5000 SPX could be back in the cards

Daily Pit Stop [fstp, logo, header] February 21, 2024 [ag views, logo, header] Nvidia and the Fed will test the 5000 SPX line in the sand Stocks spent all day selling off and I cannot tell what the reason was. PPI numbers coming in hot did not help, as most early interest rate drops are off the table. Now with 4 whole days above 5000 trader are looking for a new reason to get bullish is what I believe is a bull market right now. [fstp] The number #1 reason stocks are rallying, besides AI, is the rate hikes are over from 2022 and 2023. If that turns around, I think stocks get shellacked so a big part of the move this week will be the FOMC minutes tomorrow. If the Fed is somewhat dovish, I think we jump and skip right back above 5000 SPX. Nvidia should deliver a solid report since all the other chip makers and fabs reported great numbers.  5100 by the end of the week anyone? - AG  [logo, pit profits] Want to find YOUR winning fit? Give our Customer Care Team a call at [1-888-872-3301](tel:/1-888-872-3301) Monday-Friday from 9 a.m. - 5 p.m. EST. Or email them anytime at [support@optionpit.com](mailto:/support@optionpit.com)  [frep] How We'd Trade MSFT Hey Trader, This week during our Ticker Highlight Show, we covered Microsoft Corp (Ticker: MSFT). If you don't know what our Ticker Highlight Show is, it's an extra live trading session Andrew and I host on Mondays at 10:30 a.m. ET each week for Option Pit paid traders who have an account on our Option Pit WebApp. This means they get their trade alerts INSTANTLY. If you are a paid subscriber and haven't logged in, [you can find full instructions HERE](. I suggest you do that now - because these trading sessions have been on fire. [Check out the track record right here.]( We each gave our thoughts on MSFT last week in the Pit Report, and we held a live roundtable show yesterday to come up with some actionable trades for you. [Click here to watch the full show.]( (And again - to get these trades LIVE with us each Monday, [follow these instructions]( to login to the Option Pit WebApp) - Mark  [fpri] US Debt Spiral Takes Center Stage Hey Income Hunters, In the late 19th century Alexander Hamilton wrote “National Debt, if not excessive, will be to us a national blessing.” This was a quote taken from the Jamie Dimon article on how US debt is the “most predictable crisis” in history message … [complete story here](.   Investors should not underestimate the significance behind Jamie Dimon and other respected wall street observers voicing concerns of the growing debt problem. Consider the urgency with which JPM became the second gold custodian for the SPDR Gold Trust ETF (Ticker: GLD) and then shifted much of physical gold holdings into its own custodial vault over the past year. Another key event this year was the urgent approval process for the Bitcoin ETFs … Both moves signal the rapid shift in sentiment around the US debt situation and this time sentiment is backed by real-money flows ,,, [Today, we will look at the historical relevance of the events above and the most critical signpost to monitor for a massive shift in global flows …Â]( - Bill  [fpip] Back Together, Again Hi Shoppers, We are finally reunited. I haven’t seen my husband since the day after Christmas. We missed New Year’s Eve and the Super Bowl together for the first time ever. We were each helping out our parents in their recoveries. I am happy to report everyone is doing well. So he has returned to Dallas from south Texas and I have returned from Arkansas. It is so nice to see him. This weekend I do have Moms’ Weekend at TCU. My son’s fraternity hosts activities for the Moms. Friday night we will be playing bocci which sounds very fun. Saturday night they are hosting a wine tasting. Sounds nice right? Well the wine tasting isn’t at a restaurant or a wine or shop anywhere you would find nice wines. The boys are holding our tasting at one of their frat houses. Not sure any of them know anything about wine. It’s the thought that counts, though, right? I will let you know how they tasted next week. On to the trade. [Apple (Ticker: AAPL) is sitting on support with a doji candle, go here and check it out.]( - Licia   [glossary, logo] There are plenty of terms in the trading world that need explaining. The Option Pit Glossary is here to help. Today's phrase is:  Bank Leverage Ratios - balance sheet ratios that force banks to either hold more capital against risky assets or to ensure they have enough short-term liquidity in times of stressed financial conditions.. Three major ratios that were created post the great financial crisis are the Supplementary Leverage Ratio (SLR), the Liquidity Coverage Ratio (LCR) and the Net Stable Funding Ratio (NSFR)... [ftsp] All the Right Options. The Option Pit Team brings more than 150 years of experience to you every day. From the trading pits of Chicago to the world's largest banks to the halls of power in DC -- they've done it all. Now they’re collectively focused on one thing: making YOU a better, more profitable trader. Click the button below to schedule a call with our concierge Customer Care Team to find your best fit today. DISCLAIMER: FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. The materials presented from Option Pit LLC are for your informational and educational purposes only. 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