😦Markets Bounce, But Technical Indicators Show the Damage Is Done😦

Good morning. It's hard to pinpoint an exact bottom when the market is...

It's the monthly jobs numbers today and they're not going to be pretty and will be possibly the tip of the iceberg as we head into May.

Good morning. It's hard to pinpoint an exact bottom when the market is declining. Big rally days like Tuesday can be the start of a recovery, or a pause before the next drop lower. Technical indicators can help point out what's likely to happen next. Following Monday's drop, a number of indices had broken under short-term trend lines. While that's usually a bad sign, the move higher Tuesday undid some of the damage. More importantly, the longer-term trend line held on the tech-heavy Invesco QQQ Trust (QQQ) right at the 10 percent pullback level. Holding that trend is a sign that the worst may be over for now. But given the number of market dangers in the next few weeks, it'll still be a bumpy ride with no guarantee of a quick move higher. Now here's the rest of the news: Sponsored Content To feed 10 billion people by 2050, the world will need to increase food production by up to 70%. Learn how Future Acres is addressing this need and invest before 10/8. Future Acres believes there's no better way to increase and improve the yield from agricultural industries than with robots. Their first robot, Carry, is designed to transport crops more efficiently—and is estimated to increase farm efficiency by 30%. Such a boost to output means Carry can pay for itself in only 80 days, and provide farmers with up to $13,500 in efficiency gain per Carry per season. In fact, Future Acres recently secured $150M+ in commercial collaborations with Sun World International and Grown Rogue. Invest in Future Acres before the opportunity ends 10/8. MARKETS DOW 34,315.99 +0.92% S&P 4,345.70 +1.05% NASDAQ 14,433.83 +1.25% *As of market close • Stocks reversed higher on Tuesday, with the Dow and S&P recovering most of Monday's drop. • Oil rose 2.0 percent, closing at $79.18 per barrel. • Gold declined 0.4 percent, last going for $1,761 per ounce. • Cryptocurrencies rose, with Bitcoin at $51,291 at the stock market close. Today's TOP TIPS Combining Two Top Tech Trends Can Lead to Bigger Profits Investors are already aware of the top trends likely to produce trillions of dollars in wealth over the next decade. With markets having a classic autumn selloff from overpriced levels, some companies are looking ahead to that future. The best way to grow for many firms right now is to acquire smaller and faster-growing companies, particularly when those firms provide access to a new market for existing products. » FULL STORY Insider Trading Report: Compass Diversified Holdings (CODI) Sarah McCoy, an executive at Compass Diversified Holdings (COI), recently picked up 3,164 shares. The buy increased her stake by nearly 15 percent, and came to a total cost of just over $89,000. This follows on a number of other insider buys over the past two months from a number of company insiders. On the sell side, only a major holder of shares has been selling shares over the past year. » FULL STORY Unusual Options Activity: Merck & Co (MRK) Shares of pharmaceutical giant Merck (MRK) recently jumped higher on news of a Covid drug that could substantially reduce hospitalizations. One trader sees the trend continuing. That's based on the November $100 calls. With 44 days on the trade, over 9,850 contracts traded against a prior open interest of 249, for a 40-fold rise in volume. The buyer of the calls paid $0.29 to make the trade. » FULL STORY IN OTHER NEWS • Yellen Warns of Recession Without Debt Ceiling Raise Treasury Secretary Janet Yellen has warned that the US could fall into a recession if the US debt ceiling isn't raised. The US government would not be able to pay all its bills without a debt ceiling increase starting at some point later in the month. That could lead to a default on the debt, credit downgrades, and other measures in addition to a cutback in government spending. • SEC Outlines Regulatory Agenda SEC Chairman Gary Gensler has outlined tougher rules for market participants such as high-speed trading firms, private equity firms, and online brokerages. The rules would be designed to make it easier for companies to raise capital and for ordinary investors to save for retirement. • GM Builds New Battery Center General Motors (GM) is building a new facility in Michigan to work on improved battery technology that could improve the range of batteries as well as drive down the cost. The 300,000 square foot facility is under construction and expected to be completed next year. Denser energy batteries could improve the range of electric cars currently in production as well as future models. • Google Could Lose Android Dominance European Union regulators have fined Google (GOOG) over its dominant use of the Android platform to the tune of $5.1 billion. Google is appealing the fine and an order that requires how it licenses Android. A failure to overturn the ruling could change Android's dominance in a number of gadgets, and open up tech for other operating systems. • Microsoft Unveils Windows 11 Microsoft (MSFT) has rolled out Windows 11, the first major update for the software platform in six years. The program will first be available as a free download to existing users who meet certain hardware and PC age requirements. Customers will be notified of their eligibility into mid-2022. S&P 500 MOVERS TOP ABMD 6.398% NFLX  5.882% IVZ 5.581% AOS 4.267% CE  4.208% BOTTOM VTR 3.766% HBI 3.156% PENN 2.966% EQIX 2.909% CZR 2.51% Quote of the Day We do not believe the recent bout of de-risking will lead to sustained falls, and maintain the stance to keep buying into any weakness. - A Marko Kolanovic, JPMorgan's chief global markets strategist, on why the market's recent volatility likely isn't a sign of a further drop, and that markets will likely recover into the end of the year. Sponsored Content To feed 10 billion people by 2050, the world will need to increase food production by up to 70%. Learn how Future Acres is addressing this need and invest before 10/8. Future Acres believes there's no better way to increase and improve the yield from agricultural industries than with robots. Their first robot, Carry, is designed to transport crops more efficiently—and is estimated to increase farm efficiency by 30%. Such a boost to output means Carry can pay for itself in only 80 days, and provide farmers with up to $13,500 in efficiency gain per Carry per season. In fact, Future Acres recently secured $150M+ in commercial collaborations with Sun World International and Grown Rogue. Invest in Future Acres before the opportunity ends 10/8. Not sure the best way to get started? Follow these simple steps to hit the ground running. › Step #1 - Get These FREE Reports: Warren Buffett's Top 5 Stocks | 10 Great Stocks Under $10 | 7 High Yield Dividend Stocks › Step #2 - Join Our Premium Advisory: The Next Superstock › Step #3 - Claim Your Free Copy Of: Big Book Of Chart Patterns | How to Trade Weekly Options For Weekly Income We just wanted to take a moment and say thank you so much for being part of our family! We are dedicated to teaching people how to make the world a better place so we can all thrive, together. 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