By Nigam Arora & Dr. Natasha Arora

Weekly Digest from The Arora Report is popular among serious investors and money managers because they have found studying insights from the prior week gives them an edge over the coming weeks. Here is the day by day rundown from the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers of The Arora Report. 

Please scroll down for the section ‘Protection Bands and What To Do Now.’

LARGEST FEAR GAUGE COLLAPSE IN HISTORY – NVIDIA RIPS – CARRY TRADE COME BACK

Aug 16, 2024

To gain an edge, this is what you need to know today.

Largest Fear Gauge Collapse

Please click here for a chart of volatility index VIX, also known as Wall Street’s fear gauge.

Note the following:

• The chart shows the spike in VIX on the carry trade unwind.
• The chart shows a collapse in VIX.  The collapse in VIX is the largest eight day collapse in history.
• Prudent investors should note that unwind of the carry trade that caused a big drop in the stock market is now back again.  Hedge funds are again borrowing in yen and buying Nvidia (NVDA) and other AI stocks.  As a result, NVDA stock has been ripping.  Adding to the NVDA move is some investors building big positions ahead of earnings on August 28.
• Thank you for all of your requests for podcasts on the carry trade and volatility.  We are starting work on podcasts on these topics.
• As volatility has dropped, Commodity Trading Advisors (CTAs) have now switched from selling to buying.  CTAs manage about $300B.  These advisors primarily trade futures in a systematic manner. CTAs have a substantial amount of cash they can deploy to run up the stock market.
• University of Michigan consumer sentiment data will be released at 10am ET and may be market moving.
• Among important earnings, semiconductor equipment manufacturing company Applied Materials (AMAT) reported earnings better than the consensus but less than the whisper numbers.  This is bringing in selling in AI related semiconductor stocks after a rip roaring rally.
  • Applied Materials is one of our favorite AI stocks.  It belongs to the picks and shovels strategy.  Smart money diversifies by strategy.  The Arora Report utilizes over fifty different strategies.  The Model Portfolios are diversified by strategies.  Those following the Model Portfolios are automatically diversified by strategies.
  • Long time members of The Arora Report are long AMAT from $16.   AMAT is trading at $204.87 as of this writing in the premarket, representing a gain of 1180%.  Along the way, there have been new buy zones for new members to get in at great prices. Last week, AMAT fell in the Arora buy zone.
• Technically, in the short term, the stock market is now overbought.  Overbought markets tend to be vulnerable to a pullback.  For this reason, The Arora Report has given a signal to take partial profits on tactical positions that were established last week during the stock market dip.
• As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.

Housing Starts

The new housing market is beginning to weaken.  Here is the just released data:

• Housing starts came at 1.238M vs. 1.35M consensus.
• Building permits came at 1.396M vs. 1.44M consensus.

Magnificent Seven Money Flows

In the early trade, money flows are negative in Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOG), Meta (META), Tesla (TSLA), and Apple (AAPL).

In the early trade, money flows are negative in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** (To see the locked content, please take a 30 day free trial) stocks in the early trade.  Smart money is *** stocks in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.

Gold

The momo crowd is *** gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

Oil is being sold since Iran has not yet made any reprisal against Israel.  In The Arora Report analysis, it is premature to sell oil as an Iranian reprisal may still come.  

The momo crowd is *** oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) has temporarily diverged from speculative tech stocks and junk stocks.  Bitcoin has seen a drop as bitcoin whales took advantage of the strength generated by retail buying to sell.

Markets

Our very, very short-term early stock market indicator is ***.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Interest rates are ticking down, and bonds are ticking up.

The dollar is weaker.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

Gold futures are at $2512, silver futures are at $28.27, and oil futures are at $75.10.

S&P 500 futures are trading at 5541 as of this writing.  S&P 500 futures resistance levels are 5622, 5748, and 5926: support levels are 5500, 5400, and 5256.

DJIA futures are down 116 points.

Protection Band And What To Do Now

It is important for investors to look ahead and not in the rearview mirror.

Consider continuing to hold good, very long term, existing positions. Based on individual risk preference, consider holding *** in cash or Treasury bills or allocated to short-term tactical trades; and short to medium-term hedges of ***, and short term hedges of ***. This is a good way to protect yourself and participate in the upside at the same time.

You can determine your protection bands by adding cash to hedges.  The high band of the protection is appropriate for those who are older or conservative. The low band of the protection is appropriate for those who are younger or aggressive.  If you do not hedge, the total cash level should be more than stated above but significantly less than cash plus hedges.

A protection band of 0% would be very bullish and would indicate full investment with 0% in cash.  A protection band of 100% would be very bearish and would indicate a need for aggressive protection with cash and hedges or aggressive short selling.

It is worth reminding that you cannot take advantage of new upcoming opportunities if you are not holding enough cash.  When adjusting hedge levels, consider adjusting partial stop quantities for stock positions (non ETF); consider using wider stops on remaining quantities and also allowing more room for high beta stocks.  High beta stocks are the ones that move more than the market.

Traditional 60/40 Portfolio

Probability based risk reward adjusted for inflation does not favor long duration strategic bond allocation at this time.

Those who want to stick to traditional 60% allocation to stocks and 40% to bonds may consider focusing on only high quality bonds and bonds of five year duration or less.  Those willing to bring sophistication to their investing may consider using bond ETFs as tactical positions and not strategic positions at this time.

THREE NEW PIECES OF DATA TRIGGER AGGRESSIVE BUYING IN NVIDIA AND AI STOCKS

Aug 15, 2024

To gain an edge, this is what you need to know today.

Strong Data

Please click here for a chart of Walmart stock (WMT).

Note the following:

• The Morning Capsule is about the big picture, not an individual stock.  The chart of WMT stock is being used to illustrate the point.
• Three news pieces of data have triggered aggressive buying in Nvidia (NVDA) and AI stocks.
• The three new pieces of data are:
  • Walmart earnings
  • Jobless claims
  • Retail sales
• Investors are building position in NVDA stock ahead of earnings on August 28.  As NVDA stock goes higher, it brings along other AI stocks.
• The chart shows a gap up on the release of WMT earnings this morning.
• The chart shows there was also a gap up after WMT earnings were reported last quarter.
• RSI on the chart shows that WMT is now overbought. Overbought stocks tend to pullback.
• Walmart earnings are important due to its sheer size and because it gives a good picture of consumer sentiment.  Here are the key points from Walmart’s earnings:
  • Walmart is not seeing consumer weakness. This data is contrary to other recent pieces of data.  Smart money is always analyzing both sides.  In contrast, the momo crowd pays attention only to the data that supports its position and ignores the rest.
  • Weight loss drugs are contributing to healthy sales.
  • High income earners have shifted to shopping at Walmart. 
  • Walmart reported EPS of $0.67 vs. $0.65 consensus for Q2.
  • Walmart is projecting EPS of $0.51 – $0.52 vs. $0.54 consensus for Q3.
  • Walmart is raising FY25 EPS to $2.35 – $2.43 vs. $2.23 – $2.37 prior.
• WMT is in the ZYX Buy Model Portfolio.  Long time members of The Arora Report have a gain of 282%. The WMT buy zone will be revised upwards for newer members.  
• The U.S. economy is 70% consumer based.  For this reason, prudent investors pay attention to retail sales.  The just released data shows that after a brief hiatus, the consumer is back on a spending spree.  Here are the details:
  • Retail sales came at 1.0% vs. 0.3% consensus and whisper numbers of 0.2%.
  • Retail sales ex-auto came at 0.4% vs. 0.2% consensus.
  • The foregoing data flies in the face of other recent data. The other recent data has been showing weakness.
• Weekly initial jobless claims came at 227K vs. 232K consensus.  Initial jobless claims is a leading indicator and carries heavy weight in our adaptive ZYX Asset Allocation Model with inputs in ten categories.  In plain English, adaptiveness means that the model changes itself with market conditions.  Please click here to see how this is achieved.  One of the reasons behind The Arora Report’s unrivaled performance in both bull and bear markets is the adaptiveness of the model.  Most models on Wall Street are static.  They work for a while and then stop working when market conditions change.
• On August 12, we shared with you The Arora Report call,

In The Arora Report analysis, the market reaction to the news has changed.  In November 2022, Powell triggered the stock market reaction function of bad news is good news and good news is bad news.  This reaction function persisted until mid-July 2024.  Starting in mid-July 2024, the market reaction function has changed – good news is good news and bad news is bad news.  As a member of The Arora Report, you knew in advance that this change was coming.  We have repeatedly written that the prior market reaction function was highly flawed as it counted on bad news leading to rate cuts but did not consider that bad news also negatively impacts earnings.  Now, the stock market is understanding the reality and has stopped ignoring the fact that bad news leads to bad earnings.

• The early market reaction to the good news from Walmart, retail sales, and jobless claims is very positive.  This shows that so far The Arora Report call on market reaction function is spot on.  
• What is the connection between aggressive buying in NVDA stock and the three new pieces of data above?  The connection is the stronger economy combined with upcoming Fed cuts will drive PEs of AI stocks higher.
• The stock market always has crosscurrents.  The data today is producing a fly in the ointment.  The fly is that bonds are falling.  This goes against the prevailing wisdom that bonds should be rising.  Falling bonds is a negative for the stock market as it negatively impacts PE ratios.  
• As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Amazon (AMZN), NVDA, Microsoft (MSFT), Alphabet (GOOG), Meta (META), Tesla (TSLA), and Apple (AAPL).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.

Gold

Gold is being sold on rising interest rates after the data.  

The momo crowd is *** gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The market is awaiting Iran’s response to Israel.

The momo crowd is *** in oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound.

Markets

Our very, very short-term early stock market indicator is ***.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Interest rates are ticking up, and bonds are ticking down.

The dollar is stronger.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

Gold futures are at $2490, silver futures are at $28.27, and oil futures are at $77.61.

S&P 500 futures are trading at 5528 as of this writing.  S&P 500 futures resistance levels are 5622, 5748, and 5926: support levels are 5500, 5400, and 5256.

DJIA futures are up 416 points.

NVIDIA POSITION BUILDING AHEAD OF EARNINGS, CPI DAMPENS SUPER BULLISH STOCK MARKET HOPIUM

Aug 14, 2024

To gain an edge, this is what you need to know today.

Hopium Dashed

Please click here for a chart of Nasdaq 100 ETF (QQQ).

Note the following:

• The chart shows that QQQ has traced an island reversal.  This is a bullish technical pattern.
• The chart shows the resistance zone is nearby.
• RSI on the chart shows the bounce from the oversold condition continues to strengthen.
• The chart shows the power of the bounce from the oversold condition overcame the negative in the Producer Price Index (PPI) report.  Please see yesterday’s Morning Capsule for details.
• Consumer Price Index (CPI) data came in line with consensus.  Here are the details:
  • Headline CPI came at 0.2% vs. 0.2% consensus.
  • Core CPI came at 0.2% vs. 0.2% consensus.
• Whisper numbers circulating among the super bullish momo crowd were 0.1% for the headline and 0.1% for the core.  As a result, the momo crowd is positioned for a rip roaring stock market rally after the CPI release.  The momo crowd aggressively bought stocks ahead of the release.  After the release, there is disappointment since the data came hotter than the whisper numbers.
• Now that CPI data came in warmer than the whisper numbers, prudent investors should carefully watch the new narrative that momo gurus may come up with to prevent their followers from selling stocks.
• In The Arora Report analysis, the determining factor in the very short term will be if the aggressive buying in AI stocks continues or falters.
• Nvidia (NVDA) stock saw aggressive position building yesterday ahead of earnings, which are set to be released on August 28.
• Aggressive buying in NVDA lifted all AI stocks.
• The U.S. government is looking at breaking up Google (GOOG, GOOGL) after a judge ruled that Google is a monopolist.  Investors are temporarily shrugging off the news hoping that Trump will be elected and keep Google intact.
• As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.

U.K.

U.K. July CPI came at -0.2% vs. 0.0% consensus.  Inflation data in the U.K. tends to lead U.S. data.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Nvidia (NVDA) and Tesla (TSLA).

In the early trade, money flows are neutral in Apple (AAPL), Amazon (AMZN), Microsoft (MSFT), and Meta (META).

In the early trade, money flows are negative in Alphabet (GOOG).

In the early trade, money flows are mixed in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** in stocks in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.

Gold

The momo crowd is *** in gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

API crude inventories came at a draw of 5.205M barrels vs. a consensus of a draw of 2M barrels.

The momo crowd is *** in oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound.

Markets

Our very, very short-term early stock market indicator is ***.  Whichever way the market starts moving, Wall Street machines will jump in that direction, exaggerating the move.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Interest rates and bonds are range bound.

The dollar is weaker.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

Gold futures are at $2504, silver futures are at $27.89, and oil futures are at $78.62.

S&P 500 futures are trading at 5467 as of this writing.  S&P 500 futures resistance levels are 5500, 5622, and 5748: support levels are 5400, 5256, and 5210.

DJIA futures are up 7 points.

PAY ATTENTION: INFLATION HEADLINE IS MISLEADING, HOME DEPOT EARNINGS SHOW CONSUMER WEAKNESS

Aug 13, 2024

To gain an edge, this is what you need to know today.

Misleading Headline

Please click here for a chart of Home Depot (HD).

Note the following:

• The Morning Capsule is about the big picture, not an individual stock.  The chart of HD stock is being used to illustrate the point.
• Home Depot is an important stock because it is the largest home improvement retailer and its earnings give a glimpse into consumer sentiment.  HD is also a component of the Dow Jones Industrial Average (DJIA).
• The chart shows that HD pulled back 20% from its high in March to its low in May.
• The chart shows that the rally from the low has made a double top.  A double top is a negative pattern.
• The chart shows that the double top was made at a level significantly below the high.  This is a negative.
• The chart shows the price drop on earnings.
• HD reported good earnings but the stock is falling on weaker comp sales outlook.  The weaker comp sales outlook shows that the consumer is weakening.  Here are the details:
  • HD sees FY24 comp sales down 3% – 4% vs. down 1% prior.
  • HD reports adjusted EPS of $4.67 vs. $4.49 consensus.
  • HD reports revenues of $43.18B vs. $43.06B consensus.
• RSI on the chart shows that HD stock is now oversold.
• On the surface, Producer Price Index (PPI) came weaker than expected.  Here are the details:
  • Headline PPI came at 0.1% vs. 0.1% consensus.
  • Core PPI came at 0.0% vs. 0.2% consensus.
• As of this writing, the stock market is running up focusing on PPI headline.  However, in The Arora Report analysis, digging below the surface, the data is not as good as it seems.  PPI ex-food, energy, and trade came at 0.3% vs. 0.2% consensus.  This indicates the companies’ profit margins are compressing and in actuality, inflation is higher than reflected in the headline.  
• In The Arora Report analysis, compression in margins has a negative read through for earnings.  This data, along with several other pieces of data, is indicating that Wall Street’s estimates for future earnings may be too high.  
• Prudent investors know that in the long run, earnings are the single best determinant of the stock market.
• Consumer Price Index (CPI) will be released tomorrow at 8:30am ET.  CPI is more important than PPI.
• As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOG), Meta (META), Tesla (TSLA), and Apple (AAPL).

In the early trade, money flows are mixed in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.

Gold 

Gold December futures have crossed above $2500.

The momo crowd is *** gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

The world is developing an oil surplus.  Right now, the focus is on a potential attack by Iran.

The momo crowd is *** oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

Bitcoin (BTC.USD) is range bound.

Markets

Our very, very short-term early stock market indicator is ***.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Interest rates are ticking down, and bonds are ticking up.

The dollar is weaker.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

Gold futures are at $2510, silver futures are at $27.83, and oil futures are at $79.92.

S&P 500 futures are trading at 5397 as of this writing.  S&P 500 futures resistance levels are 5500, 5622, and 5748: support levels are 5256, 5210, and 5020.

DJIA futures are up 126 points.

PAY ATTENTION TO CHANGE IN STOCK MARKET REACTION – HEAVY MOMO LOSSES – HOPIUM FOR A RALLY

Aug 12, 2024

To gain an edge, this is what you need to know today.

Change In Market Reaction

Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).

Note the following:

• The chart shows the stock market has moved above the top band of the support zone.
• RSI on the chart shows the stock market is poised for a rally.
• Even though technically the stock market is poised for a rally, in The Arora Report analysis, the determining factor will be the economic data and earnings that are ahead.  This is a data heavy week.  All of the following has the potential to significantly move the market:
  • Producer Price Index (PPI) will be released tomorrow.
  • Consumer Price Index (CPI) will be released on August 14.
  • Retail sales will be released on August 15.
  • Jobless claims will be released on August 15.
• There are important earnings ahead from Home Depot (HD) and Walmart (WMT). These earnings will give a glimpse of consumer behavior.  WMT is in the ZYX Buy Model Portfolio.  The position has 255% unrealized gains.
• In The Arora Report analysis, the market reaction to the news has changed.  In November 2022, Powell triggered the stock market reaction function of bad news is good news and good news is bad news.  This reaction function persisted until mid-July 2024.  Starting in mid-July 2024, the market reaction function has changed – good news is good news and bad news is bad news.  As a member of The Arora Report, you knew in advance that this change was coming.  We have repeatedly written that the prior market reaction function was highly flawed as it counted on bad news leading to rate cuts but did not consider that bad news also negatively impacts earnings.  Now, the stock market is understanding the reality and has stopped ignoring the fact that bad news leads to bad earnings.    
• Risk and reward are two sides of the same coin in investing.  Smart money takes into account both risk and reward.  In contrast, the momo crowd takes into account only the reward and ignores the risk.  At present, the hopium among the momo crowd is that the upcoming economic data will start a rip roaring rally.  However, prudent investors need to keep in mind that there is no guarantee the upcoming data will turn out as the momo crowd is envisioning.
• Another factor prudent investors need to take into account is that the momo crowd does not have the same fire power it had only a week ago.  The reason is that the momo crowd suffered heavy losses last week even though the stock market has recovered.
  • Due to margin calls, many momo crowd positions were liquidated with heavy losses near the lows last week.
  • The momo crowd had heavily bought weekly call options going into last week. Those call options expired worthless on Friday.
• As an actionable item, the sum total of the foregoing is in the protection band, which strikes the optimum balance between various crosscurrents.   Please scroll down to see the protection band. The protection band is one of the large number of unique edges that are available to members of The Arora Report.

Magnificent Seven Money Flows

In the early trade, money flows are positive in Nvidia (NVDA) and Microsoft (MSFT).

In the early trade, money flows are neutral in Amazon (AMZN), Alphabet (GOOG), Meta (META), Tesla (TSLA), and Apple (AAPL).

In the early trade, money flows are positive in S&P 500 ETF (SPY) and Nasdaq 100 ETF (QQQ).

Momo Crowd And Smart Money In Stocks

The momo crowd is *** stocks in the early trade.  Smart money is *** in the early trade.

Note for new members: Smart money often sells into the strength generated by momo crowd buying and buys into the weakness generated by momo crowd selling.  Over a long period of time, investors come out ahead by adopting smart money’s ways.  The exception is in a raging bull market – for very short term trades, consider following the momo crowd and not smart money.

Gold

The momo crowd is *** in gold in the early trade.  Smart money is *** in the early trade.

For longer-term, please see gold and silver ratings.

Oil

Oil is running up on fears of reprisal by Iran.

The momo crowd is *** oil in the early trade.  Smart money is *** in the early trade.

For longer-term, please see oil ratings.

Bitcoin

There is disappointment that whales did not run up bitcoin (BTC.USD) over the weekend.  As a result, bitcoin has dropped below $60,000 as of this writing.

Markets

Our very, very short-term early stock market indicator is ***.  This indicator, with a great track record, is popular among long term investors to stay in tune with the market and among short term traders to independently undertake quick trades.

Interest rates and bonds are range bound.

The dollar is stronger.

Trading futures is not recommended for most investors. The purpose of providing this information is to give an indication of the premarket activity that usually guides the activity when the market opens.

Gold futures are at $2483, silver futures are at $27.88, and oil futures are at $77.85.

S&P 500 futures are trading at 5382 as of this writing.  S&P 500 futures resistance levels are 5400, 5500, and 5622: support levels are 5256, 5210, and 5020.

DJIA futures are up 56 points.

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Nigam Arora

Nigam Arora is known for his accurate stock market calls. Nigam is a distinguished master of the macro. He is a popular columnist with over 100 million page views, an engineer, and nuclear physicist by background. Nigam has founded two Inc. 500 fastest growing companies and has been involved in over 50 entrepreneurial ventures. He is the developer of Theory ZYX of Successful Change Management and is the author of the book on Theory ZYX, as well as the developer of the ZYX Change Method for Investing.

Dr. Natasha Arora

Dr. Natasha Arora has significant expertise in investment analysis especially biotech, healthcare, and technology. Natasha is a graduate of Harvard Medical School followed by a postdoc at MIT. She has published several peer reviewed research papers in top science journals.