Thursday 3 October 2024

What the Dockworker Strike Means for the Market, and China Mini-Bubble?

And China Investors Buying Gold?!
 
   
     
What the Dockworker Strike Means for the Market, and China Mini-Bubble?
 
 
In case you missed it… 

China has been on a tear since the Peoples Bank of China (PBOC) announced upward of 5 TRILLION yuan of stimulus for its economy. History says it will take five times more money than that to get the effects they’re going for.  

I got charts!!

Come join me as we dive in and see what is moving!

Plus, as always, we have stocks popping and dropping so come find out what is moving this morning as I look for stocks and do some live premarket analysis on SPX, SPY, NDX, QQQ, Russell, IWM and other stocks that are potential plays for the day. 

 
— — — 

The dockworkers’ strike that began this week has the potential to wreak havoc on supply chains. With East Coast dockworkers walking off the job, it's estimated that around $5 billion worth of goods are now sitting idle at the ports each day. 

This disruption could quickly snowball into delays across multiple industries, especially if no labor deal is reached soon.

For traders, the ripple effects might manifest in the form of volatility and pressure on various sectors. Companies that rely heavily on imported goods, from electronics to retail, could see their stock prices stumble as delays pile up. 

Additionally, inflationary pressure could re-emerge if supply chains remain constricted, driving up costs for goods and services.

Interestingly, despite the strike, the market hasn’t seen dramatic downside movements — yet. However, it’s important to stay cautious — supply chain snarls historically take time to manifest in stock prices, and a prolonged strike could introduce negative sentiment.

In terms of broader market movements, watch for reactions in consumer goods and transportation sectors. 

A prolonged disruption could also put a damper on GDP growth projections, weighing on market sentiment through the remainder of the year.

Staying nimble and keeping an eye on the headlines will be key as this story develops.


Today’s Daily Chart Setup: Frontline (FRO)  
 
 
This idea came directly from my Daily Chart Setup that automatically signals potential plays. 
 
FRO is a new potential entry. Target: 25.9 Stop below: 20.4
FRO has a historical win rate of 78.26%
FRO has a profit factor of 1.231
FRO trades last 24 trading days on average over 23 trades since 1993.

This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. Always remember that past performance is not indicative of future results.

You can find full details on exactly how this works by scrolling down further in this newsletter. 

Now be sure to join me live at 9:15 a.m. ET for “Morning Monster,” my market-open livestream on YouTube!

 
 
‘Morning Monster’ Is Starting NOW!
I’m also live at 5 p.m. ET on Tuesdays for “30 Minutes of Awesome” — bring your ticker and I’ll analyze it in real time!

And please hit that Subscribe button on my YouTube page!
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Take a Look at This Document… 
 
 
 

What you’re looking at is a “special amendment” from the U.S. Securities and Exchange Commission on Dec. 5, 2023…

An amendment that allows us to target extra income over the weekend from the largest asset on the planet: gold!

I’m talking about the chance to target $1,000 in extra income each weekend using ANY regular brokerage account (based on a $2K starting stake).

That means while the rest of the world is left with nothing to show on Saturday and Sunday…

We have an opportunity to target extra income over the weekend.

The best part is that with all the bullish news around gold right now, including hitting all-time highs for the fifth time this year…

 
 
Check This Out
The profits and performances shown are not typical and you may lose money. From 11/22/2023 - 9/26/2024 on live trades the win rate has been 76% with an average return of 28% (winners and losers) with an average hold time of 3 days.
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How the Daily Chart Setup Works
 
Here’s a more detailed description of how the pattern triggers:
 
1. The price breaks upward through the orange Market Roadmap Line. 

2. Then the price goes up and down while staying above the line. Eventually, it comes down to touch the line again — this could take days, weeks or even months. 

3. Once it touches the line and starts moving back up, that signals an entry. 

I use Fibonacci levels for for profit targets and stop losses, and these two tools combined have helped me achieve a 77% win rate over the past six-plus years!

You can grab my Market Roadmap Indicator here for just $5 — less than a cup of coffee at most places!


Jeffry Turnmire
Jeffry Turnmire Trading

I host my “Morning Monster” livestream at 9:15 a.m. ET each weekday on YouTube, and then “30 Minutes of Awesome” at 5 p.m. ET each Tuesday!

Please check out my channel and hit that Subscribe button!

I’m just a regular dude in Knoxville, Tennessee: a husband, father, civil engineer, urban farmer, maker and trader.

I've been at this trading thing with real money for 20-plus years, and started paper trading over 35 years ago. I have a knack for making some epic predictions that just may very well come true. Why share them? Because I like helping other people — it's the Eagle Scout in me. 


*This is for informational and educational purposes only. There is inherent risk in trading, so trade at your own risk. 
   
 

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