Hey Trader,
Finding True Guidance in Trading and Life
I hope this message finds you well. I wanted to share a verse that has inspired me and could offer valuable perspective as you navigate your trading journey:
"A person may think their own ways are right, but the Lord weighs the heart." - Proverbs 21:2
In the world of trading, we often rely on our strategies, analysis, and intuition to make decisions. However, this verse reminds us that while we may believe our methods are sound, true wisdom and guidance come from a higher source.
As traders, it's easy to get caught up in the pursuit of profits and market predictions. But let's not forget the importance of integrity, humility, and seeking guidance beyond our understanding. The Lord looks beyond our actions to the intentions of our hearts.
By aligning our actions with our values and seeking divine guidance, we can find greater fulfillment and success not just in our trades, but in all aspects of life.
May this verse inspire you to reflect on your journey, seek wisdom, and approach each trade with a heart grounded in faith and integrity. Wishing you abundant blessings!
Be Relentless In Pursuit Of The Will
Which God Has Set Upon Your Heart,
Anthony Speciale
Dow Drops 600 Points in Worst Day of 2024
The stock market took a significant hit on Thursday.
Here's a quick rundown of the day's action:
Dow Jones Industrial Average: Fell 605.78 points (1.53%), closing at 39,065.26.
S&P 500: Dropped 0.74%, ending at 5,267.84.
Nasdaq Composite: Decreased 0.39%, finishing at 16,736.03.
Nvidia Shines but Can’t Save the Market
Nvidia reported stellar fiscal first-quarter results and announced a 10-for-1 stock split. This led to a 9.3% surge in its share price, pushing it above $1,000. Nvidia’s revenue guidance of $28 billion for the next quarter exceeded expectations, reflecting its strong momentum in the AI sector. Despite this, the broader market remained unimpressed.
Market Breadth Wanes
While Nvidia soared, more than 400 stocks in the S&P 500 were down, showing a lack of market breadth. The only sector that saw gains was information technology.
Economic Data Concerns
Strong economic data further dampened investor sentiment. Better-than-expected services and manufacturing data, along with lower-than-expected initial jobless claims, reduced the likelihood of a Federal Reserve rate cut in September. Traders now see just a 51% chance of a rate cut, down from 58% a day earlier.
Stay Informed, Stay Ahead: Join the Speciale Analysis Family of Traders
S&P 500 Retail Analysis for Friday: May 24, 2024
Let's break down some important numbers for you to keep an eye . . .
If we see the market push towards 5344.00, there's a good chance of resistance being found and price could then push lower towards 5259.00 intraday. Potentially continuing to fall from there if selling pressure amounts.
But if the market goes up and closing above 5344.00, it could mean that the buying pressure might be ramping up, and we might start seeing things keep climbing. Perhaps even towards 5634.00 on the horizon, and maybe even beyond that in time.
CLICK HERE For Professional Analysis Reports - Including: Intraday Trading Levels, Short & Long Term Expectations, Full Write-Ups and Chart Images ... Delivered Daily
So, keep an eye on these numbers, and let's see where the market takes us!
Happy Trading,
Speciale Analysis
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