Micro Ups and Macro Downs

by | Jun 2, 2023 | The Market Catch

Market Catch May 22-26

Check out highlights from the week that have got us hooked, and what else is down the line!

 

Theme of the Week – Micro Ups and Macro Downs

The spotlight this past week was split down the middle between riveting Tech chases and important Congressional and Fed news. While the micro excites on the daily, we will have to stay vigilant as Fed drama continues.

 

Trade of the Week

On Thursday of last week, Nvidia shares skyrocketed, closing up 24% and hitting a record high of $385. This tech-rally boost followed Nvidia’s quarterly earnings release, featuring numbers far greater than prior, bullish estimates.

NVDA Stock shot up 5/25

Chart of the Week

As predicted by Samantha, $QQQ escaped its wedge with a fake breakout and immediate failure, peaking at $338. Keep watch as Tech continues to ‘melt up’!

https://youtu.be/QPwrndxCpfQ

Thoughts for the Week: Tech

“These are not normal times, we are in a melt up!” – Samantha, in this week’s Melt Up Mash Up

This past week, we witnessed massive amounts of volume across many Tech-sector chases, including Tech Mega Caps ($AMZN, $NFLX) and some watchlist favorites ($PLTR, $AI). Some stocks exhibited tight squeezes, while others showed beautiful swing opportunities. Check out the Melt Up Mash Up video for more!

 

Down the Line: Debt Debates

While Memorial Day Weekend has ushered in a long-awaited break for politicians, serious debt decisions remain at the tips of their fingers. This past Sunday, May 28, President Biden and Speaker Biden reached a compromise regarding the Debt Limit Bill. Yet, Macro Advisor Craig noticed last week that both political sides remain quite hunkered down in their stances, and that most models indicate that the debt bill may not need be passed so quickly, assuming that the TGA remains afloat a little while longer. Down the line: keep watch of the Debt Limit Bill as voting commences. Learn more at Samantha and Craig’s Macro-to-Micro Power Hour linked below:

Never miss a trade

Join the action today with a LaDucTrading membership for prescient market timing calls across all assets and timeframes.
Learn more