#47/2023: Nasdaq Hits 91 On RSI14 – Precipice Of Heaven Or Descent Into Hell? Trading Tips With Jim Stromberg podcast

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#47/2023: Nasdaq Hits 91 on RSI14 – Precipice of Heaven or Descent into Hell?

1y ago 26:04

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Innehåll tillhandahållet av Jim Stromberg. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Jim Stromberg eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

The Nasdaq index shows signs of being overbought, with its RSI14 (Relative Strength Index) topping a historically high of 91, indicating that investors are anticipating further upward movements. Significant market activity is expected despite the shortened trading week due to Thanksgiving on Thursday. Notably, Nvidia is slated to announce its quarterly results this week, which could further influence the trajectory of the market's top performers, often referred to as the 'magnificent 7.'

In the commodities sector, oil prices show resilience, gradually climbing from $75. The upcoming OPEC+ meeting will likely contribute to this trend, especially if oil production cuts continue. Given the current market dynamics, investors might contemplate whether oil could be a more stable investment option, particularly if the Nasdaq undergoes a natural correction before experiencing further increases."

… continue reading

233 episoder

#Trading #Business #Jim Stromberg

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#47/2023: Nasdaq Hits 91 on RSI14 – Precipice of Heaven or Descent into Hell?

Trading Tips With Jim Stromberg

14 subscribers

published 1y ago

Dela

MP3•Episod hem

Innehåll tillhandahållet av Jim Stromberg. Allt poddinnehåll inklusive avsnitt, grafik och podcastbeskrivningar laddas upp och tillhandahålls direkt av Jim Stromberg eller deras podcastplattformspartner. Om du tror att någon använder ditt upphovsrättsskyddade verk utan din tillåtelse kan du följa processen som beskrivs här https://sv.player.fm/legal.

The Nasdaq index shows signs of being overbought, with its RSI14 (Relative Strength Index) topping a historically high of 91, indicating that investors are anticipating further upward movements. Significant market activity is expected despite the shortened trading week due to Thanksgiving on Thursday. Notably, Nvidia is slated to announce its quarterly results this week, which could further influence the trajectory of the market's top performers, often referred to as the 'magnificent 7.'

In the commodities sector, oil prices show resilience, gradually climbing from $75. The upcoming OPEC+ meeting will likely contribute to this trend, especially if oil production cuts continue. Given the current market dynamics, investors might contemplate whether oil could be a more stable investment option, particularly if the Nasdaq undergoes a natural correction before experiencing further increases."

… continue reading

233 episoder

#Trading #Business #Jim Stromberg

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