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

Market Report Jan 13 2023

Market Report for Jan 13 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

CPI came in as expected on Thursday and the markets were swinging around 100 points on the Dow during that time to then settle down and close the session in the green.

During last weekend’s webinar, we discussed the potential pop in the market and this week and we have had that pop. We also discussed the scenarios regarding the VIX which is now below 20.

The S&P has

Continue ReadingMarket Report Jan 13 2023

Market Report Jan 12 2023

Market Report for Jan 12 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

Only one of our stocks failed to end Wednesday’s session positive but in the main, the market had been doing what we partly expected from the weekend webinar. The pop but still cautious of a drop.

Once again, strength from the mega-cap stocks helped the market before CPI today.

The S&P 500 is now approaching the DVI and 4000 zone.

The Nasdaq Composite is now just above the 50MA

Continue ReadingMarket Report Jan 12 2023

Market Report Jan 11 2023

Market Report for Jan 11 2023

S&P 500 and Nasdaq Daily Charts

Stocks and Commodities Price And Percent Changes

Tuesday witnessed another day of gains in mega-cap stocks which persuaded the S&P 500 to close above its 50 moving average.

Powell’s comments did not seem to impact the market much as investors await Thursday’s CPI number.

Back to normal trading today.

Let’s go trade!

Continue ReadingMarket Report Jan 11 2023

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