7/15/2024 CBAS Weekly Newsletter

Market News:

• Mixed performance among the major indexes

  • The Nasdaq rose 0.3% while the S&P 500 and the Dow fell 0.1%

• The July 11 Unemployment Claims Report was 222k, much lower than expectations of 236k.

  • (^7/11/24 unemployement numbers. Credits: Forex Factory 1st column: Actual reported numbers; 2nd column: Forecasted; 3rd column: Previous report)

  • FYI: Higher unemployment rate = slower economy = declining markets

• The Cboe Volatility Index fell and is down 35% from its high on April 15

  • Suggests that the market expects stable conditions and minimal price fluctuations

• Anticipation of potential interest rate reductions after Powell's testimony before Congress

• Failed Trump assassination attempt - look for a slight rally in markets because of what it means for the presidential race

  • Trump had a pro-crypto platform, causing a rally in bitcoin markets early Monday morning

• Fear and greed as of 7/15/24: Greed

Watchlist*:

QS (Stock Analysis), TSM (Earnings 7/18), TSLA (Earnings 7/23)

Long term watchlist*:

QS - Battery company specializing in long-range lithium-ion car batteries. Amazing growth recently, expected to continue as it has made a deal with car giant VW's PowerCo. Be sure to utilize risk management since this is a penny stock. See blog post for stock analysis of QS for 7/15/2024.

TSM - Watch for pullbacks, possible positions for a medium-long term investment. Lots of positive sentiment on TSM as it approaches a $1 trillion market cap and plays an important part in NVDA's growth. See blog post for stock analysis of TSM for 7/8/2024.