (VST); Vertiv Holdings (VRT); MicroStrategy Inc. (MSTR); Coinbase Global Inc. (COIN)On the Radar Next WeekSeveral Fed speechesEarnings from Berkshire Hathaway (BRK/B) reporting on Saturday, BioNTech (BNTX), Walt Disney (DIS), Palantir Technologies (PLTR), and Duke Energy (DUK), Uber (UBER), among others.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.

Key Breadth Indicator Flashes Buy Signal for Nasdaq 100

May 3, 2024 | 14:18 pm

In this edition of StockCharts TV's The Final Bar, Dave opens The Final Bar mailbag to answer viewer questions on the Nasdaq Bullish Percent Index, the value of long-term technical analysis techniques, how sentiment indicators relate to the market trend, and how the CMT program helped him improve his technical analysis approach.This video originally premiered on May 3, 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.

The Bull Case for Buffett's Biggest Holding

May 3, 2024 | 12:45 pm

As investors flock to Omaha, Nebraska in their annual pilgrimage to learn from the great Warren Buffett, it seems an opportune time to reflect on the technical evidence for Berkshire's biggest holding, Apple (AAPL).Today, we'll consider AAPL using "multiple time frame analysis", in which we analyze the same stock from three different time frames. This allows us to think about how the short-term fluctuations relate the medium-term trend, and how the medium-term trend fits into the longer-term secular trends at play.First, let's consider the short-term time frame using the daily chart.After an earnings release this week that disappointed investors on weaker iPhone sales, yet thrilled investors at the announcement of the largest buyback in Apple's history, the stock gapped higher on Friday above the 200-day moving average. After the last two months of lower highs and lower lows, combined with RSI levels very consistent with bearish phases, the stock finally appears to have reversed that downtrend with higher prices and improved momentum.For now, remaining above the 200-day moving average after the gap higher on Friday remains the most important factor on the daily chart. It will be very telling in the days and weeks to come if additional buyers are willing to step in and pay even more for this long-term market outperformer!For the medium-term time frame, let's consider the last ten months of price action, starting with the July 2023 high around $197. After achieving that peak, AAPL pulled back to a 38.2% retracement of the 2023 rally phase, finding support right around $169. Over the subsequent seven-to-eight months, Apple has been rangebound, bouncing between retests of the all-time high before returning down to test support in the $165-169 range.This week's gap higher appears to confirm that support in that range has once again held strong, giving a clear floor to the price action for the last year. With improving momentum, in the form of the RSI pushing above 60 on this rally, the stock appears to be strengthening. But until we see a confirmed break above the previous high around $197, I'm inclined to label the medium-term time frame as "neutral."Now let's consider the long-term trend using the weekly chart.Quite simply, the long-term picture for AAPL is exceptionally strong. Since the 2009 market low, the stock has experienced numerous tests of an ascending 150-week moving average. And in 100% of those tests, the stock has rebounded higher, eventually making a new all-time high soon after.Note the RSI levels on the weekly chart, showing that the momentum remains in the bullish range since late 2018. This suggests that the long-term momentum is positive, and that pullbacks to moving average support should be considered opportunities to capitalize on short-term market weakness.Do you think Apple provides a decent opportunity in Q2, after pulling back to test long-term moving average support? Watch the video below, and then drop a comment there with your vote!RR#6,DaveP.S. Ready to upgrade your investment process? Check out my free behavioral investing course!David Keller, CMTChief Market StrategistStockCharts.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.The author does not have a position in mentioned securities at the time of publication. 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.

Diverging Tails on This Relative Rotation Graph Unveil Trading Opportunities

May 3, 2024 | 12:32 pm

All on the Same Track... or?The difference between equal-weighted sectors and cap-weighted sectors is obvious. Namely, the cap-weighted variant is much heavier and is impacted by the changes in some heavy-weight, often mega-cap, stocks. Nevertheless, when you plot these sectors on Relative Rotation Graphs, you will often find that their tails generally move in the same direction and/or follow the same path.When that does not happen, when the tails of the two versions of the same sector are on different paths or in completely different positions on the RRG, it's time to investigate.The RRG above shows the two universes, cap-weighted and equal-weighted, plotted on the same RRG and against SPY as the benchmark. Looking closely, you will find most sector pairs on the same trajectory. If you have a SC account, you can click on the graph, open the RRG in your own account, and do a closer inspection.*You can save RRGs as bookmarks in your browser. By doing that, you can create your own custom RRGs and save them for later retrieval. Scroll to the bottom of the page, click "permalink," and then copy and save this link as a bookmark in your browser.Zooming InTo get a better handle and a clearer picture, I have removed the sectors where both tails are on similar trajectories and positions and only left the tails on the graph where they differ. As a result, two sectors remain: Consumer Discretionary and Communication Services.Consumer DiscretionaryBoth tails are inside the lagging quadrant. However, that is as far as the comparison goes. XLY is moving higher on the RS-Momentum scale, indicating an improvement in relative momentum, while RSPD is moving lower and is on a negative RRG-Heading. Also, the tail on XLY is substantially longer than on RSPD, indicating the power behind the move.Looking at the composition of the sector, it's obvious which stocks inside Consumer Discretionary are causing the difference.AMZN, TSLA, HD, and MCD comprise 50% of the index, while AMZN and TSLA are already 38%.Looking at the performance over the last five weeks (tail length on the RRG), we can see how the sector's performance has shifted to the large names. The table above shows the top 50 stocks in the discretionary sector. AMZN and TSLA are in the upper end of the range, and MCD is just above XLY, which is at position 17 out of 50. This implies that most stocks are performing worse than that sector index.'Roughly the bottom half is at double-digit declines. While AMZN and TSLA are "only" up 2.4%, they drag the sector index up to around 1/3 of the entire universe, even with HD showing a 12.5% decline over that period.Now, look at the same table. Instead of using XLY as the benchmark, we are now using RSPD as the benchmark.RSPD is showing up at position 27 / 50, right where you'd expect an equal weight benchmark -- in the middle of the universe, balancing out all the performances.The bottom line is that XLY has been picking up recently only because of TSLA, AMZN, and MCD. But, under the hood, most discretionary stocks are going through a horrible correction.From a trading perspective, such observations can offer great pair trading ideas.Communication ServicesThe tails for XLC and RSPC are also far apart on the RRG. XLC is still inside the weakening quadrant and has just started to show the first signs of curling back up. RSPC is deep inside the lagging quadrant at a really low reading on the RS-Ratio scale overall, and is picking up relative momentum, but no relative trend (RS-Ratio) yet.Over the five-week period, XLC lost 2.8%, while RSPC lost 4.3%. The composition for this sector is even more top-heavy than Consumer Discretionary.META is listed as the top holding in XLC at 21%. But when we add up the weights for Alphabet A and B, it comes out to 26%. So together, the top two stocks in XLC are a whopping 47% of the sector.Looking at the same table for XLC, we find Alphabet at the top of the list over the last five weeks. Meta is in the lower part at -9%. The sector (XLC) comes in at -2.8%, which means that META is UNDERperforming (-9% + 2.8% =) -6.2%. But Alphabet Class A is OUTperforming (10.4% + 2.8% = ) 13.2% and Alphabet Class C is OUTperforming (10.6% + 2.8% = ) 13.4%. This is a way stronger upward pull for the index than the drag caused by META.Changing the benchmark to the EW version of Communication Services shows this table.Again, we see the equal-weight benchmark (RSPC) dropping to near the middle of the list, balancing out the return more evenly.All in all, this provides a similar pair trading opportunity.This relative trend is much more mature than the XLY:RSPD pair, but, as long as the rhythm of higher highs and higher lows continues, buying the dips in this relative line offers opportunities.Most of the time, the cap-weighted and equal-weighted versions of a sector will move more or less in tandem. But when they don't, they're worth investigating, as they may offer interesting trading opportunities.#StayAlert and have a great weekend, --Julius

After mixed Q2, what awaits Apple (AAPL) in the second half?

May 3, 2024 | 12:20 pm

Apple’s (NASDAQ: AAPL) stock rallied this week after the gadget giant reported stronger-than-expected Q2 results and announced the largest-ever share buyback program. The company is investing heavily in the business, […] The post After mixed Q2, what awaits Apple (AAPL) in the second half? first appeared on AlphaStreet.

What to expect when Tyson Foods (TSN) reports Q2 2024 earnings results

May 3, 2024 | 09:09 am

Shares of Tyson Foods, Inc. (NYSE: TSN) stayed green on Friday. The stock has gained 8% over the past three months. The branded foods company is slated to report its […] The post What to expect when Tyson Foods (TSN) reports Q2 2024 earnings results first appeared on AlphaStreet.

The BULL Case for BITCOIN

May 2, 2024 | 18:57 pm

In this edition of StockCharts TV's The Final Bar, Dave welcomes Adrian Zduńczyk, CMT of The ₿irb Nest. David recaps a busy earnings week, breaking down the charts of PTON, AAPL, and more. Adrian tracks the recent pullback for Bitcoin and why the long-term uptrend still remains the prevailing signal.This video originally premiered on May 2, 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.

Rules-Based Money Management - Part 3: Relative Strength and Other Measures

May 2, 2024 | 12:00 pm

Note to the reader: This is the nineteenth 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! - GregRelative StrengthBack in the 1970s, we used to have an indicator that looked at the volume on the American Stock Exchange (AMEX), also known as the curb, and the volume on the New York Stock Exchange (NYSE), known as the big board. It was called The Speculation Index. The AMEX consisted of small, relatively illiquid issues, generally all that could not make the listing requirements of the NYSE. The ratio of AMEX volume to NYSE volume was thought to represent excessive optimism when it reached a certain level.In perfect hindsight, I think if we had used it as a trend indicator, it would have been more valuable. Identify the rising path of speculation and as the volume of the AMEX increased relative to that of the NYSE, you would be in a good uptrend.Note: In 2008, the AMEX was acquired by the NYSE Euronext, which announced that the exchange would be renamed the NYSE Alternext US. The latter was renamed NYSE Amex Equities in March 2009. These changes have made stand-alone AMEX trading volumes difficult to source and track, as a result of which, the speculation index has lost much of its relevance as a measure of speculative activity.Small-Cap vs. Large-Cap ComponentSmall-cap participation is critical for sustained uptrends in the market because small-caps reflect speculation and speculation is a requirement for uptrends. For small capitalization issues, the Russell 2000 Index is used, and for large capitalization issues, the venerable S&P 500 Index is used. The math is simply to create the ratio of the small to large, then use technical analysis to provide a normalized trend measure.In Figure 13.19 the typical Nasdaq Composite is in the top plot, along with the small-cap large-cap binary. The middle plot is just the ratio of the small to large issues, and the lower plot is the small-cap large-cap weight of the evidence measure. In this example, you can see that small caps dominated the up move near the center of the chart, but have been relatively weak since. If you think about it, small caps also more closely relate to breadth.Growth vs. Value Component This component of relative strength measures the difference between growth stocks and value stocks. Now this will shock most folks who have studied the markets, but I use small-cap issues for both the growth and value components. I was initially concerned that small cap value was almost an oxymoron, but the data has proved time and time again that it is perfectly valid. Figure 13.20 shows the growth value ratio in the middle, with the growth value weight of the evidence measure in the bottom plot and its binary overlaid in the top plot.Breadth vs. Price Component There is only one more relative strength measure to view, the relationship between breadth and price. For breadth, a relationship between the advancing issues and the declining issues is used, while the Nasdaq Composite is used for price. The middle plot in Figure 13.21 shows the raw ratio of those two, with the price to breadth weight of the evidence measure in the lower plot and its binary in the top plot. This is an excellent example of how technical manipulation of the data can turn that noisy middle plot into something like the bottom plot, and a good trend measure.Relative Strength Compound MeasureThis compound measure (see the previous article) is designed to measure market sentiment. Are investors actively taking investment risk? Or are they behaving much more bearishly? Again, there are three indicators that drive this component and are shown above. These indicators look at the relationship between small-cap issues vs. large-cap issues, growth-oriented issues vs. value issues, and breadth measurements vs. price measurements.For example, when small-caps are dominant (small-caps outperforming large-caps) it is generally a sign of more speculation taking place in the markets, as investors are willing to accept more risk. This is generally a good sign, and it is during these environments that the markets generally perform well historically. When large-caps are dominant, it is usually the result of a flight to quality, as investors are taking risk off the table. This type of investor sentiment usually results in less favorable market conditions.A similar relationship exists between growth and value. When growth issues are outperforming, it is generally because the market is pricing in favorable growth estimates, and conversely, when value issues are dominating, it is because the market is no longer pricing in such optimistic positive growth estimates. The breadth vs. price measurement is similar to an equal-weighted measurement versus a capitalization-weighted measurement. Again, we are using three indicators in this component for confirmation purposes. When this relative strength component is on, it is adding value to the weight of the evidence of the model by letting me know that the sentiment in the markets is favorable and is viewed more as a trend confirmation measure versus a trend identification measure.Figure 13.22 is a chart showing lots of data but includes all three components of the relative strength measure. The top plot is the Nasdaq Composite with the compound binary measure overlaid. The binary measure for each of the components is also shows overlaid on their respective plots.Figure 13.23 is the same as the preceding figure, but with less data displayed.Dominant IndexA concept known as the Dominant Index measures the relative strength between the Nasdaq Composite and the New York Stock Exchange (NYSE) Composite. The Nasdaq is generally dominated by small capitalization issues and[…]

AMD at a Crossroads: Buy Now or Brace for More Losses?

May 2, 2024 | 11:33 am

Advanced Micro Devices (AMD) slightly topped Wall Street's earnings and guidance expectations on Tuesday, but, instead of rallying, its stock tumbled 7%. AMD was at its 61.8% Fibonacci retracement level, which, for many traders, can present an ideal "buy low" opportunity or a "get-ready-to-exit" threshold for those who bought the stock near the bottom of the uptrend. AMD's decline brings several questions to the fore: Is AMD a buy or a sell? What technical or fundamental factors might drive this decision? What are the key levels to watch?The Fundamental PictureAMD's EPS (61 cents) and revenue ($5.47 billion) barely edged above analyst consensus; they were practically in line with what Wall Street expected. The company's current quarter estimates also matched analyst forecasts. It's nothing bad, but nothing great, either.The immense potential growth driver, however, is AMD's forecasted sales of AI chips—around $4 billion this year. Still, the stock came tumbling down. So, if AMD's plunge was the market's way of correcting an overvaluation, then is the company's AI chip forecast already baked into the current price level?Analyst price targets are mixed. But before that, let's look at the technical picture.AMD and the AI RevolutionViewing AMD stock on a weekly chart, you can see it has been trending downward since hitting an all-time high of $227.30 in March.CHART 1. CHART OF AMD STOCK. AMD's relative performance against NVIDIA, the leader in AI chips, begins sinking after November 2022. AMD is also trailing the semiconductor industry. Chart source: StockCharts.com. For educational purposes.Returning to the second week of November 2022 (see vertical blue line), you can see AMD's slow but steady climb relative to the larger Tech sector (XLK). That line marks the onset of the current AI trend, sparked by OpenAI's public launch of ChatGPT. This budding AI "revolution" has thrust chipmakers like AMD into the limelight, positioning the industry as a fertile ground for expansion and a fiercely competitive arena for semiconductor companies.So, while AMD is still outperforming the general Tech sector by 21%, it's trailing the larger semiconductor industry ($DJUSSC) by -25.85% and NVIDIA, the world's leading AI chipmaker, by a whopping 70%.AMD missed the AI boat and fell drastically behind. However, according to its forecasts, AMD's prospects of catching up are rapidly improving. So, is this what's driving indecision at the current levels?In AMD's daily chart (see below), the stock is trading at the 61.8% Fib retracement level. This is a make-or-break level for traders: for those looking to go long, it represents a deep pullback (a break below this level increases the prospect's bearishness). It also represents the lowest level to exit a long trade for those who got in toward the bottom of the latest uptrend.CHART 2. DAILY CHART OF AMD. The stock is at a critical juncture, and its next move can trigger either a strong buy or sell signal, depending on the outcome and the underlying momentum.Chart source: StockCharts.com. For educational purposes.The Money Flow Index (MFI) is trending upward, creating a bullish divergence between price and the buying pressure it represents. The Chaikin Money Flow (CMF) indicates stronger selling pressure. If you plan on going long, you want to see both indicators trending in the same direction.3 Levels to WatchThe 61.8% Fib retracement line: A close below this level would invalidate and possibly reverse the longer-term uptrend.The $133 price range: The low of 2024 and high of 2023 may serve as the next level of support.The $124 price range: A cluster of resistance and consolidation levels in 2023, this range may serve as an even lower area of support; however, a break below can signal further downside risk.What Are Analysts' Price Targets?Analyst price targets for 2024 are fairly wide:The highest price target is between $265 and $270.The median price target sits between $185 and $190.The lowest price targets range between $120 and $140.This suggests that the current price is near the bottom of the target range and well below the average to high consensus.The TakeawayWith AMD's earnings and guidance satisfactory, its stock sits at a critical juncture. Technically, AMD is at an optimal buy level, but momentum doesn't seem to favor the bulls. Meanwhile, it's uncertain whether AMD's AI chip prospects are baked-in or underestimated. While you won't be able to predict the outcome of AMD's AI performance in the near term, you can see the technicals levels that might trigger a bounce or a bust. Momentum and price action are critical, so watch them closely in the next few days.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.

Market Pops, Then Drops on Fed Day

May 1, 2024 | 15:35 pm

In this edition of StockCharts TV's The Final Bar, Dave welcomes guest Adam Turnquist, CMT of LPL Financial. Dave debriefs on today's Fed meeting market reaction, reviewing concerning technical developments for NVDA, AMD, SMCI, NCLH, and MAR. Adam relates short-term weakness in growth stocks to long-term strength based on market breadth conditions.This video originally premiered on May 1, 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.

Gain AN EDGE Over Other Traders with ADX/DI

May 1, 2024 | 13:07 pm

On this week's edition of Stock Talk with Joe Rabil, Joe breaks down the differences between buyers and sellers, and shows how the ADX/DI can be used in three different ways: The action phase, low ADX period and an expansion phase. Understanding this indicator will give you an edge over other traders!This video was originally published on May 1, 2024. Click this link to watch on StockCharts TV.Archived episodes of the show are available at this link. Send symbol requests to This email address is being protected from spambots. You need JavaScript enabled to view it.; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.

SPY's Pullback Continues: How To Know When It's Over

Apr 30, 2024 | 15:54 pm

What's a trader to do when the stock market looks indecisive? Sit back and wait for the market to show direction.This week is packed with earnings from big tech companies, jobs reports, and investors anxious to hear what Jerome Powell says about possible interest rate cuts this year. So, while you're patiently waiting for the stock market to show direction, it doesn't hurt to do some chart analysis.Get the live chart here.Take a look at the SPDR S&P 500 ETF (SPY) daily chart below. You can see that SPY bounced off the April 19 low, hit resistance at the 50-day simple moving average (SMA), and dipped lower.CHART 1. DAILY CHART OF SPY. The pullback in SPY could bring it close to $470 unless it breaks above the 50-day moving average.Chart source: StockCharts.com. For educational purposes.Looking at the breadth indicators in the lower panel, the percentage of stocks trading above their 50-day moving average hit the 50 level but turned lower, and the S&P 500 Bullish Percent Index is just above 50. Overall, it looks like market breadth is, at best, meh.Will strong earnings from tech companies help push the stock market higher? It probably won't be enough. Amazon (AMZN) beat earnings, and its stock was trading higher in after-market hours. AMD also beat earnings, but the stock was trading lower in after-market hours. The focus will be on Powell when he takes the podium on Wednesday.Three Levels To WatchAlthough price action is never the same as past action, it's worth analyzing it during the 2023 pullback in SPY. Applying the Percentage Change tool from the July 2023 high to the October low, the correction was about 10.70%, with five up-and-down waves of lower highs and lower lows. The pullback had a three-month lifespan. Could a similar scenario play out this time? No two instances are identical, but watching the price action unfold can be interesting.How to annotate your charts with the Percentage Change tool.Click the Annotate button > Text icon > Percentage ChangeDrag from a top to a bottom to see the percentage change.Explore the different annotations available on StockCharts.com.Three key areas to watch are as follows:April 19, 2024 low. If SPY goes below this level, we could see a series of lower highs and lower lows.April 29, 2024 high. A close above this level would invalidate downtrend conditions and reverse the correction.The $470 level. This would mark a 10.6% correction. It's also close to the 50% Fibonacci retracement level.Looking at the breadth indicators in the lower panels, both started declining following the August high. Both crossed above the 50 threshold level at around the same time, coinciding with the stock market's bull rally.The TakeawayThis is a big week in the stock market, and it's best to follow a chart similar to the one discussed here. Download the live chart and save it to your ChartList. You can also try applying a similar analysis to indexes and other index ETFs, such as QQQ and DIA.If you're looking to buy on the dip, wait for the broader market to show signs of reversing before buying individual stocks. Always follow the price action, as it boosts your market engagement skills, making you a smarter trader.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.

SP 500 surges 1% as corporate earnings season begins; GIFT Nifty up

Apr 23, 2024 | 10:26 am

Markets across the globe edge higher as global tensions ease. US markets surge on a strong earnings season.

ICICI Prudential Life Insurance to focus on growing absolute VNB amid slump in FY24

Apr 23, 2024 | 10:06 am

In its Q4FY24 results, the company#39;s VNB fell 19.45 percent to Rs 2,227 crore for FY24

Trade setup for Wednesday: 15 things to know before opening bell

Apr 23, 2024 | 09:13 am

Based on the OI percentage, a total of 74 stocks were on the short-covering list which included Vodafone Idea, IndiaMART InterMESH, Biocon, Page Industries, and Sun TV Network.

Trade setup for Wednesday: 15 things to know before opening bell

Apr 23, 2024 | 09:13 am

Based on the OI percentage, a total of 74 stocks were on the short-covering list which included Vodafone Idea, IndiaMART InterMESH, Biocon, Page Industries, and Sun TV Network.

Bulk deals: Societe Generale, Marshall Wace active in Bandhan Bank, BoB and Manappuram Finance

Apr 23, 2024 | 08:53 am

In other trades, Foregin investor Ardisia sold stake in Ujjivan Financial Services

IIHMR University launches certificate course on digital healthcare

Apr 23, 2024 | 07:59 am

The objective behind launching this course is to develop healthcare professionals with an understanding of digital health innovations

IIHMR University launches certificate course on digital healthcare

Apr 23, 2024 | 07:59 am

The objective behind launching this course is to develop healthcare professionals with an understanding of digital health innovations

Lok Sabha Polls 2024: Ramayanâs Dipika Chikhlia aka Mata Sita campaigns for BJP#39;s Arun Govil in Meerut along with âLaxmanâ Sunil Lahri

Apr 23, 2024 | 06:57 am

Dipik Chikhlia campaigns for Arun Govil in Meerut; As the countdown to the Meerut polls ticks away, BJP candidate Arun Govil received a nostalgic boost as he campaigned alongside his onscreen counterpart from the iconic TV series #39;Ramayan#39;.

Puravankara to redevelop residential housing society in Mumbai#39;s Pali Hil

Apr 23, 2024 | 06:45 am

The project has a cumulative estimated development potential of 4.10 lakh sq ft carpet, with over ~2.15 lakh square feet available for sale.

Tata Elxsi Q4 net profit, revenue decline QoQ; firm declares dividend of Rs 70 per share

Apr 23, 2024 | 06:21 am

The net profit was down 4.6 percent quarter-on-quarter compared to the October to December period of FY24 and 2.32 percent against the March quarter of FY23

SME Action: Emmforce Autotech IPO booked 20.21 times on day 1, Faalcon Concepts closes with 68x subscription

Apr 23, 2024 | 06:16 am

Emmforce Autotech IPO: All categories of investors participated in the issue, buying 7.94 crore equity shares against IPO size of 39.33 lakh shares, subscription data available with the BSE showed.

SRK reacts to Mohanlal dancing to his song; the Malayalam superstar invites King Khan over breakfast: #39;Why not groove to some Zinda Banda?#39;

Apr 23, 2024 | 06:02 am

Malayalam megastar Mohanlal stole the spotlight at a recent award show with his electrifying dance performances, including grooving to #39;Zinda Banda#39; from the film #39;Jawan#39;. SRK took to social media to share the video, dubbing him the #39;OG Zinda Banda.#39;

ICICI Pru Life Q4 net profit falls 26% to Rs 174 cr, insurer announces dividend

Apr 23, 2024 | 05:56 am

Net premium income rose to Rs 14,788 crore

Cyient DLM#39;s profit after tax in FY24 surges 93%

Apr 23, 2024 | 05:26 am

For the full year, the company#39;s revenue stood at Rs 1,192 crore, which was 43.2 percent higher compared to the same period of the past financial year

Technical View: 22,500 crucial for further upside in Nifty, India VIX at 9-month low

Apr 23, 2024 | 04:17 am

The monthly options data suggested that the Nifty may face hurdle at 22,400-22,500 levels on the higher side, with crucial support at 22,000 level.

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