Market Milestones and Memes: Weekly Market Updates 5.19.2024

Welcome to GhosTrades, your go-to podcast for the latest insights and analysis in the trading world. This week, we're celebrating as SPX hits a new all-time high, but with the market in a squeeze position, the road ahead is anything but straightforward.

Inflation is on the decline, yet remains uncomfortably high, keeping traders on their toes. Meanwhile, meme stocks are back in the spotlight, making headlines with their unpredictable movements.

We'll also cover the Federal Open Market Committee (FOMC) speaking this week. While it's not expected to shake the market much, keep an eye on the existing home sales report, which could have a significant impact.

Stay tuned for more inflation news and insights into the Flash Manufacturing PMI, a key indicator of overall economic health. Plus, we'll delve into the diverging paths of gold and oil prices amidst ongoing turmoil in the Middle East.

In our technical analysis segment, we'll use the QQQ to gauge whether the market's bullish trend persists and check in on Bitcoin via BITO, noting a familiar pattern that could spell opportunity.

Finally, don't miss our spotlight on FCX, as rumors swirl about China's use of copper reserves and its potential market impact.

Join us on GhosTrades for a comprehensive look at the factors shaping the trading landscape this week, ensuring you stay informed and ahead of the curve.