The Economy Is Slowing - Are You In The Right Stocks?

07.05.24: Mary Ellen McGonagle, MEM Edge Report, shares what drove price action this week and what may change the markets going forward. Precise sell strategies in a shifting market were also highlighted.

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00:00 - Welcome!
00:53 - Jobs Growth, Jobless Claims, Powell Testimony
02:05 - S&P 500 ($SPX)
02:40 - Sectors: Discretionary (XLY), Technology (XLK)
04:00 - Industrials (XLI), Materials (XLB)
05:26 - Nasdaq ($COMPQ), Software (IGV), Semis (SOXX)
06:59 - Regional Banks (KRE), Russell 2000 (IWM), 10-Year Yield ($TNX)
08:25 - Mag 7: Tesla (TSLA), Microsoft (MSFT), Netflix (NFLX)
10:32 - Nvidia (NVDA)
11:25 - Strength in S&P 500 Stocks
13:22 - Exit Strategy Example: WW Grainger (GWW)
16:26 - Confirming Buy Points: Abercrombie & Fitch (ANF)
17:49 - Economic Data Hits Homebuilders (XHB)
18:33 - Have a great week!

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❗️DISCLAIMER
Past performance is not indicative of future results. Neither the Show Participants
Strategies or investments discussed may fluctuate in price or value.

Investments or strategies mentioned in this show may not be suitable for you and
you should make your own independent decision regarding them. This material
does not take into account your particular investment objectives, financial situation
or needs and is not intended as recommendations appropriate for you.

You should strongly consider seeking advice from your own investment advisor

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ℹ️ ABOUT STOCKCHARTS TV
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🤑 Get the Full Scoop With a Trial Offer of Mary Ellen's Weekly MEM Edge Report Here:
👀 See what better financial charting can do for you!
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[wread]

Markets go up in July because Markets always recover after the May tax drain by July and then it always goes back down on the next tax drain on mid September then we recover and rally into November. The Santa clause rally usually blocks out the December 15th tax drain, there’s always a smaller tax drain feb 15th that can cause a dip but doesn’t always

[andregallant]

Many thanks. I love your clear presentations.

[joserivera]

Great markets reports. I will subscribe for sure to your newsletee.

[aingle]

Some of these small caps have to get bought up. Could see a good drop but not a complete sell-off. Too much momentum… hate to be aboard the next big drop though…

[Superflow]

Awesome videos 👍

That amdl and Tesla woke up that’s for sure.

[pmks]

Since the uptrend is so narrow does that negate what we’re getting from the $vix?

[Nah-kh]

Buy the dip until it doesn’t work… keep it simple … it’s a bull market

[pmks]

I wish navigating trend changes was as easy as trend following. I don’t like giving back my obscene profits.

[michaelschupp]

Thank you for your excellent analysis, Mary Ellen - today though, the charts were not in focus which makes it a little bit more difficult to follow your explanations.

[mahendrajasubhojani]

How often do you have the presentation- it is very good

[JoeC]

all stock charts doesnt look nice. Its very close to right side AXIS. can you pl them to the left and keep some space on the right?

[gsk]

tsa was downgraded by cnbc expers n ter r saying tsla do not have much to rise? have a good one

[Superflow]

On that Tesla chart
we also Broke out of that mega long descending wedge on the weakly chart
I felt added to the bullish perspective.

[tanleproe]

The unemployment rate is 4.1%. If I remember correctly, it was 6% when economic troubles are real