Consumer Confidence Tumbles

(a bad time usually follows)

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MAY 1, 2024       TUCCI’S TWO CENTS Consumer Confidence Reaches New Low The Consumer Confidence Index (CCI) is a gauge of American consumers’ feelings towards the current state of affairs in the business and labor market here in the US. In short, it’s a survey of the attitudes of US consumers, their spending plans, expectations for inflation, and where they think stock prices and interest rates are heading. Consumer confidence fell for a third month in a row, reaching levels not seen since July of 2022. Which is odd because July was actually the best month of the year.   But fast forward 60 days and the markets were tumbling… — Nate Tucci ≈ ≈ ≈ ≈ ≈ ≈ May Market SHOCKWAVE! ≈ ≈ ≈ ≈ ≈ ≈  It’s a huge day — in a huge week — for markets… Because today Jerome Powell stepped up to the mic today to reveal the most anticipated interest rate announcement! No change! What does it mean for markets!? Plus earnings are in full swing and it’s been a mixed bag so far… Don’t get caught off guard! Click here to register your spot for Tom’s May Market preview! GUY COHEN’S TRADE RADAR A Choppy Earnings is Most Likely   We’re in the thick of earnings, and as I started my review this week ahead was all looking a bit sketchy … until I progressed onto my post earnings and Shrinking Retracements filters.   Directionally, we’re still looking a bit ambiguous right now, but there are a few decent individual setups that we can look into more closely.   As I mentioned a couple of weeks ago, my expectation is that this market pullback will NOT turn into a capitulation.  I suggested 5-8% from the peak, and we’ve already hit that range. As I also mentioned, the IWM was likely to have the steepest pullback, and it is, having retraced about 10% from the peak — while the QQQ took a 9% hit and the SPY and DIA around 6%. The indices are by no means out of the woods yet, so much will now depend on how earnings plays out.   Click here to watch now! Follow the money, — Guy Cohen

MAY 1, 2024 TUCCI’S TWO CENTS Consumer Confidence Reaches New Low The Consumer Confidence Index (CCI) is a gauge of American consumers’ feelings towards the current state of affairs in the business and labor market here in the US.   In short, it’s a survey of the attitudes of US consumers, their spending plans, expectations for inflation, and where they think stock prices and interest rates are heading.   Consumer confidence fell for a third month in a row, reaching levels not seen since July of 2022. Which is odd because July was actually the best month of the year.   But fast forward 60 days and the markets were tumbling… — Nate Tucci ≈ ≈ ≈ ≈ ≈ ≈ May Market SHOCKWAVE! ≈ ≈ ≈ ≈ ≈ ≈    It’s a huge day — in a huge week — for markets…   Because today Jerome Powell stepped up to the mic today to reveal the most anticipated interest rate announcement! No change! What does it mean for markets!?   Plus earnings are in full swing and it’s been a mixed bag so far… Don’t get caught off guard!   Click here to register your spot for Tom’s May Market preview! GUY COHEN’S TRADE RADAR A Choppy Earnings is Most Likely   We’re in the thick of earnings, and as I started my review this week ahead was all looking a bit sketchy … until I progressed onto my post earnings and Shrinking Retracements filters.     Directionally, we’re still looking a bit ambiguous right now, but there are a few decent individual setups that we can look into more closely.     As I mentioned a couple of weeks ago, my expectation is that this market pullback will NOT turn into a capitulation.  I suggested 5-8% from the peak, and we’ve already hit that range.   As I also mentioned, the IWM was likely to have the steepest pullback, and it is, having retraced about 10% from the peak — while the QQQ took a 9% hit and the SPY and DIA around 6%.   The indices are by no means out of the woods yet, so much will now depend on how earnings plays out.   Click here to watch now! Follow the money,   — Guy Cohen

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ABOUT US:  We believe that the opportunity for financial literacy and freedom belongs to all people, not just those who already have years of investing experience. Prosperity Pub provides an array of educational services and products that will help you navigate the markets and become a better investor. Trading is made simple through our online forum full of trading techniques to give you the best tools to kick-start your investing journey. We offer collaborative webinars and training; we love to teach. No matter the opportunity, we bring together a strong community of like-minded traders to focus on analyzing market news as it’s presented each day. DISCLAIMER: FOR INFORMATION PURPOSES ONLY. The materials presented from Prosperity Pub are for your informational purposes only. Neither Prosperity Pub nor its employees offer investment, legal or tax advice of any kind, and the analysis displayed with various tools does not constitute investment, legal or tax advice and should not be interpreted as such. Using the data and analysis contained in the materials for reasons other than the informational purposes intended is at the user’s own risk. DISCLAIMER: TRADE AT YOUR OWN RISK; TRADING INVOLVES RISK OF LOSS; SEEK PROFESSIONAL ADVICE. Prosperity Pub is not responsible for any losses that may occur from transactions effected based upon information or analysis contained in the presented. To the extent that you make use of the concepts with the presentation material, you are solely responsible for the applicable trading or investment decision. Trading activity, including options transactions, can involve the risk of loss, so use caution when entering any option transaction. You trade at your own risk, and it is recommended you consult with a financial advisor for investment, legal or tax advice relating to options transactions.  Please visit https://prosperitypub.com/terms-conditions/ for our full Terms and Conditions.   Unsubscribe This email was sent to reunisoft.cryptonews@blogger.com by Prosperity Pub 101 Marketside Ave, Suite 404 PMB 318, Ponte Vedra, Florida 32081, United States Prosperity Pub