Pre Market Gaps AUG 7, 2024

Pre Market Gaps

Author

Brother Bill
August 07, 2024

Not even 830 am EST yet and it’s already a really big morning in the making. Lots of well known names and up and comers both are mean and green here in the Pre today. One that is not is SMCI. They missed earnings yesterday, this is important to know bc SMCI and NVDA are cousins where price often follows. NVDA however is not tanking this morning and as we mentioned yesterday is back in play. SMCI also announced a 10-1 stock split coming, most likely we will not be jumping in on that one unless buying really changes.

Last night I ran a fresh scan and some names did pop up, not as many as pre meltdown but some, that’s a good sign.

S+P 500 is all the rage for traders this morning, it’s already bounced back up close to yesterdays highs, if this is the follow through we are looking for, the day could end strong. SPX levels of 5330 and then 5380 are to be watched for bounces. If it fades like yesterday it would be out of fears of recession and trading volumes will be watched heavily as yesterdays was lower.

AMZN, we here at investingwithfaith.com have been in it forever, AMZN isn’t a name that you will ever see with super heavy trading in the Pre, never has been, unfortunately. If that ever changes we’ll let you know. This morning it’s roughly around $165.00 and we welcome that. Time to grind…..

Invest wisely, live charitably and be well

Brother Bill

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