Top of the morning Stockaholics! Happy Tuesday to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are just under 4 hours from the cash market open. GLTA on this Tuesday, March the 29th, 2022.
The pre-market thread is now up on the r/StockMarket subreddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Tuesday, March the 29th! https://www.reddit.com/r/StockMarket/comments/tqy7bc/329_tuesdays_premarket_stock_movers_news/ <- (click there to open!)
Morning Lineup - 3/29/22 - Apple's (AAPL) "X"-Day Winning Streak Tue, Mar 29, 2022 When our alarms went off this morning, futures were indicating a mixed to positive open, but that tone has moved firmly to the side of gains following reports of progress being made in the Russia-Ukraine ceasefire talks. The Ukrainian side believes that enough progress has been made to warrant a meeting between Putin and Zelenskyy, while the Russian side has said that talks have become constructive. We've seen positive headlines like this in the past only to get walked back in the hours following, but given the heavy losses Russian troops have sustained, there is a stronger feeling that Russia has become increasingly eager for a way out of the war. However things ultimately play out, the market has responded with equities moving higher, and both gold and oil dropping. Price may rarely be the most important thing, but shares of Apple (AAPL) are in the middle of an impressive winning streak with ten straight days of gains. Since the launch of the iPod in late 2001, the current streak ranks as just the fourth time that AAPL's stock has rallied for ten or more days, and it's the first such streak since July 2010. Of the three prior double-digit winning streaks, the only one that lasted more than ten days was back in 2003. The chart below shows the performance of AAPL since the start of 2002, and we have included red dots to show each prior time that AAPL was up for ten or more days. Looking at where the prior streaks occurred relative to AAPL's price trend, one occurred early in an uptrend, one was followed by a short-term pullback, and the other was right in the middle of an uptrend. So, while the winning streak for AAPL is great for shareholders, it appears to say little about the future performance of AAPL's stock. One item we found interesting, though, is that even after the current ten-day run of gains, the current streak is the first of the four that AAPL's trailing three-month performance was negative (-2.1%). On the 10th straight day of gains in the prior streaks, AAPL's trailing three-month returns were 29.3% (2003), 48.8% (2004), and 27.3% (2010).
btw, not my own chart here but thought worth a quick share here. this is something i had quickly stumbled across on my brief twitter reads this afternoon. this could possibly be viewed as some encouraging news for those banking on even more bully activity in the market ahead. but, aside from 2012, the month of april has ended in the green every single time in the spx since dating back 2006. for those keeping score at home, that's one red april in the past 16 years at least haha. that being said, i feel like markets been pricing in basically the best possible outcomes/news at this point...still thinking it's a bit of a stretch/reach for a new ATH print. but we shall see. pretty resilient markets no matter how you slice it, as it's had everything but the kitchen sink thrown at it these first 3 months of this year lol.
here's something i like to look at every so often. i have a google sheet up that tracks the majors pullback levels from its 52wk highs (in this case being the ATHs of course). incredibly at today's close cash now sits less than 4% away from its ATH (intraday) prints. the other majors still a country mile away from theirs. but a heck of a run it has been over these past few weeks.
Almost like the correction didn't happen for the SPX and the DOW if you didn't pay attention to market in January/February
Top of the morning Stockaholics! Happy Hump Day to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are just under 6 hours from the cash market open. GLTA on this Wednesday, March the 30th, 2022.
The pre-market thread is now up on the r/StockMarket subreddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Wednesday, March the 30th! https://www.reddit.com/r/StockMarket/comments/ts5ahw/330_wednesdays_premarket_stock_movers_news/ <- (click there to open!)
Getting a pullback today to stop the SPX green streak at 4 days. Still looking for a little more upside after this pullback.
Oil prices tumble more than $5 a barrel as Biden weighs massive reserves release (yahoo.com) Crude prices tumbling on the news
Top of the morning Stockaholics! Happy Thursday to all of you! And welcome to the new final trading day of March and Q1! Here is a quick check on those futures as we are just under 4 hours from the cash market open. GLTA on this Thursday, March the 31st, 2022.
Morning Lineup - 3/31/22 - Au Revoir Thu, Mar 31, 2022 133 years ago today, the Eiffel Tower, one of the most iconic landmarks in the world today opened for business. It may sound hard to believe, but when the tower first opened a number of critics thought it would be an eyesore on the Paris landscape, and twenty years after it opened the Eiffel Tower was almost demolished when the lease on the land it stood on expired. The main reason it was spared was because of its utility as a radio antenna! More than 100 years later, the mere thought of Paris without the Eiffel tower would be considered a sacrilege. Just like in the stock market and everything else in life, one person’s (or generation’s) trash is another one’s treasure. In markets this morning, investors want nothing to do with oil as WTI is trading down more than 5% on reports of a massive stockpile release from the US Strategic Petroleum Reserve (SPR). For more on this and how the SPR works, make sure to check out our explanation in today's Morning Lineup. The weakness in futures has equity futures up modestly, but it's the last day of the quarter, so expect to see a decent amount of volatility throughout the trading day. In economic news, we just got a slug of economic data this morning, and there weren't that many major outliers. Perhaps the biggest outlier was Personal Spending which rose 0.2% versus forecasts for an increase of 0.5%. There's still a day left in the quarter, and despite the strong rally in the last couple of weeks, for the majority of stocks and sectors, it has been a quarter to forget. On a year-to-date basis, Energy is the clear leader with a gain of more than 40%, but over the last week, both Utilities and Financials have moved into positive territory for the year. At the other end of the spectrum, Communications Services, Consumer Discretionary, Technology, and Real Estate are all still looking at losses of more than 5%. Not great, but it could have been a lot worse were it not for the 3.5%+ gains in the last week. While the vast majority of sectors are looking at YTD declines to close out Q1, they're also trading at short-term overbought levels. All eleven sectors are currently above their 50-DMAs, and all but Financials and Communication Services are also 'overbought' (at least one standard deviation above their 50-DMA.
The pre-market thread is now up on the r/StockMarket subreddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading on this Thursday, March the 31st! https://www.reddit.com/r/StockMarket/comments/tsyjbk/331_thursdays_premarket_stock_movers_news/ <- (click there to open!)
Can't catch them all like you said, might get another opportunity for SCO later on if the war isn't ending soon.
Top of the morning Stockaholics! Happy Friday to all of you! And welcome to the first trading day of April and Q2 and a frrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are 2 hours from the cash market open. GLTA on this Friday, April the 1st, 2022.
Morning Lineup - 4/1/22 - Clean Slate Fri, Apr 1, 2022 It's a new quarter today, but markets will get right into it today with a good deal of economic data. For starters, we get the March employment report at 8:30 eastern, and then at 10 AM, we'll get Construction Spending and the ISM Manufacturing report. While payrolls are expected to show a modest decline, ISM Manufacturing is expected to see a modest bounce. With the employment report, though, the devil will be in the details. In Europe, equities are trading higher following what has generally been weak manufacturing PMI data in the region. Interest rates are moving higher on the day while crude oil has dropped below $100 per barrel. After a plunge into the close yesterday, futures are looking to claw back those losses in early trading, but even at current levels, we're only basically back to where we were a half-hour before yesterday's close. April may bring showers in terms of the weather, but historically it has been one of the greener months of the year. Over the last 100 years, the Dow's average gain of 1.46% with positive returns 62% of the time ranks as the third-best of any month behind July (1.65%) and December (1.52%). In the last 50 years, the 68% frequency of positive returns hasn't been the most consistent, but the 2.21% average gain is easily the highest of any month. Likewise, the average gain of 2.21% in the last 20 years has also been the strongest of any month. Not only that, but with just three down Aprils over the last 20 years, no other month during this period has been more consistent to the upside.
