Published: Sep 10, 2024
Duration: 00:09:35
Category: People & Blogs
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what's up guys it's rayj back with another video and in this one I want to break down what's happening with Neo Tesla spy infid theq and a couple of other tickers breaks down is happening with the overall Market moving forward as we had big data that just came out not to mention new developments on the charts I just notes that I am not a financial planner so make sure you take nothing I say is financial advice and also if you guys can please check out the mumu link you deposit $100 you guaranteed five free stocks you deposited 1,000 bucks you're guaranteed 15 in total not to mention 8.1% apy on uninvested cash anyways as far as Neo goes as of right now we are still making higher highs and higher lows and we have this resistance to watch for at this 5.65 area now if we break this we could be pushing all the way up towards the next resistance taking us closer to $6 if we don't break this we could be looking for a move back down now whether or not we get that move depends on some data so I want to talk about that first so what happened today for the markets just notes that we had the CPI data report coming out everything was aligned with expectations from core being at 3.2% year-over-year and 0.3 % month per month and then for all items CPI month per month was at 0.2% align with expectations and all items CPI here over here so relative to last year we're at 2.5% that is below expectations once again not bad whatsoever that's why the market saw some interesting price action we actually pumped a little bit in the pre-market then we saw a big dump only to see that become a liquidity grab before they pumped us to new highs from the last couple of days so that's what ended up happening into the markets we ended up turning bullish ultimately and the Bulls had the bigger Edge now tomorrow is going to be Thursday September 12 2024 please notes that one hour before the Market opens it's very important to note that we have the PPI d report coming out we have PPI month over month core PPI month over month as well not to mention initial jobless claims before the market ends up opening and then uh core PPI year-over-year uh ppi is going to be very important for understanding wholesale inflation this is what tends to dictate CPI we have very very low expectations for it so you know considering the fact that cor has been a little bit hot I'm not as confident about this being decent but we'll see uh these data uh uh reports have been quite good so far everything's expected to be the same as what we got from before except for uh PPI year-over-year that's expected to come down a little bit so I'm anticipating that it's going to be very similar and very close to expectations from that end but we'll see if PPI year-over year is below expectations besides that there's not really much else that's coming out at least for the markets just PPI then some Bill auctions for tomorrow for cpia there's a big downtrend right now that's being reported I know that uh the data is not as accurate as one may think we can't always just say CPI is right so the best thing for us to do is just to be very unbiased and then to know that whatever happens is we have to just accept the data and Report based off this because that's what the market accepts in terms of sentiment the market is more fearful uh as you guys can see momentum is now we're a little bit more fearful we're getting closer to neutral though but we're still in fear so that gives the market M for upside momentum is at neutral kind of stuck in the middle boots and call option ratio went up to extreme fear that's as the market is starting to squeeze this might start coming down as shorts get Clos to pump the markets higher the vix is testing the 50 daily moving average we'll see if he lose the support around this uh basically in the 17 area so we'll see how that goes earnings we have GameStop announcing earnings just a few more retail nothing too crazy for the rest of the week and then for Neo I just want to say that there's been a lot of talk about Neo is working on their power swap stations driving Europe's transition by integrating mobility and green energy so we're going to be talking about this their energy storage and things like that and there's going to be a very very important discussion about this so get ready for all of this can't wait to see what else they say as they expand across Europe as excuse me as far as their sales go Neil had about 4500 at least for uh the first week of September Tesla did 16,200 with byd at 73600 but this is just Chinese EV registrations in total uh remember this is just for China uh Tesla has more sales globally but this is some big news uh Neo is down just a little bit but it's not that bad this is just for week 36 typically during this period when we start a new month we do start off kind of weak before we see stronger sales later on but we're going to be watching to see how things end up developing um for Neo it's still okay even though we did 4500 for that first week of September right we we tend to see stronger numbers towards the end of the month so they will catch up later on JP Morgan Chase is saying it's time to buy Neo they're giving giving Neo an over weight rating and then City Group also gave them a buy rating where Bank of America Securities is neutral you have 50 million in volume that's a little bit below average and the short volume is still going down that's a good sign for Neo so what do I see for Neo honestly guys we have a tough resistance to watch for at this 5.6 area if Neo managed to break this Zone we could be pushing higher for closer to about 5.8 than $6 if we reject on 5.6 we could be dipping back down towards 5.33 so we'll see what the move ends up being but overall we're just stuck within this range so I'll be watching this very very carefully if we lose 5.26 we're looking for a dip back down towards this imbalance and if we break past 5.62 we could be looking for 5.86 overall the technicals look a little bit more bullish when you look at the bigger time frames such as the daily chart uh but we're testing a tough resistance at 5.6 and whether or not we break that depends on the reaction we get after PPI and if Neo could break this resistance so look for 5.6 to be tested tomorrow we look more bullish but we need to break that for confirmation if we do break that we're going to remain more bullish the technicals do look more bullish but just for confirmation we have to wait and see now today was a crazy day for spy we saw spy basically pump a little bit then dump really hard only to continue to pump so going into tomorrow we do look a little bit more bullish if we could try to break past 5.56 we're looking for 5.58 and 560 to fill our imbalance above and if we end up losing 553 we're looking for a de back down to 550 from technical standpoints the daily on spies is looking a little bit more bullish when we're favoring the upside into the higher 550s so we'll see if that ends up being the case or not so watch for that very carefully uh on top of this we have es looking a little bit more bullish if we break the resistance up here we have this resistance around 5567 if that breaks we're looking for 5580 and eventually the 5600 area if we end up losing 5537 we're going to be dipping back down to 5500 but this favor upside from a technical standpoint we'll see if uh the PPI report helps or not for NVIDIA we went up to about this 115 era if we continue to hold Above This our next to be all the way up to about this almost 120 area maybe a little below that if we lose 115 we're looking for 11 14.6 that FS we going down to 112 this looks a little bit more bullish on The Daily so it favors upside a bit more we will see if the PPI report helps or not we Bitcoin we're trying to rebound we're looking at resistance around this 58,000 a if we break that we're looking for 59,2 if we don't break this we could be looking back down for 55,000 but this looks more bullish at least technically speaking for others out there such as Tesla Tesla's looking more bullish got a nice bounce it dipped a little bit all the way down to about 217 only to rebound and we're continuing to push it for the last couple of days to me it looks like Tesla might be trying to fill this IM balance if we break past 228s tomorrow we're looking for 230 then 232 all over again if you reject we're going to be coming back down to 222 technically speaking we look more bullish especially with PPI coming out so Tesla's looking pretty darn good for others out there we have NQ looking bullish if we break past 19,250 we're going to be looking for 19,500 for QQQ if we managed to hold above 466 we're looking for a big pump for 474 so it still looks more bullish to me uh so if we break 468 we're looking for 474 we look very very bullish right now Apple's doing a good job if we break past 222.000 we're looking for 223.50 there could be a big push coming to 210 then eventually 212 if you lose 28 we're going to be dipping back down to 206 but this looks more bullish in my personal opinion for uh coinbase we look more bullish if uh we're going to continue to push um we're going to be looking for a nice pump for this 158 area if that breaks we're looking for 162 uh if we end up losing uh 153 we're going to be dipping back down so this looks a little bit more bullish and we could be pushing for 163 for Amazon we're trying to pump right now we did a good job at breaking past 182.5 so as long as we hold above 182.5 I think we could continue to go up towards 187 we'll look at 185 that breaks looking from 187.5 then eventually 190 so we'll see if that ends up working meta looks a little bit more bullish we break past 512 we're looking for a big push for 520 if you lose 506 we going to be DIY back down but this looks more bullish to me for 520 Microsoft looks more bullish as we're trying to break out right here we could be looking for basically 425 and eventually 430 if we end up losing 420 we could be dipping back down with a still favor upside and then Google has 153 as our resistance if we break that I think 155 is coming so those are my technical updates for the market the Market's looking very bullish we look like we look like we really want to keep pushing but it depends on the PPI reports of course and for Neo we could push with the mark but we have to break past 5.6 we have a tough resistance at our 200 EMA on the daily if we break that I think we're going to be going closer to $6 so watch and see if we could break 5.6 or not if not we could retrace to about 5.4 for now I see potential in new so we'll see how it goes that being said I appreciate you guys so much for listening have a great day I'll see you guys very soon for another update tomorrow get ready for PPI before the Market opens tomorrow and peace out