Market Overview
Stocks and bonds rally in response to lower inflation: Stocks finished higher on Wednesday in response to a lower-than-expected consumer price index (CPI) reading for May and the Fed’s decision to leave its policy rate unchanged at 5.25% – 5.50%. The S&P 500 gained 0.9%, while the Nasdaq rose by 1.5%.* From a sector standpoint, technology was the best-performing sector of the S&P 500, rising by 2.5%, and is now higher by nearly 14% over the past month.* Growth-sensitive small-cap stocks also performed well, with the Russell 2000 rising by over 1%, reflecting the risk-on preference from markets today. Bond yields finished the day lower, with the 10-year Treasury yield shedding 0.07 percentage points to 4.33%, while the 2-year Treasury yield declined 0.06 percentage points to 4.77%.* Overseas, Asian markets were mostly lower overnight, while European markets finished higher following the lower-than-expected U.S. inflation reading. Aapl Stock price continue to rise. But we believe it is over extended.
Market Indexes and Winners
Good Stock Set Ups
STOCK SETUP: VNM @06/12/2024
| Ticker | VNM, VanEck Vietnam ETF | Note |
| Last Price | 12.95 | |
| Buy | 12.95 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 14.25 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 12.4 | |
| Reward/Risk | 2.34 : 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for VNM @06/12/2024
| ATR (14) | 0.15 | Stop can be set at 1xATR below recent low |
| Beta | 1.12 | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 56.36 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 1.34% | Distance to SMA20 |
| SMA50 | 1.91% | Distance to SMA50 |
| Recommendation | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. VNM is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).
STOCK SETUP: ON @06/12/2024
| Ticker | ON, ON Semiconductor Corp. | Note |
| Last Price | 76.22 | |
| Buy | 76.22 | Limit Order This is generated by our mechanical trading system. Please read the chart section for more detailed and flexible entry options. |
| Target | 83.84 | Default at 10%, Or Sell when close below ma5(short term)/10(midterm)/20(long term) or when big down day or when formed inverted hammer at a resistance level |
| Stop | 72.5 | |
| Reward/Risk | 2.05 : 1 |
Above is the summary of one of our Stocks Buy Setup.
More Technical Status for ON @06/12/2024
| ATR (14) | 2.54 | Stop can be set at 1xATR below recent low |
| Beta | 1.71 | Beta measure of a stock’s volatility in relation to SP500. Greater than 1.0 means more risky than SP500 |
| RSI(14) | 59.65 | Greater than 50 means bullish. Crossing above 30 in correction is a good buydip too |
| SMA20 | 4.21% | Distance to SMA20 |
| SMA50 | 8.73% | Distance to SMA50 |
| Recommendation | 1.88 | Analysts’ mean recommendation (1=Buy 5=Sell) |
Our system generated several buy signals today. ON is one of them. Let’s take a look at this stock’s chart (The first chart below is a live chart).
Trend line break. It could go to $85 level.