"Tension in the Oval!"

Hi There! It's truly touching that the 30th publication of the Rhoda Report coincides with Memorial Day, a day that honours the brave souls who made the ultimate sacrifice to secure our freedom. On this day, let us remember the fallen and their loved ones. To those who have served, we express our heartfelt gratitude and respect. And to those, like my daughter, who are currently serving, we extend our sincere appreciation and unwavering support.

Alright, let's dig in!

Last week was another seesaw of emotions! Investors who were optimistic about a potential end to the debt ceiling dispute may have to put their celebrations on hold. The latest Personal Consumption Expenditures (PCE) index revealed the obvious - inflation rates are still high. This means that the Federal Reserve may have to keep interest rates elevated for an extended period. As a result, stock values could potentially hit a ceiling. Despite this, the stock market saw some notable performances last week, with Nvidia (NVDA) taking the lead by gaining an impressive 24.6% and reaching a market cap of $961 billion. AMD also showcased its strength and trending conditions through notable share gains, closing the week out at $127.40 per share.

The price of oil finished the week at $72.85 per barrel. If the oil price manages to fill the most recent liquidity gap and opens above $73.30, it is likely to rally and hit strong resistance levels at $73.51 and $73.73.

The crypto market saw some excitement as Bitcoin (BTC) reached a key level of $28,547.90. There is hope for an increase if the price opens above $29,679.10.

Other key highlights from last week:

• Hong Kong welcomes retail traders in the crypto space

• Bitcoin Ordinals have been the talk of the industry

• Gods Unchained will launch a mobile game on both Apple and Android

• Polygon’s Co-Founders’ humble beginnings inspire many

Watch the following closely in the week ahead:

Keep an eye out for key U.S. economic reports including CB Consumer Confidence, JOLTS Job Openings, Beige Book release (see Issue #24 for a breakdown), Initial Jobless Claims, ISM Manufacturing PMI, Non-Farm Payrolls, and Unemployment Rate.

Fed Policymakers who are scheduled to speak during the week include Richmond Fed President Barkin, Philadelphia Fed President Harker, and Federal Reserve Governors Bowman and Jefferson.

This week's earnings releases are shown in the chart below. Most notable companies are outlined in red.

The upcoming high-impact global news to watch includes Consumer Price Index (CPI) Releases for Australia and the Euro Area, and China manufacturing and non-manufacturing Purchasing Managers Indexes (PMIs).

Next week's anticipated bias (not financial or investment advice):

• Monday (05/29/23) - Stock Market close; day trade crypto

• Tuesday (05/30/23) - Day traders buy the dip

• Wednesday (05/31/23) - Trade volume in the afternoon

• Thursday (06/01/23) - Bullish

• Friday (06/02/23) - Expect crypto to end green

Trading Tip: Sunday at midnight happens to be the best time to buy Bitcoin!

Week 05/21/23 - 05/27/23 Recap

Special Tools and Strategies

If you're an investor or trader with a focus on US markets, FinViz's stock market portal can be a valuable resource. This comprehensive toolbox offers a range of features, including stock screeners, news feeds, portfolio management, heatmaps, stock charts, and more.

With leading financial research, analysis, and visualization capabilities, Finviz provides users with a powerful platform to help them make informed investment decisions.

FinViz is an ideal platform for various types of investors.

• It caters to those who prefer a comprehensive visualization of the whole stock market on a single portal.

• Beginners can benefit from its news stream, charts, and extensive list of thousands of stocks, making it an excellent stock screening tool that is easy to use.

• It is also suitable for swing traders and long-term investors who do not necessarily require real-time data.

One of the many methods we utilize the FinViz Stock Screener for, is to identify potential trending stocks. Here are the filters:

• Go to the Screener

• Click and the Technical Tab and select the following:

  • 20-Day High/Low - New High

  • 52-Week High/Low - New High

Disclaimer: This newsletter is strictly educational. The information provided in this report does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the report’s content as such. Please be careful and do your own research.