Market Report Feb 01 2023

Market Report for Feb 01 2023

S&P 500 and Nasdaq Daily Charts

The S&P 500 and Nasdaq Composite are once again retesting the recently made highs.

Today we get the FOMC rate decision so we are still standing aside until after this news.

We are in earnings season so anything could happen but so far all of our stocks have faired well. We are still ready to axe any laggards so watching for any stocks not performing inline with the market.

Continue ReadingMarket Report Feb 01 2023

Market Report Jan 31 2023

Market Report for Jan 31 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

Discussed in the weekly webinar and in TRC was the possible roadblock facing the S&P 500 and Nasdaq Composite and on Monday we saw price retreat from the highs of last week. This is no surprise to us, and a pullback based on profit-taking will be healthy for the reasons mentioned at the start of each of the recent weekly webinar analysis.

We did not take any new positions

Continue ReadingMarket Report Jan 31 2023

Market Report Jan 27 2023

Market Report for Jan 27 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

The last time Nasdaq Composite was above its 200-day line was 257 trading days ago. The index is also just dealing above the 200-week line also. It will be important to have a bullish close to the week.

The S&P 500 managed to break above 4000 zone and recent pivot high as well as dealing above the 50-week high. Again, it is important the index also has a bullish

Continue ReadingMarket Report Jan 27 2023

Market Report Jan 26 2023

Market Report for Jan 26 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

Another weak premarket ending the session flat on anticipation of earnings for some big companies.

We hold positions in MSFT and TSLA and both have reported earnings AMC over the last two days. All things considered, the earnings were acceptable for us to continue with these positions although it is also very much market dependent.

VIX remains below 20.

Let’s go trade!

Continue ReadingMarket Report Jan 26 2023

Market Report Jan 25 2023

Market Report for Jan 25 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

Futures were weak to start Tuesday’s session off before and after the PMI data but managed to gain back some ground during RTH.

After-hours MSFT earnings were released which beat expectations but gave weak guidance.

Earnings continue so be prepared for beats and misses.

Let’s go trade!

Continue ReadingMarket Report Jan 25 2023

Market Report Jan 24 2023

Market Report for Jan 24 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

The S&P 500 managed to maintain momentum as price moved up the 200-day line and 4000, although still below the 50-week line. Monday was the third largest percent gain this year.

The Nasdaq Composite is above the 50-day line but below the 200-day and week line and yesterday was also the third biggest gainer this year.

Mega-cap provided strength overall and was helped with the broader market participation.

Let’s

Continue ReadingMarket Report Jan 24 2023

Market Report Jan 20 2023

Market Report for Jan 20 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

Is the market retreat just profit-taking or the start of a new bear trend? Either way, we have taken some profits and managed trades on Thursdays session.

The weekly initial claims have fallen to the lowest levels since September 2022 ad with inflation perhaps slowing down, all is looking good.

All three major averages closed in the red with just three sectors ending the session positive. VIX has remained

Continue ReadingMarket Report Jan 20 2023

Market Report Jan 19 2023

Market Report for Jan 19 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

Wednesday we had the PPI number which the premarkets reacted to positively but as the RTH session progressed, the stocks began to see weakness, especially in mega-cap and the day closed with the S&P 500 back below its 200-day line.

VIX is back slightly above 20 mark so now we will watch the reaction and any follow-through from yesterdays market before considering our next move.

Let’s go trade!

Continue ReadingMarket Report Jan 19 2023

Market Report Jan 18 2023

Market Report for Jan 18 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

With PPI today, there was not much to do on Tuesday other than watch the bullish session unfold.

So far there has been missed reaction to earnings, but mega-cap has managed to climb while the Dow Jones Industrial Average struggled with a 400 point drop.

Almost all of our stocks were positive for the day.

Let’s go trade!

Continue ReadingMarket Report Jan 18 2023

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