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Momentum Monday: Inflation, Earnings, and Breakouts
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Want to start the week ahead of the pack? Check out Momentum Mondays, where I cover the leading breakout stocks in the market, summarize the major events of the week ahead, and prepare investors for profitable trading.
Today, we will be taking a look at the broad stock market indexes to summarize the action of the last few weeks, then we will look at the economic calendar and earnings releases to address any market moving data coming our way. And finally, I will share five compelling technical trade setups in stocks with top Zacks Ranks.
Earnings and Economic Data
Although the economic calendar is light in the first half of the week, preliminary GDP on Thursday, and PCE inflation on Friday are critical inputs for the Fed’s interest rate policy. The next Fed meeting is scheduled for next Wednesday, and while the market is not pricing in a change in rates, the statement will be widely analyzed.
With the economic growth and the labor market remaining so robust, pressure to cut rates is quickly falling. Expectations for the first rate cut at the March meeting have been slashed from 77% to just 40.5%. The first rate cut is now expected at the May meeting.
Image Source: CME Group
Earnings season begins in earnest this week with reports from Tesla (TSLA - Free Report) , Visa (V - Free Report) , J&J (JNJ - Free Report) , P&G, Netflix, Intel, T-Mobile, Verizon, Abbott, IBM, Amex and more.
Market Breakout
The broad market indexes are undeniably strong, with the S&P 500 breaking out from this sideways consolidation to new all-time highs, and the Nasdaq nearing overbought levels.
Image Source: TradingView
Technical Setups
In this week’s edition, I am sharing five trading setups that I think are among the most compelling in the market. Two are growth-oriented stocks, which should rally significantly if the market stays strong, and two are more defensive, which should outperform in the case of market weakness.
The last setup is a Bitcoin adjacent trade.
Image Source: TradingView
Bottom Line
Even the best trading setups fail, so it is always important for traders to prioritize making a trading plan, following the plan, and utilizing strict risk management protocols.
Good luck this week traders!
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Momentum Monday: Inflation, Earnings, and Breakouts
Want to start the week ahead of the pack? Check out Momentum Mondays, where I cover the leading breakout stocks in the market, summarize the major events of the week ahead, and prepare investors for profitable trading.
Today, we will be taking a look at the broad stock market indexes to summarize the action of the last few weeks, then we will look at the economic calendar and earnings releases to address any market moving data coming our way. And finally, I will share five compelling technical trade setups in stocks with top Zacks Ranks.
Earnings and Economic Data
Although the economic calendar is light in the first half of the week, preliminary GDP on Thursday, and PCE inflation on Friday are critical inputs for the Fed’s interest rate policy. The next Fed meeting is scheduled for next Wednesday, and while the market is not pricing in a change in rates, the statement will be widely analyzed.
With the economic growth and the labor market remaining so robust, pressure to cut rates is quickly falling. Expectations for the first rate cut at the March meeting have been slashed from 77% to just 40.5%. The first rate cut is now expected at the May meeting.
Image Source: CME Group
Earnings season begins in earnest this week with reports from Tesla (TSLA - Free Report) , Visa (V - Free Report) , J&J (JNJ - Free Report) , P&G, Netflix, Intel, T-Mobile, Verizon, Abbott, IBM, Amex and more.
Market Breakout
The broad market indexes are undeniably strong, with the S&P 500 breaking out from this sideways consolidation to new all-time highs, and the Nasdaq nearing overbought levels.
Image Source: TradingView
Technical Setups
In this week’s edition, I am sharing five trading setups that I think are among the most compelling in the market. Two are growth-oriented stocks, which should rally significantly if the market stays strong, and two are more defensive, which should outperform in the case of market weakness.
The last setup is a Bitcoin adjacent trade.
Image Source: TradingView
Bottom Line
Even the best trading setups fail, so it is always important for traders to prioritize making a trading plan, following the plan, and utilizing strict risk management protocols.
Good luck this week traders!