Slow Money: Stock Market Update 02/26/24
Navigating the Markets for Beginner Traders and Investors
“Wealth is when small efforts produce big results. Poverty is when big efforts produce small results.”
– Unknown
Here’s what’s coming up this week to pay attention to:
Mon -
10:00 AM US New Home Sales
11:00 AM EA ECB President Lagarde Speech
06:30 PM JP Inflation Rate YoY
Tues -
09:05 AM US Fed Barr Speech
Wed -
12:00 PM US Fed Bostic Speech
12:15 PM US Fed Collins Speech
12:45 PM US Fed Williams Speech
Thurs -
08:30 AM
US Core PCE Price Index MoM
Personal Income MoM
Personal Spending MoM
PCE Price Index MoM
10:50 AM US Fed Bostic Speech
11:00 AM US Fed Goolsbee Speech
Fri -
05:00 AM EA Inflation Rate YoY Flash
10:00 AM
US ISM Manufacturing PMI
Michigan Consumer Sentiment Final
10:15 AM
US Fed Waller Speech
12:15 PM Fed Bostic Speech
1:30 PM Fed Daly Speech
3:30 PM Fed Kugler Speech
FedWatch Tool
May odds continue to slide. Lot of Fed speakers this week and some important data points.
EARNINGS THIS WEEK
A Technical Look
The Broader Market | S&P 500
Over 500 and chillin! Unfamiliar territory for everyone. Least resistance still appears to be upwards.
Standing by my anticipation from last week’s publication. Just a wait and a see. No trading for me this week in the equity markets. Still trading forex.
Looking for long-term picks to add to my portfolio that aren’t really expensive. Movement on SQ was nice to see.
This is a 3 year Weekly chart of the S&P 500 index (SPY)
Bears stay away, bulls enjoy the ride 🤷🏾♂️
MACD - Strong bullish
RSI - Overbought
Price levels - Over 500. No levels to speak of
This is a 1 year Daily chart of the S&P 500 index (SPY)
Technicals don’t agree with price movement. If I was long, I would have been taking profits…and I would have left a lot of money on the table, that much is clear.
MACD - Flat. not supporting price rise, but unable to halt it.
RSI - Negative divergence. Not supporting price rise.
This is a 1 year Daily chart of the Dollar index ($DXY)
Sitting at support, 21 Day MA
MACD - Officially crossed down
RSI - Above 50 line which is bullish
FIND A WAY TO
PUT YOUR MONEY TO WORK
Long-Term Holdings
This Month’s Long-term Stock Pick
Block Inc SQ 0.00%↑ Current Price: $78.92 (up 14.34% since feature)
This is in line with philosophy that you should own what you use. Cashapp is an awesome app, in my opinion. So many businesses use Square, particularly smaller businesses.
My personal connection comes whenever I deal with young students/athletes in my line of work. They all have cashapp and do a lot of their smaller transactions on there. Their parents send them money directly to their cashapps for whatever they need. Food trucks, something my family likes to do whenever we get a chance, all take cashapp as well as our hair stylists.
I have a small portfolio of stocks on there as well. Super easy to buy and sell. Dividend push notifications are my favorite!
Anyways, not that I’ve sold you here, I enjoy the app and see a deep value in a finance app that appeals to younger consumers and small businesses.
BUSINESS SUMMARY (source: TdAmeritrade)
Block, Inc. is focused on creating ecosystems for distinct customer audiences. The Company operates through two segments: Square and Cash App. The Square segment enables businesses (sellers) to accept card payments, which provides products and services to help its sellers start, run, and grow their businesses. It combines software, hardware, and financial services to create products and services that are self-serve. The Cash App segment provides an ecosystem of financial products and services to help consumers manage their money. It provides an ecosystem of financial services focused on helping consumers make their money go further by storing, sending, receiving, spending, or investing their money with Cash App. The Company's TIDAL is a global platform for musicians and their fans that uses content, experiences, and features to bring fans closer to artists. Its bitcoin ecosystem includes Spiral, an independent team focused on contributing to bitcoin's open-source work
Where My Money Is
My Current Swing Trade Positions: None
My Current Long-Term Holdings: MMM 0.00%↑ WBA 0.00%↑ PFE 0.00%↑ T 0.00%↑ KO 0.00%↑ O 0.00%↑ SBUX 0.00%↑ SQ 0.00%↑ AAPL 0.00%↑
My Son’s Long-Term Holdings: DIS 0.00%↑ RBLX 0.00%↑ O 0.00%↑ PFE 0.00%↑
My Daughter’s Long-Term Holdings: DIS 0.00%↑ SNAP 0.00%↑ AGNC 0.00%↑ PFE 0.00%↑
Disclaimer. Must Read.
Please read 👇
“This newsletter and all related Market Adventures content is not investing advice. Everything you are about to read is merely the opinion of the writer. Please seek the counsel of a financial advisor prior to making any investment decisions. Though the stock market does present many opportunities to make money, there are an infinite number of ways to lose all or more than your original investment. That being said. Don’t invest or trade in any security mentioned in this publication or its related content.”