Market Report Nov 23 2022

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

At least a 1% increase across the major indices on Tuesday and all the sectors also enjoyed a good day.

Mega-cap stocks that endured some selling in recent sessions found their bullish momentum and there seemed to be some buying interest in stocks that had taken a battering of late as we now approach the holiday season.

Last trading day before Thanksgiving so nearly time to get ready for our prekend.

Let’s go trade!

Continue ReadingMarket Report Nov 23 2022

Market Report Nov 22 2022

Market Report for Nov 22 2022

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

As the shortened trading week kicked off, the lagging mega-cap stocks weighed down on the stock market. Nasdaq fell 1% while Dow Jones Industrial Average only declined by 0.13%.

TSLA tagged a 52-week low today which is where the 200-week line has been waiting with open arms but DIS had a very bullish day as Bob Iger was re-appointed as CEO.

Overall, a muted Monday.

Let’s go trade!

Continue ReadingMarket Report Nov 22 2022

Market Report Nov 18 2022

Market Report for Nov 18 2022

S&P 500 and Nasdaq Daily Charts

Commodities Price And Percent Changes

Fed President Bullard said the fed funds rate may need to be between 5-7% which is more than was expected by the market. Higher rates will lead to worries about the economy and might see further stunted earnings growth.

The market closed slightly in the red across the board but higher from the start of the day, even after Bullard’s statement.

Both the S%P 500 and Nasdaq Composite are

Continue ReadingMarket Report Nov 18 2022

Market Report Nov 17 2022

Market Report for Nov 17 2022

S&P 500 and Nasdaq Daily Charts

Commodities Price And Percent Changes

The market’s reaction to October sales seemed mixed as well as towards the earnings from LOW and TGT. Many stocks closed in the red.

Over the last few days, we could be seeing the market contemplating before commencing a new move.

When there is nothing to do, do nothing. Wait for the price action to dictate our action.

Let’s go trade!

Continue ReadingMarket Report Nov 17 2022

Market Report Nov 16 2022

Market Report for Nov 16 2022

S&P 500 and Nasdaq Daily Charts

Commodities Price And Percent Changes

PPI coming in cooler than expected, the markets found reasons for some additional premarket strength going into the open on Tuesday.

The market suddenly found some weakness during the session after reports of Russian missiles in Poland (NATO member) killing two people. After that, the market did find some strength again but seemed to have lost the momentum it displayed prior to that news.

So far the markets are

Continue ReadingMarket Report Nov 16 2022

Market Report Nov 15 2022

Market Report for Nov 15 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Commodities Price And Percent Changes

The market has been on a steady incline for the past few weeks and it seemed the market had to pause and contemplate the next move it should make after eyeing up the resistance level just above at 4000.

Fed Governor Waller said “we’ve still got a ways to go” before stopping interest rate hikes. That seemed to stunt the bullish sentiment for the session.

PPI figures may spark

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Market Report Nov 11 2022

Market Report for Nov 11 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

The much anticipated CPI came in cooler than expected giving a boost to the market and taking all our stocks up, except one.

Any short positions entered on Wednesday’s weakness will quite likely have experienced severe pain on Thursday’s session as the premarket rallied heavily.

As we mentioned on the weekend webinar, we needed tech to join the party and it certainly made an appearance yesterday. All the major

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Market Report Nov 10 2022

Market Report for Nov 10 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Disappointing earnings, midterm election and upcoming CPI all contributed to a bearish day yesterday.

The market saw a fair amount of broad-based selling that of course resulted in all the major averages closing in the red.

We will be taking our action after the keenly awaited CPI and this weekend to cater for any continued bearish moves that could arise from here.

Let’s go trade!

Continue ReadingMarket Report Nov 10 2022

Market lacks bullish momentum bars

Stock market lacks bullish bars

As of Nov 09 2022 the stock market is looking better but currently lacking the big bullish momentum bars up.

This will either mean the market is carrying the least number of investors onboard as it starts the bull trend or the trend is not that bullish and will breakdown.

We do know we are in a choppy period which has been mentioned many times on the weekend webinars and for that reason, we are

Continue ReadingMarket lacks bullish momentum bars

Market Report Nov 09 2022

Market Report for Nov 09 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

The midterm elections may have played a part in Tuesday’s trading and the CPI due out on Thursday will certainly offer some concerns to this stock market and forex market.

Halfway into the session, the stock market decided to search for some weakness before picking up once again but closing off their highs.

Semiconductor stocks seemed to be having some strength during this session.

Let’s go trade!

Continue ReadingMarket Report Nov 09 2022

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