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Top Stock Picks For Week Of June 24, 2024

Top Stock Picks For Week Of June 24, 2024

Image Source: UnsplashMicron Technology (MU – Free Report) has established itself as one of the leading worldwide providers of semiconductor memory solutions. Micron is benefiting from improved market conditions, robust sales executions, and strong growth across multiple business units. The positive impact of inventory improvement in the data center, as well as stabilization in other markets, such as automotive, […]
Nasdaq 100 & S&P 500 Elliott Wave Update – Monday, June 24

Nasdaq 100 & S&P 500 Elliott Wave Update – Monday, June 24

Image Source: PixabayMixed markets on Monday – ES and NQ lower with the DJI and RTY higher. Pulling the NQ lower was the continued correction within NVDA, SMCI and AVGO. I have made a small adjustment to the labeling as I discussed within the Podcasts presented on Saturday. Both moves lower continue to present a more […]
Nvidia’s Market Cap Takes Significant Hits Amid Pedestrian Pullbacks

Nvidia’s Market Cap Takes Significant Hits Amid Pedestrian Pullbacks

Image Source: PixabayUS stocks had a mixed Monday as the previous week’s AI and semiconductor sell-off weighed on the S&P 500 and Nasdaq.The Dow Jones Industrial Average rose by 0.7%, while the S&P 500 fell by 0.3% and the Nasdaq Composite dropped by 1.1%, impacted by ongoing concerns in the tech sector. Nvidia (NVDA) shares experienced […]
USD/CAD Remains On The Defensive Near 1.3650 Ahead Of Canadian CPI Data

USD/CAD Remains On The Defensive Near 1.3650 Ahead Of Canadian CPI Data

Photo by Michelle Spollen on Unsplash USD/CAD posts modest gains near 1.3655 in Tuesday’s early Asian session.  BoC Governor Tiff Macklem said the Canadian economy is on track for a soft landing.  Investors await the release of the US GDP growth number on Thursday and the PCE Price Index on Friday.  The USD/CAD pair remains on the defensive […]
Stocks And Precious Metals Charts – At The Threshold Of Damnation

Stocks And Precious Metals Charts – At The Threshold Of Damnation

Image Source: UnsplashStocks traded weakly for much of the day and then dumped off into the lows in the last hour of trading.The Dollar dropped.Silver marched in place, while gold took a bounce and held it.VIX is wallowing as usual. The madness serves none but itself.Why can’t we understand this?I remember you all in my prayers.Have a […]
EUR/USD Catches A Ride On Broad-Market Greenback Weakness 
                    
 

EUR/USD Catches A Ride On Broad-Market Greenback Weakness  

Image Source: Pixabay EUR/USD recovered from last week’s downside but remains hung up on 1.0730. As USD flows turned lower, Euro traders shrugged off a miss in German data. Tuesday restricted to mid-tier releases and a fistful of central planner speeches. EUR/USD drifted up in a mild recovery from last Friday’s dip into 1.0670. The new […]
Stocks Stall As Nvidia And Bitcoin Tank

Stocks Stall As Nvidia And Bitcoin Tank

Image Source: PixabayThe S&P 500 finished the day down 31 bps, with most losses coming in the final minutes. There was even a buy imbalance at 3:50 PM. Despite this, a lopsided 353 stocks were advancing in the index versus just 146 stocks declining; Nvidia’s (NVDA) shares falling by around 5% weighed on the overall index, […]
Amazon Is Building A ChatGPT Rival Codenamed ‘Metis’

Amazon Is Building A ChatGPT Rival Codenamed ‘Metis’

Image Source: Unsplash CEO Andy Jassy is personally overseeing the ‘Metis’ project. Amazon chief executive expects AI to be the next growth driver. BofA analysts reiterated their buy rating on Amazon stock today. Amazon.com Inc (AMZN) is in focus today following a report that it’s working on a new AI chatbot that will compete with the […]
AUD/JPY Price Analysis: Hits 17-Year High Above 106.00 On JPY Weakness

AUD/JPY Price Analysis: Hits 17-Year High Above 106.00 On JPY Weakness

Image Source: Unsplash AUD/JPY hits a 17-year peak at 106.37, following the BoJ’s decision to maintain interest rates. Technicals indicate a strong uptrend with RSI in bullish territory; upcoming resistance at 106.50 and 107.00. Support levels include Tenkan-Sen at 104.98, Senkou Span A at 104.73, and Kijun-Sen at 104.49. The Australian Dollar surged to a new […]
Current Analysis: EDP

Current Analysis: EDP

Image Source: PixabayEDP (EDPFY) is a vertically integrated utility company and is the largest generator, supplier, and distributor of electricity in Portugal.In addition to Portugal, EDP has sizable operations in Spain, Brazil, and the US EDP owns 71% of EDP Renovaveis, the fourth-largest wind power owner/operator in the world.EDP also owns 54% of Energias do Brasil, […]