Slow Money: Stock Market Update 03/26/24
Navigating the Markets for Beginner Traders and Investors
**slide from my stock market course**
If there is one common theme to the vast range of the world’s financial crises, it is that excessive debt accumulation, whether by the government, banks, corporations, or consumers, often poses greater systemic risks than it seems during a boom." — Carmen Reinhart
Here’s what’s coming up this week to pay attention to:
Nothing Till Friday
07:30 AM US Core PCE Price Index MoM
10:30 AM Fed Chair Powell Speech
New Stock Course!
ETA April 1st 2024
The course covers the basics of stock trading and investing. It’ll be a useful resource for someone who couldn’t tell the difference between a stock and a rock, but have a desire to learn. The stock course will also be useful for those who are familiar with the market, but have never taken the time to learn. In it, I make the process as simple as possible.
From no/little experience to funding your account and making your first trade or buying your first long-term investment.
Use code “slowmoney” for 25% off when I release it.
Look at the charts: A Technical Basis
The Broader Market | S&P 500
Idk man. Timing the market, predicting the market. It doesn’t work, in general.
But this is as spooky a place as I’ve seen since I began trading/investing. A fall from here to the previous all-time high set in Jan 2022, $479.98, would be about 8%. A healthy correction and hopefully a buying opportunity for some stocks to add to the long-term.
Having a hard time justifying buying anything. As for trading, taking smaller upside profits might be a good idea here if you’re able to find any opportunities.
Fed has made their plans clear and the market has accepted it. A Black Swan, an unexpected market or global event, is what could stop this rise. Otherwise, we keep going up probably.
This is a 3 year Weekly chart of the S&P 500 index (SPY)
Bearish weeks lack follow through, bullish weeks full of conviction.
MACD - weakening, indicated by that downward sloping line I drew over the histograms. Signal and MACD line continue higher
RSI - Overbought, still moving with price
Price levels - Stalled
This is a 1 year Daily chart of the S&P 500 index (SPY)
MACD - Flat. Not supporting higher prices
RSI - Negative divergence official. Falling towards 50 midline.
Price levels - 3 sell days, but very small candles. Let’s see what it does at that bottom trendline I drew
This is a 1 year Daily chart of the Dollar index ($DXY)
MACD - Crossed green, pushing above zero line
RSI - Trending upwards
Price levels - Pushed right through upper price range and over 200 MA.
FIND A WAY TO
PUT YOUR MONEY TO WORK
Long-Term Holdings
This Month’s Long-term Stock Pick
Pfizer PFE 0.00%↑ Price originally: $26.59 Current Price: $27.43 (Up 3.1%)
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%↑ NWL 0.00%↑ BABA 0.00%↑
My Son’s Long-Term Holdings: DIS 0.00%↑ RBLX 0.00%↑ PFE 0.00%↑ AGNC 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 Slow Money 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.”