Monday Takeaways: Consumer Spending Cracks Could Trigger Market Breakdown | | Shah Gilani Chief Investment Strategist | The worst sector last week is telling us something... Of the 11 major sectors, consumer discretionary performed the worst - down 2.7%. The S&P 500 was flat. But if consumers are pulling back heading into the holidays, this market faces serious headwinds. This week brings the real test: Home Depot, Walmart Thursday, and Target all report earnings. Walmart is especially critical. Are they raising prices? Eating margin hits? Their guidance could move the entire market. But it's not just consumers showing weakness: - Bitcoin down $600 billion since October
- Meme stocks down 40%
- NVIDIA earnings Wednesday (Peter Thiel and SoftBank both dumped their shares)
- S&P support levels at 6,625, 6,500, and 6,000 all at risk
I sold my NVIDIA at $203 - took profits and wasn't greedy. Right now, caution is warranted. Not the time for aggressive capital allocation. Click here or on the image below to see what I'm watching this week. Cheers, Shah Want more content like this? | | | | | |
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