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Market Insights

Bringing you the trading news around the world.

Fed Suggests a Pause as AI Sweeps the Nasdaq: Market Trends This Week

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Downloads available here and here. Anchored VWAP and Keltner pullback here.

Register for Market Trends here.

Sizing Up the S&P 500

  • S&P 500 sitting between 200-day and 50-day MAs
  • MACD inching higher
  • Weak U.S. dollar, lower yields are potentially positive for growth stocks
  • VIX above/below 20 could be a potential signal for S&P 500

Key Economic News

  • February existing home sales beat estimates, biggest gain since July 2020
  • Crude oil inventories unexpectedly rise
  • FOMC hikes 25bp as expected, forecasts one more hike this year.
    • Futures show 50-75bp of expected hikes have disappeared in the last month.
S&P 500, daily chart, with selected technical patterns.

Company News

  • Tesla (TSLA) upgraded to investment grade by Moody’s. Reports suggest strong sales in Europe and China.
    • Q1 deliveries due in early April.
  • Nvidia (NVDA) gains as GTC conference highlights artificial intelligence (AI)
    • BofA raises price target from $275 to $310
    • Bernstein sees accelerated-computing power opportunity in data centers.
    • Barclays: NVDA is “king of generative AI,” which is the “biggest secular tailwind in Tech.”
  • Meta Platforms (META): KeyBanc upgrades to overweight amid cost cuts, stable advertising.
  • GameStop (GME) jumps after cost cuts drive surprise profit.
  • FedEx (FDX) price target raises by Argus, Bernstein after cost cuts boost profits..
  • Amazon.com (AMZN) tests $100 after cutting 9,000 jobs.
  • Krispy Kreme (DNUT) gaining on streak of positive news:
    • Earnings beat on price hikes (2/15)
    • McDonald’s (MCD) widens donut collaboration (2/27)
    • Truist raises to Buy on volume growth potential (3/22)

Cost-cuts pay off: META, GME, FDX, AMZN

Leaders & Laggards

  • Safe havens fall: REITs, utilities, consumer staples
  • Gold miners rally as U.S. dollar weakens
  • Growth continues to outperform: Software, semiconductors, Big Tech

Signals Scan

  • Apple (AAPL): “Golden cross”
  • Adobe (ADBE): “Golden cross”
  • Exact Sciences (EXAS) holds 50-day MA
  • Tesla (TSLA): nearing potential MACD crossover
  • McDonald’s (MCD) in tight channel above 200-day MA
  • Ford Motor (F): potential bearish triangle forming sine August

Mover of the Week: Carvana

Carvana (CVNA) rallies on debt restructuring offer.

  • Would term out $1 billion of notes at a discount, replacing with more flexible securities.
  • Potential beneficiary of Fed pausing rate hikes.
  • Short interest around 70% of float may fuel buying.

Upcoming Events

  • Friday (3/24): Durable goods orders, Bullard speech
  • Tuesday (3/28): Consumer confidence
    • Micron Technology (MU) earnings in post market
  • Friday (3/31): PCE inflation

Using the Platform

Platform tool of the week: Strategy back testing with multiple data inputs.

Security futures are not suitable for all investors. To obtain a copy of the security futures risk disclosure statement Investment and Trading Disclosures Booklet – Futures.

Exchange Traded Funds (“ETFs”) are subject to management fees and other expenses. Before making investment decisions, investors should carefully read information found in the prospectus or summary prospectus, if available, including investment objectives, risks, charges, and expenses. Click here to find the prospectus.

Options trading is not suitable for all investors. Your TradeStation Securities’ account application to trade options will be considered and approved or disapproved based on all relevant factors, including your trading experience. See Characteristics and Risks of Standardized.

About the author

David Russell
David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.

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