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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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Podcast EP 71 Only Six Remain (Oct 17) 08:57 Share

Not Your Advisor

Shownotes Transcript

Podcast EP 71 Only Six Remain (Oct 17)