The stock market pulled back on Wednesday after trading in a tight range following news President Trump would be addressing auto tariffs. After the close, he revealed he would be imposing 25% tariffs on all cars that are not made in the United States. The Nasdaq tagged a low of 17,837 before settling at 17,899 (-2%). New support at 17,800 held. Resistance is once again at 18,000. The...
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8:00am (EST) The stock market rebounded on Friday with the slight gains keeping a tight trading range intact. More importantly, last week’s action may have been the start of a near-term bottoming process for the major indexes. The Nasdaq closed at 17,784 (+0.5%) after tagging a high of 17,798. Near-term resistance at 17,750 was recovered. Key support is at 17,500. The S&P 500 hit...
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8:00am (EST) The stock market showed strength on Wednesday to continue this week’s seesaw action following the afternoon Fed news. As expected, the central bank stayed on course for two more rate cuts this year while revising its outlook for growth and inflation. The Nasdaq traded up to 17,917 before ending at 17,750 (+1.4%). Near-term resistance at 17,750 was cleared and held. Key...
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Once you know how a stock trades historically and how it reacts to news, then you can start looking for option trades and put the probability of success on your side. Remember — it’s not whether the news is good or bad. It is only how that specific stock reacts to the news that matters. Consider your portfolio like your own company. No company likes to take losses, and they are...
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Market Summary Markets rallied Friday with the Nasdaq (+2.6%), S&P 500 (+2.1%), and Dow (+1.7%) rebounding despite weak consumer sentiment data. Friday's positive session suggests a potential bottom forming after four weeks of losses pushed indexes into correction territory. VIX Indicator: Closed below 24 Friday—bullish signal requiring follow-through toward 20 — detailed volatility...
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Shares of Rocket Companies have rebounded off a recent 52-week low near $10 after announcing better-than-expected earnings. The company reported an incredible bounce-back quarter as revenue of $1.77 billion was 54% higher than forecasts for $1.15 billion.In the previous quarter, revenue of $647 million missed expectations by 48% for a print of $1.25 billion. The profit of three cents a share...
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