Good MorningWhat began as a mild pull-back in prices Thursday morning gained momentum throughout the day to shave more than 5.0% off the broad market. Thursday’s action is the worst day the market has seen in nearly three months and may be an indication of more losses to come. The move was sparked by fear the economic reopening will be marred by rising COVID counts that could lead to another shutdown.
While Thursday’s action is bearish, investors are warned not to read too much into the sell-off. This week is triple-witching options expiration which is enough by itself to have caused the selling. On a technical basis, the S&P 500 was able to hold the 30-day moving average which often acts as a near-term support level. The risk now is that support won’t hold, if not the S&P 500 could slip to 2,800 or lower over the next few weeks. Featured: America's richest man orders 100,000 units of game-changing new technology (Empire Financial Research) 
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Markets | | | There's no doubt that a serious bite got taken out of Apple (NASDAQ: AAPL) yesterday, and that bite came after some equally serious growth over about a two-day span before the air came rushing out of the stock price Read the Full Story |
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Shares of FuelCell Energy (NASDAQ:FCEL) stock are moving higher yet again. At the opening of trading on June 12, FCEL stock is up over 25%. The catalyst is an earnings report in which the alternative fuel provider beat on both the top and bottom lines. The stock is now making a run at its 52-week ... Read the Full Story |
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Markets | | | The Comps Don’t Reflect Business Trends
To say that Lululemon (LULU) has been one of the better-performing stocks post-pandemic is an understatement. The shares recovered 100% of their correction by mid-Month in May and have since extended the rally another 25%. Now, trading near its very-rec... Read the Full Story |
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With the NASDAQ trading at all-time highs and tech companies roaring higher seemingly on a daily basis, you might be thinking that there isn’t a lot of value to be found in the tech sector. Many investors aren’t too keen on buying a stock when it is at all-time highs, but there are alw... Read the Full Story |
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Markets | | | Blackberry Limited (NYSE: BB) shares have been doubled since its COVID-19 pandemic low of $2.70 on Mar. 18, 2020. This is far cry from the lofty heights of $150 price levels under the former name Research in Motion seen in 2008, but the company has undergone a full “below the radar” tran... Read the Full Story |
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