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Show Notes
Summary of the day
$NVDA HAS LOST OVER 100 BILLION in market cap the last 48 hours. All AI chips by U.S. co are banned from being sold to China. Calling $410. If that doesn’t hold, $338.
We were very very close to testing the falling 50 day moving avg today on $SPY . Could that be as close as we get? Will be gather enough oomph to pierce it? Prices ran back from the area at 2pm today.
I had shared at 10:58am
Headlines this morning
Retail sales rose 0.7% in September, much stronger than estimate
Goldman Sachs tops estimates on stronger-than-expected bond trading
Bank of America tops profit estimates on better-than-expected interest income
Johnson & Johnson beats on earnings and hikes outlook as medtech, pharmaceutical sales surge
Breadth
125 new highs
320 new lows
55% advancing 39% declining
72% below 50 day ma
66% below 200 day ma
Stuck out
Semi conductors
Tested $1 away from 50 day on spy and sold off
Strong
Weak
Semiconductors
What to watch
Watch mag 7
Watch yields
Economic data
https://www.marketwatch.com/economy-politics/calendar)
Financial Freedom is not free, but the pursuit is worth the treasure.
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