Rocket Equities & Options Report 05-20-24
Markets have started the week trading higher as we await important earnings from NVDA on Wednesday.
WE had some Fed speak this morning with the usual rhetoric out there that we may need to keep rates higher for longer, and that we may be in a higher range for the longer term resembling the 90's and 2000's much more so than the recent low rates that we all became accustomed to.
Disney is lower and continues to struggle, and is now below it's trend we will watch this equity and could dump it if things do not improve.
I have weekly charts this week, and if you look at things you will see that the ES is getting toppy on weak volume. NVDA earnings will be important as the market looks to the future.
Stay tuned for updates!
Long DIS at $102.25. The stop is $88.97. DIS is trading at $103.03.
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