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Markets rally as recession fears ease: Take action or stay patient?
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Aaron Invests (AI) joined discussion ยท Aug 2 21:12

Will we ever recover this week? ๐Ÿ˜ซ๐Ÿ˜ข๐Ÿค’ This is crucial!

Hey mooers,
Hope you still have the energy โšก this weekend to recharge yourself after all the watch of the red market as well as the Olympics of Paris 2024.
Looks like the Bears ๐Ÿป had won this week and I would like to congratulate you. You guys have a sharp eyes and manage to protect yourself during the downfall.
Thank you for reading on the article titled:
It highly encourages me to continue on with this weekend series and allow us to learn more together.
I would like to thank @AhHuatLu @In One Chart @momobie @Greenhorn Dav for some ideas on what to discuss for this week. You guys are the best!
Last week polls unfortunately we the people got it wrong . We did not recover instead, it goes the opposite. Thats alright, mistakes happen we just fix ourselves ya.
Will we ever recover this week? ๐Ÿ˜ซ๐Ÿ˜ข๐Ÿค’ This is crucial!
Ok!! With all that being said. Remember this is my own opinion and is not financial advice. Some information may not be accurate and need to be tweak. Trade with your own due diligence.
Macros Major Highlight
Boy I got to tell you the Macro's doesn't sound to good.
For one thing look at the non-farm payroll.
Will we ever recover this week? ๐Ÿ˜ซ๐Ÿ˜ข๐Ÿค’ This is crucial!
Credits to @In One Chart
Looks like the government and the manufacturing is taking the cake of helping out the people in the pay. While the service sector is reducing their payroll. With the recent job cut at $Intel (INTC.US)$ $Tesla (TSLA.US)$ and $Amazon (AMZN.US)$ย  we may be watching a burnout in the tech sector.
Artificial intelligence workers maybe burning out and might have a slowdown in development. With all that said. There could be a possibility that machines are making machines with generative AI which may not be a need of workers.
Workers are rumoured to be burned out due to upper management expects higher productivity at a lower cost leading to the tech burn out. ๐Ÿ”ฅ ๐Ÿ”ฅ Yes there is an increase in productivity thanks to AI. However relying on it to increase productivity lead to expectation and cause exhaustion and more work instead of less work for workers staying. Leading them to leave the job instead.
Overall, I'm seeing more lower purchasing power ahead.
Bosses please sayang your workers. they are your future of the company. Don't over push them to make robot ๐Ÿค– work for you. Be kind.
Index
The Dow is an indicator of the US general Economy. In general we are looking that the economy is sick and uncertain.
Technicals down below. ๐Ÿ‘‡
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Based on the chart readings, we are seeing an obvious double top right at the end of July. What that means is that we may see a further downtrend in the Dow for the next quarter.
Next support line we maybe seeing is at 39550. I would say a high chances of falling rather than an uptrend sadly. highest it may go could be remaining at 40000 is at if you are looking for a trade, my strategy is to either place an OTM put options when the stock had rebounded a little. Or sell first then buy back later.
This only applies to companies that are involved in the Dow index.
S&P500
The S&P 500 is looking at a test of support at the 20MA, High volume indicating there maybe further sell down in the stock market. Worse case scenario is that it would break the MA and to test support at 5200 range. Best case scenario is to see a Harami after the 3 crows for a rebound in the market. Unlikely unfortunately due to the Dow and Nasdaq influence.
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Nasdaq
Currently, indicator had shown it had broke the 20MA , anticipate to test support at 16250.
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This is the likelihood of heavy contribution in the semiconductor influence led by $NVIDIA (NVDA.US)$ weightage and $Intel (INTC.US)$ย  scenarios.
For a bullish uptrend, I need to see it goes above the trendline at 16900. Unlikely due to the death cross at MACD.
What would I do?
In this market scenario, it is really an anticipated bearish market next week. Here are some of my strategies I would consider
1. Do nothing and hold for gold ๐Ÿฅ‡ for my convicted stocks
2. Buy the lower lows and sell at the lower highs as a trader during the intraday.
3. Setup a OTM put options or place OTM covered calls. Moomoo MY please come out soon. I would love to us this tools.
4. Put my eggs out of tech and into dividend stocks or money market fund for a peace of mind for reserving cash ๐Ÿ•Š
Not financial advice ya! Do your own Due Diligence (DD)
Stock! Stonk! Stonk! Stock
I would be highlighting on the technicals and some fundamentals. For fundamentals please do your own DD as I have a lot to cover.
NVDA ๐Ÿ’ป๐Ÿค– $NVIDIA (NVDA.US)$
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Daily Indicator shows there is a double top since mid July indicating there would be more downtrend MACD shows a death cross to the down side with no signs of reversal .
Price is showing support at the 104 range before the split hype. Volume is not high enough to compensate for the higher volume. That could indicate an abnormality and a possibility of a reversal?
Based on the price action, we might see some positive signs on the daily. ๐Ÿคž
Looking at the weekly,
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We might see more testing of support phase. Although it may not touch the MA, Indicators show that there would be more bearish trendline ahead! MACD had crossed a death cross.
So what is my price action? I may see 2 scenario
1. Price ripping up at the premarket on Monday at 109 range with confidence of AI to test for reversal
2. Break weekly MA below 104 to test support line preparing as a resistance.
INTC ๐Ÿ’ป๐Ÿ’ฟ $Intel (INTC.US)$
Here are some of my followers who are watching this @AhHuatLu @momobie thank you.
Right now I am seeing more bad signs than good sign about this company.
There is more layoff of staff not because of their AI development but is due to cut jobs due to redundancy in the workplace.
Technicals may lead a value trap ahead. I am seeing a huge gap. Some say is a rebound to fill the gap but I am thinking otherwise due to fundamentals.ย  Next week we may see a bullish side to recover the gap above 22. More likely toward a the downtrend lower to below 21.
Remember there is always a sunrise and a sunset of an industry. We may see that this company goes the way of IBM or Kodak in the 90s
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Silver lining we may see an aquisition from NVDA maybe? With the trade war on Semiconductors with the likelihood of the Trump administration, there is a chance this company will be acquired by NVDA to reinnovate the semiconductors news below
News credits to @momobie
Micron Technology $Micron Technology (MU.US)$
Suggested by @Greenhorn Dav
I used to love this stock when it was in the $50 range and when is on its prime time before the pandemic. However there are some fundamental change which is concerning me.
Now why is Micron declining recently. It could possibility be a logistic issue that made them slowdown. Due to the high demand for chips, unfortunately makes them unable to fulfill the demand leading them to have lesser vendors requesting from them further. I saw similar issue happening at QCOM before.
We may see bullish uptrend if they could resolve their work related matters and fill in the demand for chips. Then this company may ramp up! ๐Ÿš€ ๐Ÿš€
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Daily price action indicates there could be a testing of the 250MA line possible rebound back to the 94. Trendline shows there is a possibility to go below 91 follow resistance lead by MACD and index.
Helmerich & Payne
Suggested by @AhHuatLu
Would this be a good stock to rotate to? Let's dive in.
With Trump likelihood of winning, some are speculating that conventional energy โšก my have a great comeback. Sentiments believe that the drilling company may help ease the pain of growth losses.
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Chart indicates that is a double top which shows there is more bearish trend. Current trade is below the MA line lead by MACD death cross. However, there might be signs for a reversal since the MA 20 had crossed the MA 250 line. So what does it mean?
Probably a stable company to invest. However, fundamentally, drilling may slowdown due to one reason. Exhaustion!
My plus point is that is pretty sable with a low price to book value and low PE
Personally I think is a hold for dividend but no growth potetial. I maybe bias toward alternative energy โšก
Meanwhile I would look into oil companies such as $Occidental Petroleum (OXY.US)$ or $Shell (SHEL.US)$ the hybrid between oil and alt energy.
Alright, I hope everyone is alright in the market. Stay Strong! ๐Ÿ’ช Do what you need to and wish your strategies are well.
Will we ever recover this week? ๐Ÿ˜ซ๐Ÿ˜ข๐Ÿค’ This is crucial!
Be well equiped like Damir Be chill like Yusuf .
Thank you @Invest With Cici @Meta Moo @In One Chart @Moomoo Lily @Moomoo Recap US @Moomoo News Global @Moo Live @Moomoo Rewards and the support team. Would love to write more of this review and attract more Moomooers.
Remember all of what I said is my own opinion and not Financial Advice. Please do your Due Diligence when investing. Stay save and stay invested.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
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Aaron Invests (AI)
Casual and Social ๐Ÿฑ โœ… Trader and investor. โœ… charts for Trades โœ… Financial reports to Invest. โœ… Scalpers โœ… swinger
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