Wednesday, July 31, 2024

Buy the dip?

And all eyes on the FOMC
 
   
     
Wednesday, July 31st
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“Civilized life, you know, is based on a huge number of illusions in which we all collaborate willingly. The trouble is we forget after a while that they are illusions and we are deeply shocked when reality is torn down around us.”

- J.G. Ballard
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Markets Today
 
 
🌏 Asia-Pacific: Up
 
🇪🇺 Europe: Up

🇺🇸 United States: Up

🛢️ Oil: Up

Crypto: Up
​​​​
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Major Market Events 
 
 
Nancy Pelosi is buying the NVDA dip: She just filed a major purchase (link)
 
MSFT tumbles: Their earnings call yesterday talked a big game, but the numbers didn’t support it (link)
 
Job growth slows: ADP non-farm payrolls came in low (link)
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🤔 My Thoughts 
 
 
All eyes are on the Fed statement today concerning September rate cuts. The prospect of rate cuts in September has driven the 2024 bull market. Today’s meeting will either reinforce the market, or destroy it. Much hangs in the balance.
To Better Trading,

Alex Reid
Wealthpin
 
WealthPin
   
     
   
 

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