Insider Tips - Weekly Stock Market Report - Week May 13, 2024

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Market Overview:

At the end of last week, the stock market showed positive momentum, with major indices like the NASDAQ, Dow Jones Industrial Average, and New York Stock Exchange trending upwards. The NASDAQ notably broke above its fifty-day moving average, which is a positive technical signal. The overall sentiment is bullish, with a streak of five consecutive days above the 50-day moving average for the Dow and positive trends on the NYSE. This signals potential strength in the market.

Technical Analysis:

Technical indicators point towards a bullish sentiment. Stocks like Apple and NVIDIA are performing well, with Apple showing positive crossovers above key moving averages (50-day and 200-day). Tesla, despite some retracement, is consolidating at lower volumes, potentially indicating a stable base. NVIDIA is solidly above its 50-day moving average, although caution is advised due to upcoming earnings.

Individual Stock Analysis:

  • Apple (AAPL): Apple is displaying positive action with crossovers above key moving averages (50-day and 200-day). The stock is showing strength after several months.

  • Tesla (TSLA): Tesla is consolidating recent gains around the $199 level, with retracement occurring on low volume, which may indicate stability.

  • NVIDIA (NVDA): NVIDIA is holding above the 50-day moving average and has upcoming earnings, which might affect short-term trading strategies.

  • Square (SQ): Square has been volatile, with recent highs around $1229 and a subsequent retracement. It's now consolidating between $700 and $1200, a typical pattern after rapid gains.

  • Amazon (AMZN): Amazon is reaching new highs, supported by a strong relative strength. The stock is showing positive momentum.

Key Takeaways:

  1. Green Market Momentum: The market is currently in a "green" phase, which historically lasts about three weeks on average. Buying opportunities are more favorable at the beginning of such phases.

  2. Technical Signals: Indices like NASDAQ and specific stocks like Apple and NVIDIA are displaying bullish technical signals, suggesting potential upside.

  3. Earnings Caution: Be cautious around stocks with upcoming earnings like NVIDIA, as these events can significantly impact short-term trading outcomes.

  4. Long-Term Perspective: Mark emphasizes the importance of patience and quality when investing. Staying with good companies can yield substantial rewards over time.

Remember, staying informed and disciplined during this market phase is key. Happy trading, and enjoy the bullish market next week! 

Stock Tip of the Week:

GameStop (GME) Back In Play (but be careful). Just a quick note to say that GME, the old meme stock that made and lost people tons of money, is back in play today as "Roaring Kitty"  is back at it. That handle is now active on X again and is moving the stock, just like it did a couple of years ago. The stock quickly ran up - minting many millionaires - and then ran down, taking much of it all away. Be careful and don't get sucked into these kinds of plays.


Breakout Stock of the Week:


In this video, Mark Yegge highlights ANET as a breakout stock opportunity. ANET, a leading player in computer networking, is positioned at its breakout point around 308-309, ideal for entry with a potential target price of 415 based on technical analysis. ANET exhibits impressive growth, with earnings soaring from $1.40 seven years ago to an anticipated $7.90 this year, reflecting substantial stock price potential. Mark emphasizes the importance of due diligence and research but sees ANET as a strong candidate for growth. For further insights, Mark invites viewers to delve deeper into this promising opportunity.


Podcast Episode this Week:

Join Mark on an insightful journey towards understanding retirement goals and securing your financial future. Mark shares valuable insights on redefining retirement on your terms, assessing your current financial health, and crafting effective savings and investment strategies. Discover how to create a compelling vision for your retirement, manage expenses, and seek professional advice to personalize your financial plan. Don't miss out on this essential guide to planning a fulfilling and financially secure retirement.


We are 2 weeks away from our next LIVE 5-week training with Mark Yegge starting on May 29th.  Included in the course, you will get: 5-weeks of LIVE online training and mentorship; full video course included(lifetime access); and membership in Private Trading Community unlimited access).  We launch this course this 3 times a year, so now is the time to get signed up and be part it!   Let's see you on the inside!