Slow Money: Stock Market Update 04/08/24
Navigating the Markets for Beginner Traders and Investors
Here’s a trade I’m in. Bullish/Long USDJPY. The red zone represents the risk I was willing to take, with the stop loss present at the bottom of the zone. The green zone represents the desired profit target.
"Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas." — Paul Samuelson
Here’s what’s coming up this week to pay attention to:
Wednesday April 10 2024
8:30 AM US Inflation data
2:00 PM US FOMC minutes
Thurs April 11 2024
8:15 AM EA ECB interest rate decision
8:30 AM US PPI
Look at the charts: A Technical Basis
The Broader Market | S&P 500
Bond yields highest since November 2023. Huge drop last Thursday of almost 2%.
This is a 3 year Weekly chart of the S&P 500 index (SPY)
Signs of weakness
MACD - Signal and MACD line continue higher.
RSI - Overbought
Price levels - 1st weak candle since Nov 2023
This is a 1 year Daily chart of the S&P 500 index (SPY)
MACD - Negative divergence. Not supporting higher prices
RSI - Negative divergence.
Price levels - signs of weakness
This is a 1 year Daily chart of the Dollar index ($DXY)
MACD - Above zero line
RSI - Trending upwards, down move to RSI
Price levels - 20ma crossed above 200ma. Solid 105 resistance.
FIND A WAY TO
PUT YOUR MONEY TO WORK
Long-Term Holdings
This Month’s Long-term Stock Pick
Cash
- just having money in my account, ready to buy stocks when prices in stocks retreat.
Best case scenario, the market crashes/corrects and a bunch of stuff gets cheaper.
Worst case scenario, market goes higher and I keep storing cash while the money already invested goes higher with the market.
That’s the best part about having good stocks. Either way, you win.
Things I’d like to grab if there’s a drop? AT&T ($T), 3M ($MMM), DISNEY ($DIS), BLOCK INC ($SQ)
If I didn’t have a long term and I was just starting? ALIBABA ($BABA), NEWELL BRANDS ($NWL)
Where My Money Is Currently
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.”