Insider Tips - Weekly Stock Market Report - Week September 3, 2024

#cashflow #coveredcalls #options #optionstrading #stockmarket cash flow machine mark yegge passive income wealth architect wealth management

Weekly Insider Tips - September 3, 2024

This week, we're seeing a strong green market with four green lights, indicating positive momentum. The Dow is hitting new highs, while the NASDAQ is lagging a bit behind. Key stocks like Apple, NVIDIA, Tesla, Amazon, and Cava have some interesting movements worth discussing. Overall, it’s a market to watch closely, especially with upcoming events and potential stock movements.

Technical Analysis:

The market is looking strong overall with four green lights signaling a bullish trend. The Dow Jones Industrial Average has reached new highs, hovering around the 41,000 to 42,000 mark, which is a significant level indicating robust market activity. The S&P 500 is also consolidating near its all-time highs, showing stability. However, the NASDAQ is currently the weakest index, trading below its 50-day moving average, which could indicate some potential weakness. It’s crucial to watch whether the NASDAQ will drag down the broader market or if the strength of the Dow and S&P 500 will pull it back up.

Market Trends:

Despite the mixed signals from the NASDAQ, the overall market sentiment remains positive. The VIX, a measure of market volatility, is at its mean, suggesting a balanced sentiment among investors—neither overly bullish nor bearish. This could imply a period of consolidation or sideways movement in the market. However, with the general market trend being upward and the Dow and S&P 500 near highs, the broader sentiment is cautiously optimistic. There are still inflationary pressures to consider, but the market is taking these in stride for now.

Individual Stocks:

Apple (AAPL): Apple is showing strength, particularly as it approaches the release of the iPhone 16. The stock has bounced from its recent lows around 196 and is now approaching 237. If it breaks above this level, it could target 250, driven by the anticipation of new product releases and updates, such as AI integrations and a more advanced Siri.
NVIDIA (NVDA): NVIDIA has corrected slightly from its all-time high of 1,407.6 but remains in a long-term uptrend. The stock is currently near its 50-day moving average, around 119-120. If selling pressure diminishes, NVIDIA could bounce back, but gains may be moderate in the short term. Long-term, it's a solid stock to consider, especially for selling covered calls.
Tesla (TSLA): Tesla is preparing for some significant product updates, including a rumored 7-seater Model Y and advancements in their Robo-taxi and full self-driving technologies. Despite its innovations and being the top-selling car brand with the Model Y, the stock has been flat over the past few years, suggesting potential undervaluation.
Amazon (AMZN): Amazon appears to be weaker, trading below its 50-day moving average but above the 200-day moving average, indicating a mixed short-term outlook. The stock may be stagnant or "dead money" until it can break back above the 50-day moving average.
Cava Group (CAVA): Cava is an interesting stock that recently broke out above 100 on strong earnings and could fill the gap around 105. It has the potential to be a sleeper stock, much like Starbucks was in the '90s. Keeping an eye on Cava could be rewarding if it continues its quiet growth.

Key Takeaways:

The market shows strong bullish signals with major indices like the Dow and S&P 500 near or at new highs.
NASDAQ's performance is lagging, but it’s worth watching if it will align with the other indices or pull them down.
Individual stocks like Apple and NVIDIA show promising potential, while Tesla and Amazon have mixed outlooks.
Cava might be a hidden gem worth investing in if it continues its current trajectory.

Conclusion:

Overall, the market is in a bullish phase with some mixed signals from different indices. Key stocks are presenting both opportunities and cautionary signs depending on short-term and long-term strategies. As always, it’s essential to keep a close eye on market trends and adjust your portfolio accordingly. Stay tuned for next week’s updates, and keep profiting in the green market!

Current Market Condition:

This week’s stock market update shows a strong green market with four green lights, indicating bullish momentum. The Dow and S&P 500 are near or at new highs, reflecting overall market strength. While the NASDAQ is lagging slightly, the broader market trend remains positive, suggesting continued opportunities for growth.

Stock Tip of the Week:

In this latest video, I share 5 stocks that are close to breaking out right now and you can sell covered calls on them, setting up for retirement. Take a Look!

NVidia reported a few nights ago. Let's see how this trade started and how it ended after it's earnings report. (This was a trade started 8 days before earnings and closed out before earnings.) Watch it here!

Passive Income:

There is more to life than passive income. Let's dive into what is important. We also discuss a model portfolio allocation for a 59-year old. Let's go into retirement! Watch here!

Podcast this Week:

Whether you’re just starting your financial journey or looking to refine your strategy, this episode is packed with valuable insights to help you make smarter financial decisions.
Our guest is Amy Cook, the author of the Amazon bestseller *Your Money Narrative*, which explores how personal experiences shape financial behaviors and decision-making. So, let's dive in!