In today’s Closing Bell video, I discuss a US-based stock that I reckon is worth your consideration.
I’m not telling you its name here because I like seeing the number of people viewing my videos going up!
So, if you want to know the name of the stock that looks like it’s turning a corner and could have a huge future, click on the video above.
I give you a detailed description of how you would plan out the trade, with stop-loss and targets worked out for you.
I also have a quick look at the S&P 500, but I think you should have a pretty clear grasp of what I’m looking for in that regard if you’ve been watching these videos regularly.
We’re waiting for a clear break one way or the other in US stocks to give us some guidance about where we’re headed next.
The China recovery story is falling flat, which is leading to weakness in European stocks and commodities. But there are noises that the Fed is probably done raising rates, which can inspire some buying.
The rally is getting quite narrow, which just means that fewer and fewer stocks are participating in the rally. That is often a precursor to some market weakness.
Interest rates have jumped markedly over the last month, but we haven’t seen a negative reaction in stock indices yet because the AI craze is holding everything up.
The bulls and the bears aren’t really fighting each other at the moment, they’re just grazing in a field waiting for something to happen.
I set out the lines in the sand above and below the S&P 500 for you in the video. Until one of them is broken, we just have to wait and watch.
Until next week,
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Murray Dawes,
Editor, Money Weekend
