Insider Tips - Weekly Stock Market Report - Week September 23, 2024

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Weekly Insider Tips - September 23, 2024

Welcome to another look at the market for this week, September 23rd. The market is on a solid uptrend, supported by the Fed lowering rates, pushing most major indexes to all-time highs. I’ll walk you through my analysis of the NASDAQ, S&P 500, Dow Jones, and individual stocks like Tesla, Apple, and Amazon.

There are still opportunities to make money, but as always, be cautious—things can change quickly. I’ll also share a few insights on Bitcoin, especially MicroStrategy, as a way to play the crypto market.

Technical Analysis: The stock market has had a strong week, with three of the four major indexes I track hitting all-time highs.

The NASDAQ is the only exception, facing resistance at 18,017, but it seems poised to move higher once it fills its current gap.
The S&P 500, Dow Jones Industrial Average, and the New York Stock Exchange have all shown strength, with strong volume supporting these moves.
The VIX, a measure of market volatility, is below its 50-day moving average, indicating that money is flowing into the stock market. However, I did notice some weakness in the transports, which could signal future concerns, especially with reports of possible logistical strikes.

Market Trends: The Fed’s easing of rates is a major factor driving this bullish sentiment, as lower rates mean more liquidity in the market, which tends to push asset prices higher. I always recommend being in assets like stocks, Bitcoin, gold, and real estate, given the current environment. Bonds may also rise, but I’m cautious about them. In the short term, all signs point to the market going higher, but we must stay vigilant for any sudden changes.

Individual Stocks:

Tesla has had a solid week, up 16 points in just one day, and all eyes are on the upcoming RoboTaxi reveal event in October.
Apple, on the other hand, had some recent setbacks after its product launch but is showing signs of recovery. It’s heading toward its all-time high, although I’m not expecting much upside in the short term after that. Amazon bounced nicely off its 200-day moving average and is now trying to take out the 190.60 level. If it succeeds, its all-time high of 2120 could be in play.
NVIDIA, despite some seller pressure, remains a strong stock with a relative strength rating of 97.
Lastly, MicroStrategy, which has transformed into a Bitcoin play, continues to impress. CEO Michael Saylor has been strategically borrowing money at low rates to buy Bitcoin, and I believe he’s positioned to be one of the wealthiest individuals if Bitcoin performs as I expect.

Key Takeaways:

Major indexes like the S&P 500 and Dow Jones are at all-time highs, while the NASDAQ is lagging slightly but looks poised to follow.
Lower interest rates and increased liquidity are fueling this bullish market.
Individual stocks like Tesla, Apple, and Amazon are showing strength, though it’s important to watch out for volatility in stocks like NVIDIA and MicroStrategy.
The transport sector showed signs of weakness, which could be a red flag for future market movements, especially with possible logistical strikes looming.
Assets remain the key place to be—whether in stocks, real estate, or cryptocurrencies like Bitcoin.

Conclusion: In summary, this week has been a great one for the market, with many sectors showing significant gains. The Fed’s easing policies are contributing to this, pushing assets higher, and creating new opportunities. While this trend looks strong, it’s important to stay vigilant for any shifts in the market. Keep an eye on the transports and certain lagging stocks. If you want to continue receiving updates, tips, and market analysis, be sure to subscribe to my free newsletter. Let’s keep the momentum going and make some money next week!

Current Market Condition:

The market is showing strong green signals, which means it’s a prime opportunity to take advantage of the current uptrend. In line with our rule, you MUST buy or add something at the beginning of a green market. This ensures that you're positioned to capitalize on the bullish momentum, increasing your chances of maximizing gains as the market moves higher. Now’s the time to get in and ride the wave.

Stock Tip of the Week:

On August 28, I alerted you to 5 stocks that were close to breaking out. 4 of 5 stocks are higher as of 9-20-24. NOTE: These are not the exact results that you would have gotten but they are representative if you would have bought the stock and sold out of the money calls. Maybe you wouldn't have sold the META calls so far out of the money, so remove those results to be conservative and you are still above $15,000 for 23 days. The point of these videos is to educate you about covered calls and show you that if you just focus on the income from the covered calls, you can still make money in up, down, or sideways markets. You simply have to keep at it, unless the stock goes into a protracted downturn. I hope this helps you to understand the power of covered call investing for passive income. Especially for income in retirement. Watch the update here.

NVidia stock (NVDA) is set to run higher, say experts. Desc: $24,000 in income alone. This Covered Call trade is a great retirement income-generator. Watch and see a potential 1-month trade.

Even if NFLX doesn't break out with this covered call trade, you can still get some passive (ish) income.

Watch the full video here.

Bitcoin and MicroStrategy are jumping higher. Here is a covered call trade that could net $103,000 in income.

Market Watch:

The Fed just cut rates for the first time in 4 years. Are you ready? The Fed is about to announce a rate cut, the first time in 2 years. What should you do? Are you ready for what is to come? Check out what I think is going to happen here.

Podcast this Week:

In this episode of the Wealth Architect Podcast, host Mark Yegge engages in a compelling conversation with Joey Muré, co-founder of Wealth Without Wall Street, about breaking free from conventional financial norms that often lead individuals to feel trapped in a cycle of working for future gains instead of living fully in the present.

Joey shares his personal journey and the discussion challenges listeners to reconsider traditional wealth-building approaches, advocating for self-education and non-traditional financial tools like cash value life insurance as pathways to achieving lasting wealth and a legacy for future generations. Watch this episode here.