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Welcome to our weekly newsletter where we provide an overview of the main US and UK indices, along with analyses of selected assets that are outperforming the market.

Let’s get into this week’s newsletter!

US & UK INDICES OVERVIEW

This week the strength in the S&P 500 continued, with a gain of 1.3%, resulting in an all-time high. The Nasdaq 100, the best of the US indices, recorded a gain of 2.5%, whilst the Dow Jones Index gained 0.2%.

The bullish momentum in equity markets remains strong. The S&P 500 has surged 27% since the low in October 2023 and 49% since the low in October 2022.

We continue to see individual stocks perform well. Our portfolio currently comprises over 20 US stocks, including LLY, AMP, META, NVDA and MCK. We have compounded these assets on multiple occasions, resulting in excellent profit for our Phoenix community members.

The FTSE 100, the UK’s premier index, declined 0.4% over the week, to close at 8245. Following a breakout above the all-time high in April, price has been bullish. As a result, we are now actively looking for opportunities.

OUTPERFORMING ASSET FOR THE WATCHLIST

Apple Inc. – AAPL

Apple (ticker: AAPL) needs little introduction; the market leader in personal computers, mobile devices and software. Apple is the world’s largest technology company by revenue, with US$394.3 billion of revenue in 2022. It is also considered as one of the big five American information technology companies, alongside Alphabet (parent company of Google), Amazon, Meta Platforms, and Microsoft.

AAPL has exhibited an impressive long-term trend since October 2010, resulting in a gain of over 2050%! While the stock displayed a particularly bullish performance throughout 2021, it experienced a period of weakness in 2022. However, bulls regained control in 2023. Price reached an all-time high in July 2023 before price entered a large period of consolidation.

Closing the week at $197, price is very close to the all-time high of $200. The strength in May, with a gain of 12/9%, has continued into June resulting in a further gain to date of 2.4%.

Price is trading above all key moving averages on both the weekly and daily time frames. And the Sublime trend filter, our proprietary tool, has a green signal on both time frames.

Looking ahead, the next significant level of potential resistance is the $200 round number and all-time high. Should AAPL demonstrate a continuation pattern above these levels, members of our Phoenix community may find an opportunity in a stock with a robust history of long-term trends.

OUTPERFORMING ASSET FOR THE WATCHLIST

Walmart Inc. – WMT

Walmart Inc. (ticker: WMT) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores in the United States. Walmart is the world’s largest company by revenue, with about US$570 billion in annual revenue, according to the Fortune Global 500 list in October 2022.

Price movements in WMT have historically shown distinct trends, particularly when breaking out above significant monthly pivot levels. This year is another example with price breaking out above last year’s high and forming a bullish trend.

WMT concluded the week at $68, a gain of 0.2%, including an all-time high. For the year, WMT has delivered an impressive return of 25%. WMT’s price continues to trade above both the 50 and 200 SMAs, signifying a positive trend. Our proprietary tool, the Sublime trend filter, remains green.

Whilst on the daily chart, the Sublime trend filter is also green, consistent with the longer-term trend perspective. Price action on the daily frame shows WMT trading above the 20, 50, and 200 SMAs.

Looking ahead, the next area of potential resistance is positioned at the $100 round number. Investors in our Phoenix community will be vigilant for the potential emergence of a continuation pattern above the all-time high. Such a development could provide an enticing opportunity for our Phoenix community members, particularly given the prevailing bullish long-term trend in this stock.

Looking Ahead

The strength in the US indices seen in May has continued into the first week of June. We believe the bullish trend will continue to dominate both the US and UK equity markets. Our multiple positions are benefiting from this momentum. As always, we will let price action guide our next move.

At Sublime, our unwavering commitment lies in conducting thorough analysis based on objective data and factual evidence presented in the charts. By adopting this approach, we aim to provide valuable guidance to our esteemed Phoenix community, collectively exploring opportunities that hold the potential for long-term, profitable trades.

Keep it simple. Keep it Sublime.

The ST Team

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