20-Year Pro Trader Reveals His “MoneyLine”
Ditch your indicators and use the “MoneyLine.” A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here’s how he does it.
The stock market extended its bull market rally for another week, with fresh record highs for both the S&P 500 and the tech-heavy Nasdaq 100 indices.
The tech sector – particularly the chipmaker industry, as tracked by the iShares Semiconductor ETF (NYSE:SOXX), led broader market gains, driven by strong investor optimism toward artificial intelligence growth.
Nvidia Corp.‘s (NASDAQ:NVDA) market valuation hit $3 trillion on Wednesday, briefly surpassing Apple Inc. (NASDAQ:AAPL) as the second most valuable U.S. company, before experiencing a slight pullback by the week’s end.
On the monetary policy front, the European Central Bank and the Bank of Canada both enacted a 25-basis-point rate cut, signaling the beginning of easing conditions globally and raising hopes for a similar move by the Federal Reserve.
Friday’s May jobs report revealed tighter-than-expected labor market conditions, dampening market expectations of imminent Fed rate cuts.
Market expectations no longer fully price in two Fed rate cuts by the end of the year. Investors reduced bets on a September cut, now giving it a 54% probability, compared to 70% before the jobs data.
Chart Of The Week: S&P 500, Nasdaq 100 Mark An All-Time High Weekly Close
AI Investment Confidence
Ark Invest CEO Cathie Wood maintains her bullish stance on AI investments despite selling off Nvidia stock in 2023, underscoring her long-term belief in the sector’s growth potential.
Keith Gill’s Comeback
Keith Gill, known as “Roaring Kitty,” the key figure in the GameStop “meme stock” saga, disclosed that he holds over $115.7 million worth of shares in the video game retailer.
Experts warn that Keith Gill‘s GameStop trades, exploiting SEC regulatory gaps, highlight significant market manipulation concerns and call for regulatory scrutiny.
Robinhood Buys Bitstamp
Brokerage Robinhood Markets Inc. (NASDAQ:HOOD) saw its stock surge following the acquisition of Bitstamp, highlighting investor confidence in the company’s strategic expansion into the cryptocurrency market.
Apple WWDC 2024
At the upcoming WWDC 2024 event, Apple is expected to showcase advancements in GPT AI, Siri and VisionPro’s global rollout, highlighting the company’s commitment to innovation and enhanced user experiences.
CEO-Friendly Stock Exchange
Wall Street’s largest fund managers, including BlackRock Inc. (NYSE:BK) and Citadel Securities, are reportedly planning to challenge the dominance of the New York Stock Exchange and Nasdaq by developing a new national stock exchange in Texas. The “Texas Stock Exchange” has reportedly secured $120 million in funding from individuals and large investment firms.
Image generated using artificial intelligence via Midjourney.
20-Year Pro Trader Reveals His “MoneyLine”
Ditch your indicators and use the “MoneyLine.” A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here’s how he does it.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you’ll also get Benzinga’s ultimate morning update AND a free $30 gift card and more!
:max_bytes(150000):strip_icc()/roundup-writereditor-loved-deals-tout-f5de51f85de145b2b1eb99cdb7b6cb84.jpg "I’m a Travel Writer, and Out of the 5 Million Prime Day Deals on Site, These Are the 12 I’m Shopping")
