Following the hammering indices received the previous week, it seems that the bullish rally attempted to stage a retaliation.
However, it's been a back and forth tug-of-war. Again, corrections are par for the course in the stock market. This was how the past Friday closed by end of day (9/11/20):
Dow Jones Industrial Average: 27,665.64 +131.06 (+.48%)
S&P 500: 3,340.97 +131.06 (+.05%)
Nasdaq: 10,853.54 -66.05 (-.60%)
Russell 2000: 1,497.27 -10.48 (-.70%)
There's a handful of earnings worth noting in the upcoming week (Week of 9/14/20-9/18/20):
Let's look at Adobe's (ADBE) fundamentals shall we? Adobe is a tech company which offers software solutions in graphic design, video editing, website tracking tools. If you don't know Adobe, they're the main reason why "photoshop" is an actual verb in our vocabulary.
Last 4 earnings report:
2020 Q2: beat
2020 Q1: beat
2019 Q4: beat
2019 Q3: beat
November, 2029: Higher than previous
November, 2018: Higher than previous
November, 2017: Higher than previous
3-month: ~ +18.61%
1-year: ~ +68.33%
5-year: ~ +501.48%
Adobe's been looking pretty strong for the past few years. The 5 year return on Adobe is basically 5 times your initial investment. You didn't really need to do anything on top of just holding it if that was your goal in the first place. If you want to do more than just hold it, like, say, sell covered calls, come checkout us out at our Level 1 Courses!
Until next time!
- Call to Leap Team