PROFIT PATH REPORT: “Hammer Time” for LLY
In technical analysis, one of the “candlesticks” we can look for in a downtrend and after a significant sell off is called a “hammer” candle. This candlestick pattern often serves as an early indication of a potential bullish reversal, signaling that selling pressure is beginning to wane. The hammer candlestick is differentiated primarily by three […]
PROFIT PATH REPORT: New pressure on stocks?
In general, there’s a negative correlation of the US Dollar (DXY) with US equities (S&P 500 – SPX), suggesting that when the value of the US dollar increases, the S&P 500 tends to decrease, and vice versa. The 1-year correlation coefficient between the U.S. Dollar Index (DXY) and the S&P 500 (SPX) is approximately -0.80. […]
PROFIT PATH REPORT: Do we have the momentum?
With the recent U.S Presidential election results finalized, markets have reacted positively with momentum, experiencing a swift upward surge in prices over a short period. One of the market gauges we can use to assess market momentum is the Momentum Factor ETF (MTUM), which measures the performance of U.S. large & mid cap stocks that […]
PROFIT PATH REPORT: Crypto on the Nasdaq
Several equities exhibit a positive correlation with the price of Bitcoin, and can be traded on U.S. stock exchanges as a proxy. One notable example is Coinbase (COIN – Nasdaq), one of the largest digital currency exchanges in the United States, which facilitates the buying, selling, storing, and transferring of cryptocurrency. The 60-day rolling correlation […]
PROFIT PATH REPORT: Don’t Forget to Stop and Smell the Lily (LLY)
Don’t Forget to Stop and Smell the Lily (LLY Eli Lilly & Co. (LLY) reported 3rd quarter 2024 earnings of $1.18 per share on October 30th, 2024 before the market opened. This missed consensus analyst estimates of $1.47 by -0.29. Upon the market opening 10/30/24, LLY gapped down $105.08 per share from the previous day’s […]
PROFIT PATH REPORT: The Apple of my (Market) Eye
Apple, Inc. (AAPL), as many know, plays a key role in the equity market: as a top “risk-on” trading name, a longer term holding in many institutional/individual portfolios, and its impact on the broader markets. Apple is the #1 weighted holding in both the S&P 500 (SPY) and Nasdaq (QQQ) Indexes: So, as active market […]
PROFIT PATH REPORT: Flip a (Bit)coin – Heads or Tails?
Many market participants are getting excited about Bitcoin again. It’s not without good reasons: Recent bullishness coming back in early September 2024 Price bouncing up from around the former August 2024 lows Ample liquidity coming into global markets Price as of intra-day morning 10/15/24 is trading in a tight indecision “doji” candle, and holding above […]
PROFIT PATH REPORT: Will the election juice the market?
We’re gearing up for a very active Q4! As the United States heads into the November 2024 elections (and for those who incorporate seasonality “checkboxes” into their trading/investment plans), October can be a tricky month. When we look at seasonality patterns and historical market performance, market professionals will commonly refer to “the best six months,” […]
PROFIT PATH REPORT: Is “Black Gold” on the Rise Again?
It may be time to start looking at oil again. Oil prices have been rising recently due to a number of factors: Escalating conflict in the Middle East Concerns about potential disruptions Broader geopolitical tensions Sanctions on oil producing countries, such as Iran. In addition, over the longer term, the global demand for oil and […]
PROFIT PATH REPORT: A Bull Case for China
China is running with the bulls now, it seems… all on the heels of a big stimulus push by the government. This is no surprise to us. We’ve been highlighting specific trade and longer-term investment opportunities to our Steady Trader members prior to China’s recent stimulus measures. Serge Berger recently interviewed Brendan Ahern, Chief Investment […]