Softer Inflation Fueled the Market
Daily plan for SPX and ES=F, plus a special zoom in to SpaceX covering its Fundamentals
Tech shares and softer-than-expected inflation data fueled the stock market today. The SPX breached the 7,800 milestone for the first time to set a new all-time high.
Last night, we studied charts for the SPX and ES=F, highlighting two key levels that would provide direction to the next move:
7,729 for the SPX: “if that level breaks, a gap fill thesis would be likely”
and:
7,799 for the ES=Futures, “if that one is breached, there could be a continuation for this bull leg”.
Both levels were very close to price action, in addition, today’s CDL for the SPX (7,750) kept its support condition from the opening.
Using levels to validate direction is an essential tool to navigate a ticker when price action is moving in a narrow range as studied yesterday.
Today we will cover the daily plan for tomorrow, levels will be essential considering how the volatility index closed today.
As a special note, today we will cover the fundamental analysis for SPCX, last night we covered AMZN, TSLA, GOOG, MSFT, AAPL, and META, as the magnificent that have posted earnings results, the analysis is here in case you missed it.
Today’s content:
Fundamental Analysis for SpaceX (SPCX)
Daily Plan for SPX and ES=F
Daily levels for Friday, Aug14th: SPX, ES=F, TSLA, NVDA, AAPL, MSFT, AMZN, META, GOOG, and SPCX.
Let’s begin.
SpaceX provides comprehensive solutions across space exploration, telecommunications, and artificial intelligence. The organization is structured into three primary divisions:
Space: This sector handles the deployment and operation of the Falcon, Dragon, and Starship spacecraft.
Connectivity: This branch manages satellite and mobile network services, specifically through its Starlink and Starshield programs.
Artificial Intelligence: This division focuses on building data center infrastructure, advancing the Grok large language model, and creating various other AI applications.
This is the fundamental snapshot: