FOMC And Jerome Powell On Wednesday! Get Prepared For The Upcoming Week With Markets With Mando!
Portfolio Pulse from Mando Trading
The article discusses the upcoming FOMC meeting and its potential impact on the market. It also provides an analysis of several stocks including SPY, AAPL, TSLA, GOOGL, AMZN, NVDA, AMD, and MSFT. The author suggests that the market is not expected to move significantly until the FOMC meeting on Wednesday. The dollar is expected to continue its upward trend. The author also provides specific price levels for each stock that could indicate a bullish or bearish trend.
September 18, 2023 | 1:45 pm
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NEGATIVE IMPACT
AMD had a textbook move with swing low taken out, retracement into discount bearish imbalance, and rejection and meltdown. Large range sets the stage for big bounces.
The author suggests that AMD had a textbook bearish move and could potentially bounce back due to the large range. This is based on the stock's recent price action.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
MSFT swept swing low on Friday after a huge meltdown. Large range here, with 50% of the range being at 334.50.
The author suggests that MSFT had a huge meltdown and swept the swing low. The 50% range at 334.50 could be a key level to watch. This is based on the stock's recent price action.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NVDA took a beating last week, down quite a bit from highs from a few weeks ago. The author is not interested in NVDA at this time.
The author suggests that NVDA is not attractive at this time due to its significant drop from recent highs. This is based on the stock's recent price action.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
TSLA swept swing high and dumped hard on Friday. A move above the most recent swing high would be bullish for TSLA, but until then market structure remains bearish.
The author suggests that TSLA remains bearish unless it can move above the most recent swing high. This is based on the stock's recent price action.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
AAPL has relative equal highs at 177.49 and lows at 173.55. The author is not interested in AAPL until one of those levels are taken out.
The author suggests that a break of either the high at 177.49 or the low at 173.55 could indicate a potential trend for AAPL. This is based on the author's analysis of the stock's price action.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
SPY has yet to take out swing low liquidity at 442.64. If the range is set here, a bounce is expected to start the week.
The author suggests that if SPY does not break the swing low liquidity at 442.64, it could bounce back. This is based on the author's analysis of the stock's price action.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
AMZN faded on Friday, but market structure remains bullish. Bears don't take over unless swing low at 138.50 is taken out.
The author suggests that AMZN remains bullish unless the swing low at 138.50 is taken out. This is based on the stock's recent price action.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
GOOGL held up well on Friday. Market structure remains bullish until swing low at 136.24 is swept.
The author suggests that GOOGL remains bullish unless the swing low at 136.24 is swept. This is based on the stock's recent price action.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80