Have we reached the Peak? 🙈🫣Down we go! 🎢

Hey mooers!

Is that Saturday weekly review again brought to you by Aaron Invest. Hope you are doing well throughout the week. We have really seen a big plunge 📉📉 after US Labour day. Looks like traders are taking a rest in the market. Question is that is it normal?

Disclaimer: Everything which I had posted here is for educational, entertainment purpose and it is not for the intention or recommendation to buy or sell. Everything that is being posted is based on my own opinions. Please do your own due diligence and research. Anything that is written may have some information which had been left out and is only based my own judgement from what I am reading in the market and news. Viewer discretion is advised.

Well let's find out shall we. Let's go! 🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀 🚀

Polls results:

Looking at the month of August, we are looking at majority making losses for the month of August. To some who break even or profit! Grats you are a champ! 🏆

Now my next question comes into play.

Non farm payroll

Although there is an increase in non farm payroll , it is still fall short from the target of 160k. This means it is anticipated to be lesser job growth happening. Notable decline is happening in the Manufacturing and Retail while increasing in the Healthcare and Hospitality sector. Probably Kamala policy in place?

Will there be a rescue plan ahead?

Personally I think the Fed would try not to take a rate cut. However Mr Market is really showing the urge for it to happen. Interesting

Nasdaq is dragging to the downside. Most notable cause is the profit taking which is happening at tech stocks and MAG7.

Nasdaq indicator indicate we may plunge all the way to 15700 for support. No kidding

If we were to see an upside. It would be limited to test at 17200.

Now main star 🌟 Tesla still a buy? Let's look at the Technical Analysis below.

Now with such a down plunge it really starts to itch my trigger fingers.

What I would be seeing based on the technicals in the short term is that there would be a potential short term bearish to the downside based on the judgement of the long wick at the end of the week. I would see it go down to test for support at 203 to 204.

Gosh first time I'm excited being a bear!

However more bearish trend? Medium to Long I would be watching for an uptrend to above 240! trying to catch the upside towards the wick next week.

Based on next week crystal ball 🔮 I am projecting to see a voilatile week for Tesla within the range of 200 to 240 a nice opportunity for traders

Now why I like Tesla compared to all the other MAG7 despite the hate it receives from the market. I only have 1  reason. The neumero uno reason is

Now if you compared this company to the other Mag 7. It is comparable undervalued as a tech company. If you looked at it as an EV company. Then yes is overvalued.

Other reasons with the affliation to Donald Trump, something maybe brewing at Tesla.

Alright Meme stock fans this is for you!

Let's look at Gamestop the MOASS stock. If Assuming that there is nothing happening at all, there would be a nice trading range between 21 and 25.

Sorry for those who are in the 30s looks like you are going to be stuck for awhile.

However, If MOASS happens! I would be seeing closest lowest point at 40 highest point to the 80!

Let's take a break from all the popular stocks. I am looking to dream and think about some luxury goods to own. So instead of only buying luxury goods, why not we invest in luxury goods! 👑

The reason why I am looking at luxury goods. As of late, now only regular folks are going out of the job, CEOs are going to not take up the responsibility and decided to quit at the upper management level and probably wish to retire. So what would they do with that loaded amount of cash?

Spend on luxury goods of course!

Why I would buy a Ferrari. Is not because of the loud engine performance or is a most efficient ICE car. I think of this as a status symbol that CEO would like to own after they quit their job and spend some luxury over it.

However I would be caution as currently, Institutions are taking profits. Trading range i would see between 430 to 470.

Overall my take:

I believe that there is a dip opportunity. If you wish to enter into trade, trade with caution and keep an eye out for any golden opportunities in the month of September. There are reasons why the September effects we see a lot of downtrend.

Alright folks. For those who had made losses, I wish you the best in able to recover. And those who had made it big in September. Best wishes to you and well done!

All the best and may your trade be ever in your favour! 🍀 👑