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WE’RE ON YOUTUBE NOW! See HERE, HERE, & HERE (Yeah … I’m REALLY excited about this).

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Before you Trade Today: Know the Economic Calendar! Also See This Weeks Most Anticipated Earnings (Note: Red on the Earnings Calendar Indicates an Earnings Loss [Not Miss] Consensus), & Yesterdays Insider Buys. NEVER BE SURPRISED BY EASILY ANTICIPATED MARKET BREAKING NEWS. That’s our goal here.

StockTips is NOW on Odyssey. It’s like discord but better in my opinion

TODAY’s OBSERVATIONS: World markets are up & so too are US stock futures. Likely because the uncertainty of anything Powell had to say amid yesterday’s testimony is behind us. So the markets, having not another FORESEEABLE significant downside catalyst may rally, … but don’t be fooled as to the overall underlying conditions. Sure, we have housing data coming up today & durable goods orders on Monday, but much of that is priced into the markets in my opinion. The looming threat, as I see it, on KNOWN economic news comes Thursday next week, when personal income & personal spending are reported. Not so much on the personal income … but rather the spending I’m worried about. Nevertheless there are a number of ways to look at spending data, so it’s relatively moderate as to how we view other critical market moving news. The big market moving news comes in when the FOMC minutes are reported on July 7th together with manufacturing inflation data. I assess that the uncertainty alone surrounding this catalyst is enough to drop markets prior to the data reported. So if the market pumps next week, keep in mind the dangers of the following week. Institutions certainly will. Also keep in mind of the possibility of poor third party data from the likes of big financial institutions & their increasingly recessionary outlook for both foreign & domestic markets.

MAJOR KNOWN UPCOMING ECONOMIC CATALYSTS:

MAY NEW HOME SALES (FRIDAY): Previous was 0.591m, consensus is 0.588m. The national average mortgage rate right now is 5.81%, though rates were slightly lower for the month reported on as far as this data is concerned.

MAY DURABLE GOODS ORDERS (MONDAY): Month over Month data is expected to come in at -0.4% for May while April came in at +0.4%. Remember that durable goods are those goods expected to last for three years or so.

MAY PERSONAL INCOME/SPENDING (THURSDAY): Personal Income is forecasted (no consensus) to come in at an increase of 0.3% Month over Month with April registering 0.4%. Personal Spending is forecasted (no consensus) to come in at an increase of -0.1% Month over Month with April coming in at 0.9%.

MAY PCE PRICE INDEX (THURSDAY): Of note but not necessarily highlighted in red, the Personal Consumption Expenditure is forecasted (no consensus) to come in at an increase of 6.7% Year over Year with April registering 6.3%. Month over Month numbers are forecasted at 0.9% with April coming in at 0.2%. Personal consumption expenditures, a measure of consumer spending, support the reporting of the PCE Price Index, which measures price changes in consumer goods and services exchanged in the U.S. economy. The Fed prefers PCE data though the CPI takes all the glory in the eyes of the public.

• Stock futures rise as Wall Street looks to snap losing streak

• Hong Kong’s Hang Seng up 2% as Asia markets gain; logistics firm GoGoX falls below offer price

• European markets set to climb, capping volatile week as investors assess recession prospects 23 JUNE 2022

BUY LIST UPDATE: It’s always tough after a market dump to add either long or short plays. Be patient folks. All of the suggested short plays I posted earlier worked marvelously! But I’m hesitant to add more given the market lows. It seems to me that shorts are holding & when they cover the markets will rally.

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PAID CONTENT IN THE PAYWALL BELOW: 1 Stocks on the BUY LIST near/at/above the Buy Zone (Waiting to Swing) / 1 Options Strategy / A Detailed Breakdown of Yesterdays Earnings Beats & Misses / Most Recent Insider Buys/Sells / IPO Lockup & Quiet Period Expirations / 10 Stocks on the Price Based Assessment Watchlist / 3 Stocks on the Stocks Under $20 List (Read the Warning/Disclaimer) / 3 Stocks on the Highly Speculative Highly Volatile Small Cap List (Read the Warning/Disclaimer) / 6 Stocks on the short possibilities list.

👉CLICK HERE TO SEE THE DETAILS OF EVERY STOCK ON THE BUY LIST (AND SEE THE PRICE ASSESSMENT BASED WATCHLIST / THE STOCKS UNDER $20 LIST & THE HIGHLY SPECULATIVE LIST)

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