It is never wrong if hard work pays off with results. Be it while you are studying or when you are at your job. Study hard and get good results. Work hard and get a promotion!
In recent weeks, I had started my exercise regime again. When I say again means I must have stopped for some time right? Very normal. If you have been following our newsletter, you will recall that I started to exercise daily in March last year and I think that lasted around 3 months! It's not easy to be consistent but after a long lapse, here we go again, hopefully this time round I can become consistent!
Over the weekend, I cycled uphill around my neighborhood and I was literally crawling uphill a five year old kid can walk faster than me! That was real torture but surprisingly, my legs did not hurt the next day. Probably it was also the result of several weeks of walk up the neighborhood reservoir. As said, hard work gives results and that came in a smaller belly and also stringer legs...woohooo.... ok, lets keep up the momentum and hope this time round it does not die down....
If you are also in need of work in any areas of your life,
"Just do it"....results will follow so don't worry....
SPX
SPX has yet broken both 8th & 14 March lows closing the week at 4131. It keeps closing the week at the week's low range. The question is whether there is sight of a bounce up???
We would likely know after the Federal Reserve rate announcement on 5 May next week. Until then, expect the market to be volatile and possibly breaching Feb 24th's low of 4114 which is just some points away.
SPX has so far dropped around 14.3% almost 700 points from the highs in January 2022.
Trading for week to be around 4000 to 4250 range.
NDX
NDX is at its butt now, lowest for the year, closing at 12854 on Friday, down 601 points (4.5%) in a day! It's a disaster for Nasdaq with Amazon missing earnings and down 14% last reached this was in June 2021. There's a lot of stocks which has already dropped lower than March 2020 Covid crash....TDOC is 67% below March 2020 bottom, LMND down 88% from all time high, now sitting at $20, PTON down 90% from its high to $17.
All fad and no profits is getting hammered big time and fundamentally strong stocks with profits just get hammered less from its high averaging 20-30% like, MSFT, 20% down from highs, AAPL 14% down from highs, GOOGL 24% down from highs, AMZN, 34% down from highs. It's much safer to bang on strong and safe stocks which have a higher chance of a recovery than the fad techs!
With the markets sell off to continue until Fed Funding Rate announcement on 5 May, cheap can become cheaper.
Trading range for the week is between 12300 to 13300, a whopping 1000 points range. Nothing unusual when a day we can see a 600 points move down right?
TRADERS TALK
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Listen to Traders Talk Series 44 if you have not done so. View Past Traders Talk here.
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