Tech pullback
All magnificent 7 closed red yesterday. The average pullback for them is more than 2%. This is quite a rare scene.
Today, we have more big tech reporting their earnings - Apple, Amazon and Meta. If any of them disappoints, this pullback could continue.
Today, we have more big tech reporting their earnings - Apple, Amazon and Meta. If any of them disappoints, this pullback could continue.
But prior to that, the market will continue to digest what Powell has shared yesterday during regular trading hours.
Honestly, to me, a “no rate cut” in March was expected. So let’s see if the market will absorb this news positively later when it opens
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OceansWave : No rate cut in Jan was expected but March was floating very clearly through the FedWatch tool before his speech..I recall 1 hour before his speech it was at least 50%… however, all these were influenced by analyst and not from Powell so when they guess wrong, the market falls… these idiots are mainly banking analyst from JPM, Citi, etc
Cow Moo-neyOP OceansWave: Probably it’s their plan to bring the market up so that they can bring it down
OceansWave Cow Moo-neyOP: The thing is this is a manipulative measure… kind of hate it but good thing is to pull back the market as most of these big tech stocks are overbought… for an extended period of time… unfortunately TSLA was just caught in btw all these… hahahha although being oversold… can’t do much because the rate cuts are really a vital factor for their business to thrive…
Cow Moo-neyOP OceansWave: Agree. Valid points there