Slow Money: Stock Market Update 03/04/24
Navigating the Markets for Beginner Traders and Investors
“Every once in a while, the market does something so stupid it takes your breath away.”
– Jim Cramer
Powell Put Inbound?!?
Interesting that Fed Powell is speaking as all this important data is coming out! That and it’s the 1st week of the month. Expecting big swings.
We either go to the moon this week or fall off this cliff we’re climbing. Good opportunity to earn some quick money if you’re patient, nimble and DISCIPLINED enough to take early profits with the volatility.
Here’s what’s coming up this week to pay attention to:
Tues - 4:30 pm CN National People's Congress
insights into effort to save Chinese economy
Wed -
10:00 AM US Fed Chair Powell Testimony
10:00 Am US JOLTs Job Openings
Thurs -
08:15 AM EA ECB Interest Rate Decision
10:00 AM US Fed Chair Powell Testimony
Fri -
08:30 AM
US Non Farm Payrolls
US Unemployment Rate
A Technical Look
The Broader Market | S&P 500
Charts look almost exactly the same as last week’s. Price action up, Indicators up, optimism up.
Everything is priced in except the unexpected. Think about that.
Dollar will probably retreat to bottom of the range, unless something big happens in the US economy or geopolitically.
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, continues higher
Price levels - Over 500. No levels to speak of to the upside to act as resistance
This is a 1 year Daily chart of the S&P 500 index (SPY)
MACD - Flat. Leaning up
RSI - Back overbought
This is a 1 year Daily chart of the Dollar index ($DXY)
MACD - Down
RSI - Aiming to cross below 50 line
FIND A WAY TO
PUT YOUR MONEY TO WORK
Long-Term Holdings
This Month’s Long-term Stock Pick
Pfizer PFE 0.00%↑ Current Price: $26.59
Might be the government’s go-to company for vaccines. What they do is wrong, unequivocally, but their position economically is beneficial for its investors. Pfizer is the world's biggest pharmaceutical company in terms of revenue at the moment.
Wrestle with your conscience and make a decision that’s comfortable for you.
BUSINESS SUMMARY (source: TdAmeritrade)
Pfizer Inc. is a research-based global biopharmaceutical company. The Company is engaged in the discovery, development, manufacture, marketing, sale and distribution of biopharmaceutical products worldwide. Its Biopharma segment is engaged in the science-based biopharmaceutical business. Its Biopharma segment includes the Pfizer Oncology Division, the Pfizer U.S. Commercial Division, and the Pfizer International Commercial Division. Its product categories include oncology, primary care and specialty care. Its Oncology products include Ibrance, Xtandi, Inlyta, Bosulif, Lorbrena, Braftovi, Mektovi, Padcev, Adcetris, Talzenna, Tukysa, Elrexfio and Tivdak. Its primary care products include Eliquis, Nurtec ODT/Vydura, Comirnaty, the Prevnar family, Abrysvo, FSME/IMMUN-TicoVac, Paxlovid and Lucira by Pfizer. Its specialty care products include Xeljanz, Enbrel (outside the U.S. and Canada), Inflectra, Cibinqo, Litfulo, Vyndaqel family, Genotropin, Sulperazon, Zavicefta, Medrol and Panzyga.
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.”