NEWS
Market Creeps Toward Positive Territory

U.S. stocks are clawing their way back towards green for the week, but retail investors remain skeptical. Stocktwits user sentiment is in ‘bearish’ territory for all the major indexes, though many investors and traders are still finding tactical opportunities in the market. Let’s see what you missed. 👀

Today's issue covers the whipsaw in Wall Street sentiment, cannabis stocks’ latest catalyst, and noteworthy earnings pops & drops. 📰

Here’s the S&P 500 heatmap. 11 of 11 sectors closed green, with technology (+3.73%) leading and utilities (+0.11%) lagging.

And here are the closing prices: 

P.S. We’re experimenting with different formats to streamline your experience. Like something, don’t like something, hit me up. I want to hear from you. 👍

STOCKS
The Emergency Is…Over?

There’s a saying on Wall Street that says, “Nothing changes sentiment like price.” And that rang true again as this week developed. 🙃

Monday’s Japanese Yen “carry trade crash” had many high-profile economists, analysts, and business leaders calling on the market and economy to crash.

Wharton’s Jeremy Siegel was quoted in CNBC calling for the Fed to make an “emergency rate cut” as the stock market was falling sharply. But less than four days later, the market stabilized, and Siegel backed off that call. ⏪

Now, the point of this is not to poke fun at him or the other analysts who have flipped their views on a dime. But rather to point out that nobody is going to look out for your needs and your portfolio better than you. 🫵

When the proverbial sh*t hits the fan, you want to make sure you have a plan in place so that you can decide whether the millions of pieces of information vying for your attention are worth consuming or acting on.

Because at the end of the day, every person and company has its own goals and purpose in the market. That’s why there are conflicting views on the same topic coming out every single day. 🔊

Refine your approach, filter your sources, and play your own game. Otherwise you’ll end up being thrashed around by the many opinions being shared daily.

Like Northwestern Mutual hedging against a recession with a record Treasury Bond ETF purchase. Or JPMorgan Chase raising its 2024 recession odds to 35% (in other words, a two-thirds chance of no recession). But also another team from JPMorgan Chase says the Fed’s lack of ‘urgency’ leaves the market at risk.

Talk about confusing. Time will tell how this week shakes out. But what’s clear is that this week was a good test for your own trading/investing process and a good opportunity to see what you’ll need to improve going forward. 🫡

Speaking of opinions, on Tuesday, we ran a poll asking how many of you were buying the dip. Roughly 50% of you said you were “waiting it out,” with the other 50% split between buying and selling. 📊

With the market on the edge of turning green for the week, we want to hear from you again. Share your prediction for tomorrow’s $SPY closing price. And if you’re on target, you’ll win 6 months of Stocktwits Edge! 🎯

STOCKTWITS “TRENDS WITH FRIENDS”
Experts’ Views On The Biotech Breakout 🧠