Image Source: Tonight I made the changes to the EW labeling reflecting the Minor ‘a’ wave still in progress and the count reflecting a “nesting” 1,2,1,2 formation. I discuss the implications and what to expect moving forward. Wednesday’s trade remained somewhat inside the box that has formed within trade from the low on December 20th and the high on December 26th. My thoughts are that the market will break out of the box to the downside as Minor ‘a’ continues.Video Length: 00:20:35NQ Elliott Wave Daily UpdateNasdaq 100 & S&P 500 Elliott Wave Update – Tuesday, Jan 7Weekly Technical Update: S&P 500 & Nasdaq 100

Image Source: For the trading week ended January 3, 2025 my proprietary Canadian Cannabis Company Index (MCCCI) increased by 4.5% compared to the prior week when it was unchanged. The index consists of 14 stocks, many of which are among the most widely held holdings of the 3 ETFs (, , and ) that I consider to be a reliable barometer of the Canadian cannabis sector. MCCCI’s differentiated business model is both weighted and market capitalization-based because I believe that this approach best represents the current landscape of the Canadian cannabis sector. Now let us look at this week’s good, bad, and ugly stocks, shall we?The GoodThere were no stocks that increased by more than 10%, which is my metric for inclusion in this category.The BadThere were no stocks that decreased by more than 10% (but less than 20%) which is my metric for inclusion in this category.The UglyThere were no stocks that decreased by 20% or more, which is my metric for inclusion in this category.Valuation Metric ReviewThere was a 3.9% increase in the “Big 4” (all of which increased) compared to the prior week when there was no change. The stock-price-based metric increased by 1.2% compared to the prior week when it was unchanged.RecapThere was a 20.0% increase in the relative strength index compared to the prior week when there was an 8.7% increase. 8 of the 14 MCCCI stocks increased. Auxly Cannabis Group () continues to be an outlier, as it demonstrated price stability in 2024. Based on […]

Image Source: The Zacks Research Daily presents the best research output of our analyst team. Today’s Research Daily features new research reports on 16 major stocks, including Amazon.com, Inc. (), The Procter & Gamble Co. (), and Sony Group Corp. (), as well as a micro-cap stock The Monarch Cement Co. (). The Zacks microcap research is unique as our research content on these small and under-the-radar companies is the only research of its type in the country.These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.Amazon.com’s shares have outperformed the Zacks Internet – Commerce industry over the past year (+47.6% vs. +43.8%). The company is gaining on solid Prime momentum owing to ultrafast delivery services and a strong content portfolio. Strengthening relationships with third-party sellers is a positive. The growing adoption of the AWS services portfolio is aiding AMZN’s cloud dominance. The robust advertising business is also contributing well. Amazon’s strong global presence remains a key growth driver. A deepening focus on generative AI is a major plus. Also, improving Alexa skills along with robust smart home products offerings are tailwinds. Growing capabilities in grocery, pharmacy, healthcare, and autonomous driving are other positives. The company issued positive Q4 2024 guidance fueling investor enthusiasm. The Zacks analyst expects 2024 net sales to increase 10.7% from 2023. However, macroeconomic challenges remain, and rising transportation and fulfillment center costs are concerns.Shares of Procter & Gamble have outperformed the Zacks Consumer Products – Staples industry over the past year (+8.1% vs. +5.4%). […]

Image Source:  Sideways ranges everywhere tonight!  And that’s good news for us, because ranges are the easiest markets to trade…And if we’re lucky, we’ll get Fakeout Breakouts on both sides of this range going into Non-Farm Payrolls on Friday!Markets are closed tomorrow in honor of Jimmy Carter’s passing…But that won’t stop us from getting ready for these Fakeout Breakout trades later in the week! E-Mini S&P (ES):   Emini is bearish into a range, telling us to buy low, sell high, and trade the rotation until we see a breakout! E-Mini Nasdaq (NQ):   Nasdaq is bearish into a range, telling us to look for ways to sell bull traps above the highs tomorrow morning! Video Length: 00:28:52This 2-Leg Pullback Could Make Us A Fortune Tomorrow This Double-Top Reversal Could Be A Huge Pay DayThe Breakout Pullback Could Make Our Entire Week

Image Source: In this video, Ira Epstein reviews the activity in the Financial Markets after the day that just ended, Wednesday, January 8.Video Length: 00:11:58SPDR ETF Report For Tuesday, Jan 7 Financial Markets Report For Tuesday, Jan 7Metal Markets Report For Monday, Jan 6

Image Source: The S&P 500 finished the day essentially flat, up 16 basis points—little changed overall. The key focus remains at the 5870 level, which was tested again today. We’ve discussed this level multiple times, as it is essential. It could set up a more significant decline if it were to be pierced—possibly through a gap lower, say, on Friday morning. Such a move might form an island reversal top, completing the head-and-shoulders pattern we’ve been tracking for weeks.When equity markets reopen Friday morning, we’ll also get the much-anticipated jobs report. Today’s market action likely reflects some squaring up ahead of that news. This was evident in the one-day index, which rose 4 points to 18.25.Once the event risk passes, implied volatility tends to decline sharply, causing put values to drop. This triggers market makers to adjust their hedges, often resulting in market rebounds, regardless of the news. However, this effect is typically short-lived, with markets normalizing soon after.Options activity for the January 10 S&P 500 expiration showed significant volume in puts at 5790, 5800, and 5850 levels. There was also call activity at 6000, 5950, and 6150, but most activity centered around puts, indicating a focus on downside protection. When implied volatility declines post-event, the puts lose value, potentially driving markets higher due to the hedging dynamics.(BLOOMBERG)Rates are moving interestingly in global markets, particularly in the UK and Japan. The UK 30-year rate rose nearly 13 basis points today to 5.37%, breaking out of an ascending triangle. The 10-year UK yield […]