Market News

A leading indicator for housing market activity—pending home sales—unexpectedly jumped in May and reversed six straight months of declines, according to new data from the National Association of Realtors on Monday, though experts warn that higher mortgage rates will continue to weigh on demand.

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The current bear market is “light relative to many seen since 1946,” analysts say.

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NASDAQ stock (NASDAQ: NDAQ) has lost roughly 27% YTD as compared to the 20% drop in the S&P500 index over the same period. The daily chart is ranging near the lower border of Ichimoku cloud to be ready for the bearish condition to be resumed or the ranging bullish reversal to be started with resistance level at 160 to be a key for that.

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After a 27% fall year-to-date, at the current levels, we believe Walgreens stock (NYSE: WBA) can see higher levels. The weekly price is located below 200 SMA in the bearish area of the chart by trying to be bounced from 37.85 and 36.98 support levels to above for the bear market rally to be started with resistance levet at 44.27 as the possible target to re-enter.

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Investors are hoping new leadership can help turnaround the business and reverse recent stock struggles.
The intra-day price was bounced from 4.45 support level to above for the bear market rally to be started with 5.95 possible target to re-enter.

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Paycom Software Inc. (NYSE: PAYC) stock price jumped more than 2.5x from $122 in 2018 end, to around $326 currently, primarily due to favorable changes in its revenues.

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Netflix reported mixed results that weren’t as bad as some investors had feared. The daily price is breaking 199 resistance level to above for the possible daily bullish reversal.

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On July 18, IBM was the latest big tech company to succumb to the value-destroying effects of a strong dollar: the daily and weekly price broke Ichimoku cloud to below for the primary bearish reversal.

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Walmart expects profits to take a hit as inflation weighs on consumer spending.

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The company mentioned in its first-quarter earnings call that global leisure travel trends have continued to improve in the second quarter, even with the current macroeconomic uncertainties, and that it is looking forward to a busy summer travel season ahead.
The daily price is breaking the bullish triangle pattern with resistance level at 1,972 to above for the primary daily bullish reversal to be started.

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