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UBER Overdone on Today’s Sizzle Stocks 🎥

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MAY 24 2023
   

Dear Investor,

Based on the Purchasing Managers Index (PMI) released yesterday, manufacturing flipped to the contractionary side of the line while services continued its relentless expansion.

 
 
At 2pm ET today, we get a look at the FOMC minutes from the May meeting. The focus will be parsing out hawkish language. Which could add to the gradually rising expectations for the next move to be a hike (odds for a 25bps hike in June continue to rise).
 
 
During this morning “Sizzle Stocks” we discussed the S&P 500 continuing to move lower to 4090 – a target price I identified on May 12 – once it moved back through 4,155 (which it breached yesterday just prior to the close). That would be consistent with higher Fed Funds rates.
 
 
We also found a nice trade setup for Uber Technologies, Inc. (UBER) and discussed specifically what trade to make.
 
 
For the details, check out today’s “Sizzle Stocks” recording over on my Prosperity Pub channel on Telegram.

Take What the Markets Give You.
 
 
JACK CARTER
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Trade well,

Jack
   
 

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