Ed Ponsi is the managing director of Barchetta Capital Management, an NFA-registered commodity trading advisory, and is also the president of FXEducator. An experienced professional trader, Ponsi has advised a variety of hedge funds and institutional traders. Ponsi has appeared on CNBC more than 50 times and has been profiled in magazines such as "Technical Analysis of Stocks and Commodities" and "The Traders Journal." He is the author of Selling America Short: The New World Order vs. the American Middle Class, released in Novermber 2011; Forex Patterns and Probabilities, a top-selling book on currency trading that has been translated for release in China; and The Ed Ponsi Forex Playbook, which was endorsed by Steve Hanke, professor of applied economics at The Johns Hopkins University.
The weakness in Netflix and Alphabet may be foreshadowing less-than-stellar earnings reports.
What is undeniable is that the S&P 500 reached an intraday six-month high the morning of May 1, and then began to slide.
Walmart's China exposure is less than peers and it is kicking into high gear in competing with rivals.
Shares of the social media concern have doubled in price since the start of the year, and its charts project further gains ahead.
The streaming video service provider has surrendered nearly 10% of its value this month.
It might not be a bad idea to move toward some conservative names such as PG, MDLZ and PEP.
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