Trading the Charts for Friday, May 5th
In addition to my “Trading the Charts” newsletter, below are a few more newsletters that I publish plus my Investing with the Whales podcast, my Stocktwits room and my Seeking Alpha investment service.
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Good morning and Happy Friday,
Jobs report turned out to be a non-event this morning with futures looking good…
although yields are popping…
Currently there’s a 91.5% chance of no rate hike at the June FOMC meeting, but let’s see if that number changes once we see the impact from the morning Jobs report.
The market-cap weighted indexes QQQ and SPY continue to outperform the equal-weighted indexes QQQE and RSP which just means the largest companies ie AAPL MSFT META NVDA TSLA GOOG etc are holding up the indexes with the average stock/company not doing as well.
SPX looking to reclaim the 50d ema today…
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