Dow, S&P 500 Eye Best Week Since November 2023
More gains today have the S&P 500 Index (SPX) and Dow Jones Industrial Average (DJI) on track for their best weekly wins since November 2023. Both benchmarks earlier hit fresh peaks, the latter briefly clearing 44,000 for the first time ever, as investors continue to react positively to the Federal Reserve’s interest rate cut and Donald Trump’s […]
Elliott Wave Technical Analysis: Visa Inc. – Friday, Nov. 8
V Elliott Wave Analysis Trading LoungeVisa Inc., (V) Daily ChartV Elliott Wave Technical AnalysisFUNCTION: TrendMODE: ImpulsiveSTRUCTURE: MotivePOSITION: Wave 5 of (1).DIRECTION: Upside in wave 5.DETAILS: Looking for continuation within wave (1) as we have just broken above TradingLevel3 at 300$, we could expect resistance within MinorGroup1, especially around 320$.Visa Inc., (V) 1H ChartV Elliott Wave Technical AnalysisFUNCTION: […]
S&P 500 Earnings Dashboard 24Q3 – Friday, Nov. 8
Image Source: Pexels S&P 500 Aggregate Estimates and Revisions 24Q3 Y/Y earnings are expected to be 8.6%. Excluding the energy sector, the Y/Y earnings estimate is 11.3%. Of the 449 companies in the S&P 500 that have reported earnings to date for 24Q3, 76.2% reported above analyst expectations. This compares to a long-term average of 66.9%. The 24Q3 Y/Y blended revenue growth estimate is 5.3%. If the energy sector is […]
Sensex Today Ends 55 Points Lower; Nifty Below 24,150
After opening the day lower, Indian benchmark indices continued the downtrend as the session progressed and ended the day on a negative note.Nifty 50, Sensex extend slide to 2nd day; mid and smallcaps face heavy selling pressure.At the closing bell, the BSE Sensex stood lower by 55 points (down 0.1%).Meanwhile, the NSE Nifty closed lower by 51 points (down […]
Intuit Inc (INTU) DCF Valuation: Is The Stock Undervalued?
As part of a new series, each week we typically conduct a DCF on one of the companies in our screens. This week we thought we’d take a look at one of the stocks that is not currently in our screens, Intuit Inc (INTU). ProfileIntuit is a provider of small-business accounting software (QuickBooks), personal tax solutions […]
Europe’s Problems Just Got Bigger After Trump’s Victory
Image Source: Pixabay A look at the new challenges Europe now faces after Donald Trump’s stunning election victory. This may, however, be the kick the continent needs to sort out its deep-seated structural problems. Europe’s problems just got bigger with Trump’s election victoryIf it’s ‘America First’ with a newly elected Donald Trump, then Europe’s problems just […]
Accumulate Exactly These Assets
Not too much of a premarket S&P 500 ascent yesterday, but buying after the open, then a little stumble into Powell – I was convinced he would deliver 25bp, and the same applies to correctly forecasted reactions across the three indices (Powell pleasantly surprised, so no dip in ES or NDX offered) – and clearly rose on […]
EUR/CHF Price Forecast: Triangle Pattern Completing, Breakout To Follow
EUR/CHF has formed a Triangle pattern which looks poised to breakout A downside break is marginally more probable given the longer-term trend is bearish. EUR/CHF has formed a Triangle pattern over the last three months which looks like it is on the verge of completing as it tapers to a tip at around 0.9400. A […]
Stocks Rallied: What’s Next For The Market?
Stocks continue to reach new record highs. Are they approaching a medium-term top?The Thursday trading session brought another record-breaking advance for the stock market, additionally fueled by the FOMC’s interest rate cut. The S&P 500 index gained 0.74%, reaching a new record high of 5,983.84. However, the Fed announcement did little to sustain a rally, […]
As Expected The Fed Cut Rates
As expected yesterday, the Fed cut the Fed Funds rate. With the expected 25bps rate cut, the new range for Fed Funds is 4.50-4.75%. The redlined second paragraph below, regarding inflation, is the only meaningful change to the FOMC statement. We think the Fed made the change to present a more hawkish stance. Furthermore, it […]
