So, maybe 4450 might be the resistance level for bulls, in this latest collapse. But, I find it interesting that somehow 4600 has to been the key resistance for some time now. I'm not quite sure how to explain that.
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 a little under 3 hours from the cash market open. GLTA on this Tuesday, April the 26th, 2022.
Morning Lineup - 4/26/22 - Big Tech Steps Up to the Plate Tue, Apr 26, 2022 Yesterday’s reversal was a welcome reprieve for bulls, especially after the straight line lower from early last Thursday. From a technical perspective, there’s not much positive to say about the charts of the S&P 500 and the Nasdaq, but to provide an optimistic scenario, we would note that both indices appear to be showing some signs of a reverse head and shoulders. It’s going to take a lot more upside to make these formations look more convincing, and the pattern for the Nasdaq is much looser than the pattern for the S&P 500, but we thought it was worth highlighting. While the two largest US indices may, and we stress the word may, be showing early signs of a positive pattern, the semiconductors, which typically act as a leading indicator actually opened at their lowest level since Last May on Monday morning. That being said, like the broader market, the SOX did manage to turn things around finishing the day higher by just over 1.75% and outperforming the S&P 500 and the Nasdaq in the process.
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, April the 26th! https://www.reddit.com/r/StockMarket/comments/ucc9ey/426_tuesdays_premarket_stock_movers_news/ <- (click there to read!) (sorry running a little late this AM)
I agree -- watch their ER Thursday -- I suspect they'll reveal a big miss...$54 will be the board making out like bandits
Not surprisingly not too much green with my holdings except for my hedges like SARK, PSQ and SJB, etc. A lot of problems for the market for sure, QT starting soon, inflation is out of control and while the US economy is still doing well, the FED might need to hike rates enough to slow the economy down to bring down inflation. China is another wildcard, COVID cases are rising in Beijing and you never know if they will lock Beijing down like they do with Shanghai now
I'd really like to get back into puts on UNG -- tried all day today, but couldn't get in at a level I wanted. NatGas was +5% overnight, but by the morning bell most of that had faded.
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 a little over 3 hours from the cash market open. GLTA on this Wednesday, April the 27th, 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, April the 27th! https://www.reddit.com/r/StockMarket/comments/ud2gh3/427_wednesdays_premarket_news/ <- (click there to read!)
Morning Lineup - 4/27/22 - Happy Birthday Universe! Wed, Apr 27, 2022 6,999 years ago today, the Universe was born. At least that's according to German astronomer Johannes Kepler who came to that conclusion in the 1600s. Kepler's work has been 'revised' in the centuries since, and it is now widely agreed that he was off by at least 10 billion years. What's a few billion amongst friends, though? It just goes to show that facts that people take for granted in one environment can look foolish in another. Futures are looking to recoup some of yesterday's losses, but even at their best levels earlier this morning, we weren't even on pace to recoup half of Tuesday's losses. Let's just call it the 'two steps backward, one step forward market'. There's been a ton of earnings news since the close yesterday, and the pace will only intensify over the next two days. The only two economic reports on the economic calendar this morning are Wholesale Inventories which came in higher than expected (2.3% vs 1.5%), and at 10 AM we'll get the latest read on Pending Home Sales which are expected to show a decline of 1.0% In today's Morning Lineup, we recap overnight events in Asia and Europe (pg 4), take a look at the rising levels of volatility in the Nasdaq 100 (pg 4), and then highlight the dollar's rip higher in recent weeks (pg 5). While equities are facing further losses again today, the Nasdaq has already declined 8.3% over just the last five trading days. Relative to history, this move hasn't been extraordinary by any means, but it still hurts. Looking more recently at just the period since COVID first surfaced in early 2020, there have only been three other periods where the Nasdaq saw steeper declines in a five-day period. The first two were during the COVID crash while the third occurred in September 2020 right when the Nasdaq experienced a short-term peak. What's interesting to note about the current period is that ever since the start of 2022, we've started to see the intensity of five-day sell-offs start to increase.
Got into UNG puts finally, albeit a little higher than I wanted. SLV is getting very interesting as well, but for a bounce vs. pullback like I've been doing in the energy side. Looks like the next bounce may be here...let's see if they can hold it this time. The last intraday failed bounce was ugly!
Going for a green day today. Why? It'll just be red tomorrow again lol. @bigbear0083 called it, sell the rips.
Well looking pretty good for the social media stocks so far after the bell, both FB and PINS are up after earnings. PYPL is up too as of now, let's see if growth stocks will bounce back tomorrow
