Market Report May 27 2022

Market Report for May 27 2022

S&P 500 and Nasdaq

Indices

Comments:
A fairly healthy broad-based session where the bulls seemed to be the majority and have control for Thursday. So far our analysis at the weekend to not short the market has worked out very well.

Most of the session was bullish and all of our trades except one ended the session positive.

As it is the last trading day of the week, we cans and aside and watch

Continue ReadingMarket Report May 27 2022

Market Report May 25 2022

Market Report for May 25 2022

S&P 500 and Nasdaq

Indices

Comments:
Monday welcomed the week with a tone of happiness but any joyful feeling was wiped off the market on Tuesday with weakness in mega-cap stocks based on continued concerns of economic slowdown and possibly growth in earnings for this year.

The chart below shows the hesitant and non-directional day for the S&P 500 and Nasdaq Composite, although the Dow Jones Industrial Average did manage to close the session

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Market Report May 24 2022

Market Report for May 24 2022

S&P 500 and Nasdaq

Indices

Comments:
Monday’s momentum managed to lift the market up and while it is offering a glimmer of hope for the turnaround, it is still too early to say any momentum to the upside can be sustained. So we should continue to assume the market is bearish until there is more evidence it is not.

There was broad-based interest in the bullish move yesterday with many stocks getting n on

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Market Report May 20 2022

Market Report for May 20 2022

S&P and Nasdaq price action

Price and volume

Analysis:
Thursday was another choppy session that had risk sentiment surrounding it with a slightly heavier than average volume. However, unlike the day before, a few sectors saw some strength.

With the re-opening, many retailers have not managed to cope well in earnings and many have issued disappointing guidance. It seems the good news from this round of earnings s that it is coming towards the end.

For Friday,

Continue ReadingMarket Report May 20 2022

Market Report May 19 2022

Market Report for May 19 2022

S&P and Nasdaq

Market change

Comments:
Wednesday was an important day for our assessment which had a heavy sell-off session. Price for the main markets are still between a resistance and support level but certainly very much bearish.

Intraday market

Each of the major indices dropped at least 3.5% amid the inflation concerns. All sectors ended the day in the red and did most stocks.

We are still mainly standing aside holding cash and watching but

Continue ReadingMarket Report May 19 2022

Market Report May 18 2022

Market Report for May 18 2022

S&P and Nasdaq

Market change

Comments:
While we are not trading this market, we are certainly watching it. The premarket for Tuesday was bullish and while intraday we saw some weakness on the 1-minute chart below, we did close positive for the session.

Intraday market

All sectors bathed with the bulls except for Consumer Staples which closed -0.69%.

The S&P has resistance at 4.114.65 and Nasdaq at 12555.35. A break above these levels and we could

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Market Report May 17 2022

Market Report for May 17 2022

Stock market

Market trends

Comments:
Large growth stocks hindered the follow-through from the end of last weeks glimmer of strength.

While we are more likely to enter the market in the coming week, having stood on the sidelines for the last few weeks, we are waiting for the market to provide an indication of inention.

For now, we are waiting and watching but ready to pounce.

Intraday market

Let’s go trade!

Continue ReadingMarket Report May 17 2022

Our trading stance

Right now we are standing aside and waiting for the market to show its hand.

S&P 500 and Nasdaq Composite

We have already reduced our portfolio size since November in anticipation of a drawdown in this market. Should price action turn into a full-blown bear market, we are ready to enter shorts if necessary.

Wait and watch.

Let’s go trade!

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Market Report May 13 2022

Market Report for May 13 2022

S&P and Nasdaq

 

Market Trend:
Market trend

Comments:
As you can see from the S&P chart below, it was another swinging trading session saw a volatile day end slightly positive for the Nasdaq, almost flat for the S&P and negative for the Dow Jones.

Once again, not a market we want to be involved in and we should continue to stand aside while enjoying this volatility.

S&P baseline

Let’s go trade!

Continue ReadingMarket Report May 13 2022

Market Report May 12 2022

Market Report for May 12 2022

S&P 500 and Nasdaq

Market Trend:
Market trend

Yields:
2-yr: +1 bp to 2.64%
3-yr: -1 bp to 2.82%
5-yr: -4 bps to 2.88%
10-yr: -7 bps to 2.92%
30-yr: -9 bps to 3.04%

Comments:
Wednesday was yet another busy day on the markets with the biggest swing so far this week. Lots of volume and lots of volatility.

Trend traders can stand aside and watch while the market crushes traders who have not taken

Continue ReadingMarket Report May 12 2022

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