Hello traders everywhere. For most of the year, the tech sector was the belle of the ball and the one sector that was driving the stock market to record highs. But this dance may be coming to an end as we enter the fall earnings season. The S&P 500 is poised to enter into correction territory joining the NASDAQ after earnings reports from Alphabet and Amazon fell short of expectations. Amazon (AMZN) tumbled over 8% after it missed quarterly sales estimates and gave a below-par holiday-season sales forecast, that sparked a 3% plunge in the S&P consumer discretionary sector. Alphabet (GOOG) sank 4% after its revenue missed estimates, refreshing concerns that regulatory scrutiny and competition could slow down its scorching pace of growth. It's been quite a week for the major indexes with wild swings higher and lower, but at the end of the week, all three indexes are going to post deep losses and resuming the current downturn after a brief respite last week. The S&P 500 will post a weekly loss of -3.5%, the DOW -2.5% and not to be forgotten the NASDAQ will post a weekly loss of -3.2%. The U.S. Dollar and gold continue to thrive in this tumultuous environment posting gains of .68% and .93% respectively. On the flip side, crude oil and Bitcoin will both post weekly losses of -2.4% and -.12%. Bitcoin is essentially trapped in a tight range while oil is taking heavy losses and succumbing to the pressure of trade wars, weakening emerging markets, currencies, and the strengthening U.S. dollar. Key Levels To Watch Next Week: S&P 500 (CME:SP500): 2,877.53 Dow (INDEX:DJI): 24,077.56 NASDAQ (NASDAQ:COMP): 7,799.75 Gold (NYMEX:GC.Z18.E): 1,228.30 Crude Oil (NYMEX:CL.Z18.E): 67.80 U.S. Dollar (NYBOT:DX.Z18.E): 94.47 Bitcoin (CME:BRTI): 6,640.10
MarketClub/INO, a division of TIFIN Group LLC, is affiliated with Magnifi via common ownership. Affiliates of Magnifi will receive cash compensation for referrals of clients who open accounts with Magnifi. Due to this compensation, a conflict of interest exists since MarketClub/INO has an incentive to recommend Magnifi LLC.
Magnifi LLC does not charge advisory fees or transaction fees for non-managed accounts. Clients who elect to have Magnifi LLC manage all or a portion of their account will be charged an advisory fee. Please see Magnifi’s Form ADV for additional information about fees and charges that may apply. Magnifi LLC receives compensation from product sponsors related to recommendations. Other fees and charges may apply.
Magnifi, normally $14 per month, will be available at no additional cost to MarketClub members. Account holders must be 18 years of age and have an approved Magnifi account. Magnifi will determine qualifying account holders at its own discretion.
U.S. Government Required Disclaimer—Commodity Futures Trading Commission
Futures and Options trading has large potential rewards, but also large
potential risk. You must be aware of the risks and be willing to accept
them in order to invest in the futures and options markets. Don't trade
with money you can't afford to lose. This is neither a solicitation nor
an offer to Buy/Sell futures or options. No representation is being
made that any account will or is likely to achieve profits or losses
similar to those discussed on this web site. The past performance of
any trading system or methodology is not necessarily indicative of
future results.
CFTC RULE 4.41—HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
All trades, patterns, charts, systems, etc., discussed in this advertisement and the product materials are for illustrative purposes only and not to be construed as specific advisory recommendations. All ideas and material presented are entirely those of the author and do not necessarily reflect those of the publisher or INO.com. No system or methodology has ever been developed that can guarantee profits or ensure freedom from losses. No representation or implication is being made that using the MarketClub™ methodology or system will generate profits or ensure freedom from losses. The testimonials and examples used herein are exceptional results, which do not apply to the average member, and are not intended to represent or guarantee that anyone will achieve the same or similar results. Each individual's success depends on his or her background, dedication, desire, and motivation.
You are now leaving a Magnifi Communities’ website and are going to a website that is not operated by Magnifi Communities. This website is operated by Magnifi LLC, an SEC registered investment adviser affiliated with Magnifi Communities.
Magnifi Communities does not endorse this website, its sponsor, or any of the policies, activities, products, or services offered on the site. We are not responsible for the content or availability of linked site.