Thursday 25 April
Good Morning,
The story of the day was Meta, falling after hours to the $400 mark on increased Capex spending and CEO Mark Zuckerberg mentioning the dreaded word ‘metaverse’ in the conference call. Meta filled the January gap perfectly from January’s earnings. Meta is trading at $428 pre market. I am a buyer of Meta at $400. Boeing was downgraded by Moody’s yesterday, it may seem counter intuitive but when you see Moody’s downgrades it is often the sign of a bottom. I bought BA yesterday at $162.50. Moody’s downgraded the S&P last year just before the S&P ran up 25%. If we trade down to 4750 I will add more of both of these.
DATA REALEASES
QoQ GDP data is released today 1 hour before the open, the PCE data is out tomorrow also at 8.30am ET.
MEMBERS ZONE:
SPX SHORT TERM & LONG TERM LEVELS. THE IMPORTANCE OF MARKET TIMING IN A 7 YEAR CYCLE. US 500 BOLLINGER BANDS. THU/FRI GAMMA SUPPORT RESISTANCE LEVELS.