Our Live Trading Rooms Bring Together Thousands of Traders from Around the World!Learn More
Mptrader Out Front: Wednesday, October 27th, 2021 Yesterday, we discussed the directional reaction potential of MSFT, AMD, and GOOG based on my near-term technical setups, which I am happy to report, proved useful and accurate. Where are these stocks now in relation to what the technical setups were telling us ahead of the news? MSFT-- This is what my work was telling me before earnings: Heading into earnings, MSFT exhibits a near-term pattern that indicates the current upleg from 280.25 (10/04) has unfinished business on the upside that projects into the 320-325 target zone.
Your Cash Is Trash: 2 Big Dividends That Won't Stop GrowingWe love cash, don't we? Greenbacks. Bucks. Benjamins. The almighty dollar. We have a lot of nicknames for cash and whatever we call it, we want more!The issue is that when inflation is rearing its head, cash is no longer almighty or powerful. It is trash. Inflation is the erosion of the value of your cash. Each dollar becomes less effective as inflation works against it. Whether you go to the gas station, grocery store, or even the dollar store, you find that your dollar buys less.
I wish there was something for me to add to the weekend analysis, or last week’s analysis, but we are still cautiously optimistic that the market can complete 5-waves up in the coming week or so. And, until we do, there really is no strong indication that a bottom has indeed been struck in this LONG pullback.And, while I can count 5 waves up in GDXJ, we still have the same issue I have been highlighting of late – is this a 5-wave c-wave of yellow 4, or is it wave [i] of the next rally phase.
Our Technical Analysts Share Their Expertise 24/7 on a Vast Range of Markets!Learn More
Our Free Educational Presentations & Articles Reach Audiences Across Scores of Sites!Learn More