👉It’s a Pullback, Not a Correction – Here’s What to Expect

Good morning. Markets are trending down, following a few strong weeks after the resolution of the...

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. Markets are trending down, following a few strong weeks after the resolution of the debt ceiling and bullish sentiment pushing AI stocks significantly higher. This looks like the start of a necessary pullback. That doesn't mean a bear market drop of 20 percent, and it likely won't even mean a correction of 10 percent. But it's likely we'll see a 5-10 percent drop simply to get the market off of its current overbought levels. That may lead to some sideways trading over the summer months, which is a historically normal seasonal trend. We'll likely see a low in the autumn, with more of a pullback if there's another banking crisis or danger. Overall, now's the time to take profits, particularly on any tech trade. And look to grab income off of your long positions with trades like covered call writing. And for those looking to buy on the pullback, put together a list of stocks to buy and a price you're willing to pay now, to best take advantage of this market pullback. Now here's the rest of the news: Sponsored Content The NASDAQ Stock You Need To Be Watching! Trader, there is a little-known NASDAQ stock that is currently flying under the radar but has the potential for explosive gains. Insiders are keeping a close eye on this stock, waiting for the right moment to strike. What's the stock, and when is the perfect time? There's only one way to predict market moves days in advance with up to 87.4% accuracy. And it may not be what you think… LEARN THE SIMPLE SOLUTION FOR IDENTIFYING NASDAQ GEMS (FOR FREE!) >> MARKETS DOW 33,951.52 -0.30% S&P 4,365.69 -0.52% NASDAQ 13,502.20 -1.21% *As of market close • Stocks closed lower again on Wednesday, as the Fed pointed to more rate hikes ahead. • Oil rallied 2 percent, closing at $72.64 per barrel. • Gold dipped 0.2 percent, ending at $1,945 per ounce. • Cryptocurrencies continued higher, with bitcoin at $30,119 at the stock market close. Today's TOP TIPS Keep Investing with the Strategy that Moves Stock Prices Higher There are many ways for a company to deliver value to shareholders. Once a company reaches a certain size, growth becomes more difficult without coming up with new and potentially expensive initiatives. That's why many large companies start paying a dividend. Companies have another trick up their sleeve too. That trick is the share buyback program. As long as a company isn't using debt to retire shares, it can have a great long-term impact on prices. » FULL STORY Insider Activity Report: Avista Corp (AVA) Scott Kinney, a vice president at Avista Corp (AVA), recently bought 1,250 shares. The buy increased his holdings by 21 percent, and came to a total cost just under $50,400. This marks the first insider buy since September 2021, when a director made a small purchase of shares. Otherwise, company insiders have generally been sellers of shares on a steady basis over the past two years. » FULL STORY Unusual Options Activity: Marathon Digital Holdings (MARA) Cryptocurrency miner Marathon Digital Holdings (MARA) has performed well in the past year, with a 38 percent move higher. One trader sees a continued move higher in the coming months. That's based on the December $12 calls. With 175 days until expiration, 7,471 contracts traded compared to a prior open interest of 138, for a 54-fold rise in volume on the trade. The buyer of the calls paid $4.00 to make the bullish bet. » FULL STORY IN OTHER NEWS • Powell Warns Inflation Fight Far from Over In testimony before Congress on Wednesday, Federal Reserve Chairman Jerome Powell warned that the fight against inflation was far from over. Powell noted that all Fed members see the need for a further rate hike this year to continue to bring down inflation, which is still more than twice the Fed's target level. • UK Inflation Holds Steady Inflation in the United Kingdom came in at 8.7 percent in May, the second month in a row. The lack of a drop in inflation will likely cause the Bank of England to continue raising interest rates, which now stand at nearly their highest level in two decades. Core inflation in the UK hit a 31-year high of 7.1 percent. • Dropbox Starts Venture Fund Filesharing company Dropbox (DBX) is starting a $50 million venture fund. Dubbed Dropbox Ventures, the fund will largely invest in startups in the AI space, with a focus on companies shaping the future of work. The move is similar to other companies investing in startups, such as the $500 million commitment from Salesforce (CRM). • FTC Sues Amazon Over Prime Cancellation Process The Federal Trade Commission has sued tech giant Amazon (AMZN). The agency cites the company's cancellation process for its Prime service as the reason, which is being alleged as intentionally complicated. The FTC has been investigating the Prime sign-up and cancellation process since March 2021. • Financial Giants Propose Bitcoin ETFs Several major asset managers have filed to create exchange traded funds (ETFs) focused specifically on investing in bitcoin. That includes BlackRock (BLK). Over the past few years, dozens of applications have been submitted, but have been rejected. If such ETFs are approved, there could be sizeable buying demand for bitcoin and other cryptocurrencies as these products launch. S&P 500 MOVERS TOP DLTR 4.292% CTVA 3.537% FMC 3.201% GNRC 3.189% BKR 2.852% BOTTOM INTC 5.457% AMD 5.062% TSLA 4.385% ZM 4.294% MTCH 3.418% Quote of the Day With the S&P 500 and Nasdaq marching higher and breaking through key resistance levels, and underpinned by stronger volume and broader participation, markets reached short-term overbought levels on Friday. 'Triple witching' options expiration on Friday added to volatility, but the sell-off on Friday wasn't overly dramatic, leaving markets to digest their gains, and wait for another powerful catalyst. - Quincy Krosby, chief global strategist for LPL Financial, on why the market may pause from here until more economic data gives a clearer picture for markets in the coming months. Sponsored Content Stock Watchlist Now Available [Live] 👀 If you want better trades and better information, join us, live, and check out our stock watchlist in a free class today. If you're wondering which stocks are about to explode and how to forecast market movements in stocks, ETFs, crypto, forex, and futures, then you are not going to want to miss this. No replays. No gimmicks. Just A.I. Prepare for today's Market Close and Tomorrow's Market Open by clicking the link below to join. SHOW ME THE FREE A.I. STOCK WATCH LIST NOW >> 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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