Financial News vs. Noise
We are going to start doing a live podcast with Jeremy Vreeland at Bullish/Bears every Thursday at 11:30AM EST. We will be talking markets and stocks. Feel free to shoot over questions or names you want us to cover. Will have details on how to access the stream next week.
Great bounce on Friday, this week will probably tell us whether that was just an oversold rally or the beginning of another leg up. 40% of the market cap announces earnings this week, including MSFT on Tuesday, META on Wednesday, and AMZN and APPL on Thursday. We also have the Treasury Quarterly Refunding Announcement on Wednesday. After the close today, Jensen Huang is doing a fireside chat at the SIGGRAPH Conference.
Nvidia Faces a Make-or-Break Week as AI Stocks Face Big Test-Barron’s
“Big earnings results are coming from close to $10 trillion worth of Big Tech…if last week was anything to go by, nothing short of knockout results will do.”
If that wasn’t enough, Wednesday is FOMC and Friday is non farm payrolls.
This is going to be key. A Fed Rate Cut is Finally Within View-WSJ
While Federal Reserve officials aren’t likely to change interest rates in the coming week, their meeting will nonetheless be one of the most consequential in a while.
Not just our central bank this week. Traders Fret as 32-Hour Central Bank Spree Hangs Over Market-Bloomberg
Major central banks are set to meet in Tokyo and Washington on Wednesday and London on Thursday, with traders struggling to decide if the Bank of Japan will hike interest rates and then when and by how much the Federal Reserve and Bank of England will cut them.
SPY had an undercut and rally at the 50 day on Friday so that ought to be key support.
QQQs are still a lot weaker and are about 10 points below their 50 day. The 455 area ought to be downside support.
Small caps look to be consolidating gains. So far this morning they continue to be the strongest area. Watch the 10 day for support and 227ish for a breakout.
What’s driving the market is the Fed is about to embark on an easing cycle so people buy the dips. The Dow Surged 650 Points. Here is What’s Driving the Market-Barron’s
Until proven otherwise you still need to assume the Fed has your back when the next move is a cut. Opinion: Stock investors have counted on the Fed to save them. Maybe not this time.-MarketWatch
I agree. Alphabet Drops Again-on SearchGPT. It’s Time to Buy-Barron’s
More big earnings next week. What it means is more volatility. Apple and Microsoft are among the ‘Magnificent Seven’ stocks set to report next week. Here’s what that means-CNBC Pro
Fade AI at your peril. AI Doubts Are Growing. Investors Could Be Making A Mistake-WSJ
I’m actually making the opposite argument. If anyone sold stocks in the belief that AI investment will slow, they haven’t been listening to the people doing the spending. Big Tech companies will continue to buy AI hardware from Nvidia and the other vendors.
This happens, people crowd into trades and then rush for the exits. Unless something has fundamentally changed this provides some great opportunities to buy back in at lower prices. Some of 2024’s most popular trades are coming undone after reaching ‘stupid’ levels-MarketWatch
Saylor’s BEAR case for Bitcoin is $3 Million by 2045. That undercut and rally at the 200 day looks like it was a killer entry point. Looks a bit extended at the moment.
Trump also joined in. Trump Adds Crypto to His ‘America First’ Agenda-WSJ
The Republican presidential candidate pledges to create a national bitcoin stockpile and form a council to set regulatory policy
Subscribe to our other newsletters
Laffer Tengler Research Bulletin
Matthew Tuttle is the Chief Executive Officer and Chief Investment Officer of Tuttle Capital Management, LLC.
At Tuttle Capital Management (“TCM”), we want to help educate investors about different ways to allocate and manage assets. TCM strives to create innovative portfolio management tools coupled with investment strategies designed to help mitigate risks and potentially enhance returns.
The views and opinions expressed herein are those of the Chief Executive Officer and Portfolio Manager for Tuttle Capital Management (TCM) and are subject to change without notice. The data and information provided is derived from sources deemed to be reliable but we cannot guarantee its accuracy. Investing in securities is subject to risk including the possible loss of principal. Trade notifications are for informational purposes only. TCM offers fully transparent ETFs and provides trade information for all actively managed ETFs. TCM's statements are not an endorsement of any company or a recommendation to buy, sell or hold any security. Trade notification files are not provided until full trade execution at the end of a trading day. The time stamp of the email is the time of file upload and not necessarily the exact time of the trades.
Tuttle Capital Management is not a commodity trading advisor and content provided regarding commodity interests is for informational purposes only and should not be construed as a recommendation. Investment recommendations for any securities or product may be made only after a comprehensive suitability review of the investor’s financial situation.
© 2024 Tuttle Capital Management LLC (TCM). TCM is a SEC-Registered Investment Adviser. All rights reserved.
