Market Report Sep 30 2022

Market Report for Sep 30 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

With the prior day rally being completely neutralised as the S&P 500 fell to new lows for 2022. The Nasdaq has still managed to escape any breach of YTD lows even with the AAPL downgrade by BoA which saw the stock decline 5% on Thursday’s trading.

We are still standing aside. The trimming of our portfolio at the start of the month and in recent weeks has helped with

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Market Report Sep 29 2022

Market Report for Sep 29 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

A rally on Wednesday after a new low this year was printed for the S&P 500 the day before. Yesterday saw a buck of the six consecutive losing days as it approached the weekly 200 moving average.

BoE set the theme for the day after they said they would postpone the sale of gilts that were due to begin next week. Instead, started to immediately buy UK government bonds

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Market Report Sep 28 2022

Market Report for Sep 28 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

The day started with the markets revved up but we have been here before and bought the t-shirt, signs of bullishness soon abated. The day ended mixed with the Nasdaq closing positive and S&P 500 and Dow 30 closing negative. The S&P 500 undercut its June 2022 lows.

Other than three stocks, all others closed positive for the day.

The September slump seems very long and there is no

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Market Report Sep 27 2022

Market Report for Sep 27 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Another red day but some relative strength in mega-caps did help limit the losses on Monday’s session.

While many stocks may appear oversold, this is more of an accurate hindsight interpretation. Just because an indicator shows as oversold, does not mean the market will abide by that reading and turnaround. So use caution when using overbought/oversold indicators. They offer little to no edge.

So how are we dealing with

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Market Report Sep 22 2022

Market Report for Sep 22 2022

S&P 500 and Nasdaq Daily Charts

The FOMC voted unanimously to increase the target rate by 75 basis points. This was not a surprise for the market although the commentary that followed with the terminal rate estimate brought up to 4.60% from what was originally 3.80%.

Still another week remaining for September and we will look to buy more stocks after that period if the market sets up.

Let’s go trade!

Continue ReadingMarket Report Sep 22 2022

Market Report Sep 20 2022

Market Report for Sep 20 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Selling follow-through sentiment was the premarket behaviour which changed as the session continued. However, any buying strength was limited due to the FOMC meeting and pending rate decision.

Most of our trades found strength in yesterdays session but not much can be taken away from that until after the rate hike.

Let’s go trade!

Continue ReadingMarket Report Sep 20 2022

Market Report Sep 16 2022

Market Report for Sep 16 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Thursday brought on more choppiness to weakness and has the S&P 500 testing the 3900 zone with the help of weakness from mega-cap stocks. The market did try to rebound early in the session but a bullish momentum was nowhere to be found.

We continue to watch and wait with a little less than half of the September slump remaining now.

Let’s go trade!

Continue ReadingMarket Report Sep 16 2022

Market Report Sep 15 2022

Market Report for Sep 15 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Halfway through the September slump and we are just chopping around. A choppy bullish session that ended with a decision candle but lacking conviction.

Mega-caps were leading the majority of stocks in the session with a slight pullback in Treasury yields.

We made no changes yesterday.

Let’s go trade!

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Market Report Sep 14 2022

Market Report for Sep 14 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

After CPI the Dow falls 1200 points to its worst day since June 2020. The rising Treasury yields also piled on pressure for stocks as the mega-caps directed the downside.

The path the Fed will take probably won’t change based on what stocks have been doing but the CPI data has the market worried about how the Fed will handle it. Add to this the Reuters report of possible

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Market Report Sep 13 2022

Market Report for Sep 13 2022

S&P 500 and Nasdaq Daily Charts

Stock Market Price And Percent Changes

Further to the weekend webinar and the end of last weeks sessions, we saw a carryover of momentum into the start of this week.

All the indices and sectors closed Monday on a positive note and all bar one of our stocks had a bullish day. Our newest purchase being our leader.

Today all eyes will be on the CPI data.

Let’s go trade!

Continue ReadingMarket Report Sep 13 2022

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