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March 10th Weekly Recap
Happy Sunday fellow investors. This week was a wild one so lets dive right in…
MARKET RECAP
Volatile week keeps the market churning
The SPY had a volatile week but ultimately finished right where it started, holding on above the 8 EMA (orange line above) to continue its incredible bull run.
Tech got absolutely crushed on Tuesday bringing the rest of the market down with it. Just when it looked like we were going to break trend and enter a period of weakness, the markets surged again to all time highs on the backs of NVDA which continues to soar.
Friday was quite an interesting day, markets opened up super hot fresh off Februarys jobs report before getting dragged down, with NVDA leading the way. NVDA dropped about 10% over a 30 minute span, which is absolutely insane considering it nearly overtook Apple as the second most valuable company in the world.
TREND WATCH
Google Looks to Reclaim Short-Term Momentum
This week I am keeping my eye on Google, who nearly broke its 200 MA (blue line) but rejected off it and avoided a complete breakdown. After two strong sessions on Thursday and Friday it is close to retaking the 8 EMA and rebuild some upward momentum.
Google has had a tough go around since its embarrassing pre-mature drop of its AI Chatbot Gemini. I am going to keep my eye on this and see if google is able to stay above the 200 MA.
IN THE NEWS
💰Target crushes earnings and announces that its launching Target Circle 360 to compete with rivals Amazon (Amazon Prime) and Walmart (Walmart +).
🚗 Rivian announces its new R2 SUV sending its stock higher.
📊 US economy adds 275,000 jobs in February.
UPCOMING WEEK
All eyes will be pointed towards the inflation report Tuesday. Which remains at the top of the Feds priority list.