Weekly Market outlook 10/20/2024
Earnings and Spendings
Hello traders,
Hope you had a great weekend,
Last week was a quiet week in the markets with the usual rangebound movements with one red day due to ASML 0.00%↑ ‘s leaked earnings report. And then as per the maxim “nothing ever happens” TSM had a great report causing the market to shrug off the fears and closed higher on Friday.
And same day Tuesday, we were able to catch the bottom but I got shaken out of it, part of the game.
Rest of the week was mostly rangebound action so we were taking 40-50 NQ points as they were offered to us.
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Moving on,
This week is light in terms of economic data but we do have Tesla reporting their earnings this week alongwith Boeing and Lam Research.
We expect the markets to do more of the same unless something drastic happens.
In other news, bitcoin has been rearing its head up again and assigning some exposure to crypto miners like MARA 0.00%↑ (MARA) is not a bad idea.
Levels for the week:
Subscribers are urged to use the tradingview indicator to plot the levels.