ABSResearch

ABSResearch

Verint Systems reported revenues this quarter amounting to a whopping $210.17 million. If you like keeping score, this is a negligible decrease of 0.1% year over year. Their earnings per share (EPS) was $0.49, a tad more than the $0.48 EPS they reported a year ago. Just a heads up though, the boys and girls at Wall Street were estimating this quarter’s revenue...

ABSResearch

Many of you probably don’t know, but I trade S&P 500 Futures, so I always watch the market. A few people ask me what is happening with S&P 500, so I thought I would pass on a few notes. As of writing this email, the stock market is showing mixed performance today, with the S&P 500 and Nasdaq Composite down while the Dow Jones Industrial Average is slightly...

ABSResearch

The Micro E-mini S&P 500 Index Futures (MESU2024) have exhibited a strong bullish trend within a well-defined upward price channel. The past week saw notable price movements and trading signals, providing both opportunities and challenges for investors. Key Observations Price Channels: Upper Resistance Line: Approximately 5,580 Lower Support Line: Approximately...

ABSResearch

Looks like a bullish setup before the Fed. That being said, I think it could go either way.

ABSResearch

ES did a classic dive from slightly below the POC to VAL, jumped up to the VAH, and now dropped back to POC.

ABSResearch

It looks like AT&T is about to break support. Debt and old business ideas may be holding it back. Locally we just got high-speed fiber from T, so maybe it will turn around.

ABSResearch

It looks like the bitcoin bear trend is breaking..

ABSResearch

It looks like the strong Dollar trend may be breaking.

ABSResearch

Looking like the bull run is losing steam. I had thought it would go a bit more, but it is turning bullish.

ABSResearch

Apple (one of my favorite stocks) appears to be bearish but going sideways. It is above S1 at 1237 and RSI weak. I would personally wait till after the holiday sales report to buy, but very promising.

ABSResearch

Google continues the bearish trend and is breaking through all the supports.

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It appears that there is definitely a short-term bull rally, but it could easily die fast. In order for the bear trend to reverse, I think we will need to see the S&P 500 break R1

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I have been watching Bitcoin for a couple of months now and tend to think it has met the support of around $20k. However, I think it could crash more if the stock market drops.

ABSResearch Updated 

The S&P revisited its 200-day MA in the second half (2H) of the year in 21 out the 35 years in which the S&P did not close below its 200-day MA during the first half of the year. In other words, statistically there is a 60% chance that the S&P will catch down to its 200DMA (SPX 3,863) which at last check is about 17% lower than the spot price in the index, which...

ABSResearch

Quick note: Looks like the bearish trend for the S&P 500 is continuing. I don't think we will see any price consolidation or support until the market touches the 50MA.

ABSResearch

Today's chaotic open has reshaped into another leg lower. Nasdaq is currently experiencing its worst year-to-year start in at least 30+ years. It is slightly worse than 2008, and the longest losing streak for a weekly since Sept 2020. Importantly, the S&P 500 recently broke below its 200DMA and key support! The bears are definitely in charge.

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I think bitcoin may have reached enough resistance at S1 (roughly 40K) and is now consolidating. Many have speculated as to the reason for the sell-off, but it seems to me that is "normal" for crypto due to the fast and sudden rise. Investors should be ready for much larger drops compared to equities.

ABSResearch

Investors are watching the 10YR yield rocket up, but what does this mean: (1) Rising Inflation, and (2) Fed likely to increase rates. More importantly, this means a movement away from from growth and towards value. Technology, which is led for the last decade, is likely to see a major dip because they will not have access to "cheap money"