Hi all,
What a difference a week makes. The markets bounced back nicely last week after a number of down weeks. Good reports from MSFT and GOOGL helped the technology and growth sectors. I was looking for a bounce after the selling we have been seeing.Â
During the week, we got GDP numbers that showed a weakening economy overall. On Friday we got the PCE price index data (the Feds favored inflation indicator) which showed that inflation is still remaining persistently above the target level of 2%. The markets did not seem to be fazed but hopes of any rate cuts in the near future continue to die.
Geopolitical tensions in the Middle East seem to have cooled off a bit which helped the markets although unfortunately there is no long-term resolution in sight.
Watch for more volatility next week. Earnings will influence if the markets can continue to rally back higher. It does seem like the downtrend may have been broken.
Recap Video
Sectors in Play Last Week
Key Levels for this Week
What to Watch for this Week
Earnings this week
Positions and Trades Last Week
Tracking for Potential Trades
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