Market Outlook 14-18 Oct ๐ฅ๐
$S&P 500 Index (.SPX.US)$ broke 5800 on Friday night and set new highs (again)๐ฅณ That sets the momentum strong for the last quarter of earning seasons! My favourite $NASDAQ 100 Index (.NDX.US)$ has also broken itโs psychological 20,000 mark ๐ฅ
If you have followed my last ๐ฆMarket outlook 7-11 Oct 2024 congrats! Was pretty on track for my insights to have called on bullish momentum for $S&P 500 Index (.SPX.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Vanguard S&P 500 ETF (VOO.US)$ as well as $NASDAQ 100 Index (.NDX.US)$ to range between 19700-20300 (hit 20303 before closing at 20271. Also, last week provided decent ratings on $JPMorgan (JPM.US)$ $Wells Fargo & Co (WFC.US)$ and they ๐ decently. $NVIDIA (NVDA.US)$ broke $130 and momentum still intact. $Tesla (TSLA.US)$ Robotaxi was a bummer event for most investors, I would add more only at $200 region for now.
SOโฆ whatโs the outlook for next week bear bear Craig? (14-18 Oct)
Earnings call by each day as detailed below with itโs rating outlook.
Monday:The big focus is on Chinaโs new economic boost plan over the weekend which might help their real estate and stock markets. Consider the usual suspects: $Direxion Daily FTSE China Bull 3X Shares ETF (YINN.US)$ $Hang Seng Index (800000.HK)$ $KraneShares CSI China Internet ETF (KWEB.US)$ $XIAOMI-W (01810.HK)$ $Futu Holdings Ltd (FUTU.US)$ $Xtrackers Harvest CSI 300 China A-Shares ETF (ASHR.US)$ $iShares China Large-Cap ETF (FXI.US)$ 6/10 โญ๏ธ
Tuesday: $Charles Schwab (SCHW.US)$ 5/10 โญ๏ธ $Bank of America (BAC.US)$ $Bank of America (BAC.US)$ 7/10 โญ๏ธ $Citigroup (C.US)$ 6/10 โญ๏ธ
Tuesday: $Charles Schwab (SCHW.US)$ 5/10 โญ๏ธ $Bank of America (BAC.US)$ $Bank of America (BAC.US)$ 7/10 โญ๏ธ $Citigroup (C.US)$ 6/10 โญ๏ธ
Health care companies also reporting their earnings: $Walgreens Boots Alliance (WBA.US)$ 6/10 โญ๏ธ $Johnson & Johnson (JNJ.US)$ 5/10 โญ๏ธ $UnitedHealth (UNH.US)$ 7/10 โญ๏ธ
Wednesday: $Morgan Stanley (MS.US)$ 7/10 โญ๏ธ $Abbott Laboratories (ABT.US)$ 4/10 โญ๏ธ
Thursday: $Taiwan Semiconductor (TSM.US)$ $Netflix (NFLX.US)$ 7.5/10 โญ๏ธ
Friday: $Procter & Gamble (PG.US)$ 6/10 โญ๏ธ $AMEX (AMEX.US)$ 7/10 โญ๏ธ
Friday: $Procter & Gamble (PG.US)$ 6/10 โญ๏ธ $AMEX (AMEX.US)$ 7/10 โญ๏ธ
๐ฎ: Donโt fight the bulls. Last quarter of the year is usually period for window dressing, especially when Nov election is near. Market may suprise us over and over again. This week $Financial Select Sector SPDR Fund (XLF.US)$ will be ๐ฅ Will there be Christmas rally to bring $S&P 500 Index (.SPX.US)$ $NASDAQ 100 Index (.NDX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ to new heights? 8/10 โญ๏ธ
$S&P 500 Index (.SPX.US)$ bullish momentum intact. Thursday and friday may see some light retracement (best time of bears to cut losses/load more for bulls before year end) week range 5775-5890. $NASDAQ 100 Index (.NDX.US)$ welcome back to 20,000. Week range 19900-20750. $NVIDIA (NVDA.US)$ to stay within range 130-137 $Tesla (TSLA.US)$ wonโt be touching till it hits 200 and below.
โฌ๏ธ Any stars above 7, do consider.
While S&P500 has made at least 5 highs. NDX100 has yet to claim new highs, many opportunities!
๐: Due to my busy work schedule for year end, I aim to update 2-3 times per week only. So keep a lookout! Many Opportunities will be shared.
If you like me to comment of any of your positions, comment โฌ๏ธ
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Foodie Investor : What does the rating mean? On a scale of 1-10 to buy or to short?
Bear Bear Craig OP Foodie Investor : 1 weakest buy
10 strongest buy