Ahoy there Trader! ⚓️
It’s Phil…
Stocks made a slight upward movement yesterday as investors gear up for mega-cap earnings in the coming days. Yet, the SPX remains stuck in a trading range, while Nasdaq is on the verge of a new all-time high!
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Investors are holding their breath as mega-cap earnings are on the horizon. But let’s be honest, we’re still mired in the muck of the SPX trading range.
- The Situation: SPX is like a cat stuck in a tree, unwilling to come down while Nasdaq struts confidently towards an all-time high.
- Current Strategy: My stance remains firm: continue looking for range plays while we wait for that elusive breakout.
- Market Outlook: Until something changes, we’re navigating the same old waters, hoping for a more dynamic move soon.
Patience continues to be key in this game, folks!
Fun Fact
Did you know that the first stock exchange was established in Amsterdam in 1602? It was set up to trade shares of the Dutch East India Company!
The Amsterdam Stock Exchange is considered the world’s first stock exchange. It allowed investors to buy and sell shares in a company and facilitated the trading of bonds and commodities as well. This revolutionary concept of publicly traded companies has evolved into today’s global stock market, making it a crucial part of the financial world. The legacy of this first exchange is still felt in modern trading practices!
Happy trading,
Phil
Less Brain More Gain
…and may your trades be smoother than a cashmere codpiece