It’s here! Enjoy this week’s FogCutter…

November 18, 2024

Dear ,

Welcome to the FogCutter, a weekly treasure wire from Traders Edge Network. Each Monday we come into port, drop anchor and ready the sails!

The FogCutter aims to guide you through today’s perplexing market action and noise. Check out our view from the Crow’s Nest, the quick-glance “Treasure Hunting Climate” and other direct and relevant bulletins for this week..

Chart your course for the coming week with this edition of the FogCutter!

Here’s what we got on deck for you today:

💣 Super Micro Computer ($SMCI) Faces Nasdaq Delisting 😳

💣 October Retail Sales Rise, Showcasing Resilient U.S. Consumers 💳

💣 Video: What is Options Trading? (Options Trading Basics for Beginners)👨‍💻

Markets At A Glance🔎

As of November 18, 2024, 10:45 AM MST

Treasure Hunting Climate 📈

Welcome back!

We discussed in last week’s post about the market needing a breather/pause after the strong reaction to the election… and that is exactly what we saw. The market was also pricing in news that interest rates might not be coming down as quickly as originally expected.

That combination led to the markets dropping overall on the week.

It isn’t unusual to see some profit taking and a “pull back” after strong swings higher. What becomes important is sizing up the volume and the magnitude of the swing lower. We look to see if trend lines or major moving averages are failing. These factors can help us determine if the bullish trend is just taking a break or if it is starting to break down.

Looking into this week, we have earnings on tap from NVDA (Wednesday after the close) that will most likely send shockwaves through the market, especially the AI world.

We also have earnings from WMT, TGT, TJX and other retailers that could hint towards the state of consumer spending.

These factors could determine if the bullish trend resumes this week or if we see things drop further. All to say we are holding our Treasure Hunting score at the same level to ride through this week.

Happy trading!

View From The Crow’s Nest 👀

Super Micro Computer ($SMCI) Faces Nasdaq Delisting 😳

Super Micro Computer risks Nasdaq delisting by Monday if it fails to file a compliance plan.

The company is late on its 2024 year-end SEC report and hasn’t replaced its accounting firm, leaving investors without clarity.

See Full Article

October Retail Sales Rise, Showcasing Resilient U.S. Consumers 💳

October retail sales rose 0.4%, surpassing expectations of 0.3%.

September’s sales were revised up to a 0.8% increase, reflecting strong consumer resilience.

See Full Article

Mumsy’s Meme Of The Week 😂

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