🧪 We're Back!

Good Morning!

From the S&P 500's best day since 2022 to Bitcoin's explosive comeback, we've got the pulse on what's driving your portfolio. And if you're not paying attention, you're already behind.

Oh, and did we mention Mr. M just dropped a trade idea that's got "winner" written all over it? SharkNinja’s latest earnings are off the charts, and the stock is poised to break out. You don't want to miss this.

Let’s get into it 👇

🌡 Market Temperature Check

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📈 S&P 500 Logs 2.3% for Best Day Since 2022 as Jobs Data Offsets Recession Worries
Investors took the win and ran with it Thursday, as fewer jobless claims sparked a buying spree. The S&P 500 ripped 2.3% higher, with the Dow and Nasdaq tagging along, up 1.8% and 2.9%.

🚀 Bitcoin Rockets 15% as Good Jobs Data Ignites Post-Selloff Bargain Hunt
Bitcoin’s back with a vengeance, soaring 26% in just a few days after a hot report lit a fire under the crypto market. From $55K to nearly $63K, the OG token proved it's still the heavyweight champ when the discounts hit.

🤔 US futures, Disney, Chinese inflation, EV sales - what's moving markets
Wall Street’s shaking off Monday’s mess and gearing up for a strong finish. Disney’s doubling down on its Entertainment game, and China’s new energy sales just stole the auto show.

👟 Under Armour Stock Jumps With Restructuring in Full Swing
Under Armour (UAA) bounced back 20% on Thursday, hitting $7.74, but it’s still down 12% for 2024. Despite a 10% revenue drop in Q1, they beat expectations and are feeling good about their restructuring progress.

🔮 Where Will Nvidia Stock Be in 1 Year?
Nvidia’s cooled off a bit since its 52-week high, but no sweat—the AI chip demand is still going strong. With their latest AI chips, The Motley Fool thinks Nvidia's got the juice to keep dominating this market.

📈 What I’m Trading

The Play

One of our sharpest analysts, Mr. M, just dropped a juicy swing trade idea in the TradingLab community that you don’t want to miss. We’re talking about SharkNinja, Inc. ($SN) – a stock that's been on an absolute tear, and with recent earnings, it’s showing no signs of stopping.

Mr. M entered between $80 and $84 with an upside target that could break $100. Get in at these levels, and you could be riding a wave of momentum that turns into a tsunami.

• Entry: $80 - 84

• Levels: 86 / 88 / 90 / 92 / 94 / 96 / 100+

• Stop Loss: 74.50

The Catalyst

SharkNinja just reported some killer financials for Q2 2024, and the numbers speak for themselves:

• Net Sales surged 31.4% to a whopping $1.25 billion.

• Gross Margin jumped by 630 basis points – that’s a serious boost.

• Net Income skyrocketed by 470.1%, raking in $68 million. Adjusted Net Income isn’t far behind, up 52.9% to $99.6 million.

These numbers aren’t just good; they’re exceptional. It’s the kind of earnings report that grabs the attention of big money, and we’re already seeing the stock react. With such strong financials backing it, SharkNinja is set to continue its climb, making this a perfect time to jump in.

Our Take

This chart is screaming "breakout." After consolidating for a few weeks, $SN just busted out of a tight range, breaking through resistance with serious volume. That’s your cue – the technicals are aligning perfectly with the fundamental catalyst.

You see that massive green candle on the chart? That’s the market saying, “We like what we see.” And with levels to watch at 86, 88, 90, and beyond, this stock has plenty of room to run. The stop loss at 74.50 gives you a solid risk-reward setup, but let’s be real – this one’s looking strong.

Don’t miss out on this opportunity to ride the wave.

If you’re not in the TradingLab community yet, what are you waiting for? 

Our analysts like Mr. M are dropping gems like this regularly, and you don’t want to be the last one to the party.

Join us, get in on these trades, and watch your portfolio grow.

✍ TL;DR

Market Overview:

• S&P 500: Surged 2.3%, best day since 2022, driven by strong jobs data.

• Bitcoin: Exploded 15%, reclaiming momentum after a recent selloff.

• Key Movers: US futures, Disney, Chinese inflation, and EV sales in focus.

• Under Armour: Jumped 20% on restructuring progress despite year-to-date losses.

Your Trade:

• Stock: SharkNinja, Inc. ($SN)

• Entry: $80 - $84

• Target: $100+ with key levels at 86, 88, 90, and beyond.

• Stop Loss: $74.50

• Catalyst: Blowout Q2 earnings with 31.4% sales growth, 630 basis point margin increase, and a 470.1% net income surge.

• Our Take: The stock just broke out of consolidation – it's primed for a run, and the technicals align perfectly with the fundamentals. Don’t miss the wave.

Stay ahead, stay informed, and most importantly, stay profitable.

‘til next time,

TradingLab