PPI Upsets Stock Traders! Rate Cut Delay? | Elliott Wave S&P500 VIX Technical Analysis

Rob kicked off this weeks US Market update, featuring Elliott Wave Analysis for Stock, Crypto and Options Traders, by extended birthday wishes to Chuck Norris! US stocks experienced a downturn, influenced by higher-than-expected PPI reports and lower retail sales. Speculation on rate hikes are causing fluctuations and technical analysis indicates potential market shifts, even volatility ahead. Oil prices surged, impacting consumer spending. Bitcoin stabilized around $68-72k, anticipating volatility ahead of the upcoming halving event. All this and more...
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::Timestamps ::
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00:00 - Intro
00:52 - US Market Overview
02:20 - SPY
03:51 - TNX
04:28 - US Dollar
05:10 - VIX
07:13 - DIA
07:55 - QQQ
08:49 - IWM
09:48 - USO
11:17 - Bitcoin
12:06 - COIN
14:07 - SLV
15:52 - BA
17:42 - TSLA
19:12 - TLT
20:15 - UNG
21:22 - INDA
22:58 - Tradefinder
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In the video, Rob Roy discusses the latest trends in the US stock market, featuring a selection of stocks. He humorously acknowledges comments comparing him to Chuck Norris and wishes Chuck Norris a happy 84th birthday. The focus shifts to market analysis, highlighting a recent downturn influenced by a higher-than-expected Producer Price Index (PPI) report, indicating rising wholesale prices which could squeeze corporate margins if retail prices don't adjust accordingly. This contrasts with a modest increase in the Consumer Price Index (CPI).
The market's reaction also factors in disappointing retail sales and lower-than-expected jobless claims, suggesting continued wage pressure. This has led to a reduction in the likelihood of a June rate hike by the Federal Reserve, as reflected in Fed fund futures. Roy points out a significant move in the S&P 500, which broke below its 10-day moving average, signaling potential market shifts.
He introduces the use of Elliott Wave analysis, supported by software from the Hubb organization, which is currently undergoing live testing for real-time Elliott Wave analysis. Roy underscores the importance of monitoring the market for potential directional changes, especially with the Fed's upcoming meeting and its impact on market sentiment.
In his technical analysis, Roy notes sideways movement in the Dow Jones Industrial Average (DIA) around the 390 level and a potential warning from the recent PPI report. He also examines the NASDAQ (represented by "the cues") and the Russell 2000 Index, noting patterns and movements that suggest caution among investors.
The energy sector, particularly oil, is highlighted as a current area of interest due to breakout patterns suggesting higher prices, which Roy acknowledges could be a concern for consumers, especially given his personal preference for high-consumption vehicles.
Lastly, Roy touches on Bitcoin's recent price stabilization and upcoming events that could influence its value. He concludes with a look at Coinbase, noting its slight deviation from broader market trends on the day of the video.
Throughout the episode, Roy emphasizes the importance of staying informed on market trends and upcoming economic indicators, suggesting that the market is at a pivotal point with potential for significant movements based on upcoming economic data and Federal Reserve decisions.

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I'm new at this, please how can I reach her?"

[@Anthony-qq2hd]

Next week should be interesting. Great info. Thanks. I'm loving EWO service .

[@danielchristenson6442]

Thank you for all your help You sure seem like a natural at this

[@AC-pr2si]

Great video Rob.I learn a lot every time I watch them.Thanks.

[@Morales_HM]

thanks Rob, can't believe Chuck Norris is that old. Will be interesting to hear the fed on their thoughts on the upticks in CPI and PPI.

[@PonziZombieKiller]

☠️BLACK ☠️MONDAY ☠️ it gunna be wicked 😮

[@thistooshallpass777]

Amazing stuff 🥳🎉🎉🎉🎉🎉

[@MarkWTK]

thanks rob for the weekly update ❤ volailtily is coming in for sure...

[@WetWillieBBQ]

I'm short TSLA, so I hope it breaks $160. KBTD!!!!!

[@willaerley7140]

If the overall market rolls over, look out below. It’s funny how analysts keep trying to hype Tesla even as it tanks.

[@djslaugh]

Thanks Rob! always appreciated.

[@sptrsttradr4918]

Thanks Rob! In a nutshell, it's all about liquidity. The Fed tightened and we went down but the fiscal clowns printed/loosened more and we went back up to new highs. Now the bond market is pushing back and so is inflation. We should get a retrace but probably nothing more. Elliott Wave and your analysis provides a way of profiting from all of the nonsense...LOL

[@dylan-cj1cg]

Chuck Norris can draw whatever kind of trend line he desires.

[@bannistervoid]

"When you're in Texas look behind you, cuz that's where the Ranger's gonna be". Great show Rob.

[@davidm-hd3tj]

U are amazing thank u for all your help and helping people like me thank u god bless david

[@ronaldinho95ful]

Been looking forward to watch this one, thanks Rob!

[@jefflane4264]

Great update as usual!

[@hankjohnson2805]

thank you for an excellent summary, as always ;)

[@theresa8762]

Thanks for this information!

[@jjtopp99]

Good stuff, thanks Roy!

[@willaerley7140]

The market looks toppy here. Great analysis!

[@shannonsmith112]

Thank you for sharing :)

[@r35gtrguy69]

Thanks

[@4everyoung713]

Chuck Norris hasn't done a single push up in the past 60 years. Last time he did push ups, the Earth changed inclination angle by half a degree!

[@emmanuelf9841]

Great show as always! Thanks, Rob. I'm holding some VXX. Any thoughts?

[@willaerley7140]

Personally, I only buy puts on VXX after it spikes. It has a natural decay due to contract rollover. With calls, you might get lucky if it spikes, but you’re fighting against that decay.

[@94badstang]

I might be able to afford level 3 if I win it. Thanks Rob

[@obitodd]

Copper looks like it’s moving too !

[@joeytrubnick]

SE, GPN, PYPL

[@PEOdysseus]

I hope I win the drawing!!

[@metoo1231000]

It looks like Bitcoin may be moving to a wave 4 with another decline over the weekend?

[@ramadasa77]

🤗🙏👍

[@humbertovazquez1479]

👍🙏💪💯☝️👊

[@HelloWorld-nm4jo]

Me

[@Killacam1992]

plot twist: Rob is Chuck Norris and Chuck Norris is Rob.. hes just trying to throw you off from discovering his secret.. that Chuck Norris has lived a double life as an expert stock market analyst this entire time..

[@user-ye1du9dt2s]

I'm a fan of your show for quite sometime. I Will love yo have your impulse subscripción . Thank you

[@rw0809]

Your UNG chart is not correct. It uses the numbers as is instead of the reverse-split adjusted numbers that show UNG in a massive downtrend from 2022.