On a more meaningful note, I'd like to see the SPX at around 3880 for a long entry. If it had not collapsed to 3930 this morning, I'd think that a long entry around 3940 or 3950 would have been sound, but because of what happened this morning, that's a problematic long entry area. Could miss out, but the risk vs. reward is suspect.
10-year rate with a pretty big reversal today, dipping just below 4%. Watching that 4% level. Can also see TLT with a big reversal right at the December low, up +2% today.
Inverse Cramer Tracker and Long Cramer Tracker ETFs Launch on CBOE (SJIM & LJIM) (yahoo.com) Looks like there are some trading volumes for SJIM (Inverse Cramer), not so much for LJIM (Long Cramer) though
Fed's Bostic says he's firmly in quarter-point rate rise camp - MarketWatch Yeah looks like the comments from Bostic sparking the rally in Treasury (he is in favor of a 25 bps hike rather than 50 bps), a hot jobs report next week could easily lead yields higher again though, we will see
Well the market moving down after Powell on fears of rates will stay higher for longer due to inflation. Some key data will be coming up in the next few days or so including the jobs report this Friday and the inflation data next week
Need to raise it a full point at a time until we hit 10%. The free money is gone and since 2009 it's been nothing but a disaster. Drop the circuit breakers, let the market crash and the weak ones collapse and get out of the way. The market will sort itself out. If any of you were adults in the 70s and 80s you can relate.
so not sure about the rest of y'all's but this to me has been one of the most directionless markets i have seen in a while (maybe ever tbh). point being - if we don't break out of this range (we'll call it 4200-ish on the upside, and 3600-ish on the downside) by around may (another 2 months) then we'll have been trading in this sideways range for a full calendar year's length. that's pretty extended by most measures. part of the reason why i've been kinda MIA from the daily market watch, and from here too has been a lack of a clear trend in the market up or down. i'm thinking we'll eventually see this resolve itself in one direction or another at some point. but holy rangebound market batman! that isn't to say that the entire market has been rangebound. sure, there have been some nice movers in some of the individual names and sectors. i'm moreso talking about the spuz (/es s&p 500 futures) when i speak of the broad market. it's been hella choppy for a long while now. a bit far too uninspiring for me tbh but to each their own. though now that i think about it, could this just be a symptom of having expirenced one of the highest volatile market years like we saw last year and during COVID? i'm almost hesitant to say that this is just me being super spoiled from the huge swings that we saw basically all of last year. that's admittedly not typically how the market moves most years. most years are kinda like 2017-ish...trending market up for the full year with relatively lower volatility and smaller trading ranges. i guess after having gone through the COVID smash of 2020, and last year, years like this year makes it feel extraordinarily uninspiring for me now haha. not sure if any others also feel the same way? anyway, i hope all of you have been doing great! it has been a minute. i'm kinda just waiting to see if an actual "trend" will emerge from this choppy/rangebound action that we have seen for a while now
It's a feature of SPY gaining +50% in a 12-month period, since 1980. 1983 was flat for 20 months!: 1997 and 1998: 2010: And now we've been flat since at least April '22. If you look at the Dow, you could say we've been flat since January '22. I'm getting this from https://twitter.com/ukarlewitz/status/1373813347854950401 Nah, you're not spoiled. Truthfully, VIX hasn't hit 40 in 2 years is a really crazy thing.
Financials taking a beating today. Small caps are really lagging. Biotechs (XBI) testing the 200 sma. Clean energy (ICLN) is below the 200 sma and just had a death cross...after just having a golden cross...after just having a death cross...
You guys were not kidding. I got curious and looked at the banks referenced above. They are getting pounded....the whole sector is actually getting spanked.
Yeah SIVB is a little different from other banks, they do a lot of businesses with the startups, one of the rare bank stocks that don't pay dividends too. Startup Banking | Silicon Valley Bank (svb.com) SVB is fundamentally different than other banks. While we offer modern banking products designed for tech, life science and healthcare founders, that’s just the start. Our team of 100 startup banking experts can help you maneuver the fundraising maze, connect with investors, and provide candid advice on how to increase the probability of your success. Founder-focused. Digitally forward. Human-to-human. We’re the bank of you.
Yeah even big names like JPM and BAC are down huge Banks Tumble as SVB Ignites Broader Fears About the Sector (usnews.com) The second biggest decliner in the S&P 500 index was another San Francisco-based bank, First Republic, which was off 14.1% after hitting its lowest level since October 2020. Also Zion Bancorp, down 8.2%. The KBW regional bank index was down 6.0% after hitting its lowest point since January 2021. "The Silicon Valley raise got everybody nervous about people's capital levels and what deposits are doing. A lot of institutional investors don't feel great about owning certain banks right now," said R.J. Grant, head of trading at Keefe, Bruyette & Woods in New York. "It just gets people freaked out because Silicon Valley, historically has been a very strong, well-run bank. If they're having issues right now, people are wondering what about other banks that are lesser quality and that don't have the reputation that Silicon Valley Bank has."
Bond yields, the dollar, the stock market and the bank stocks are all down today, an interesting day for sure
re: the banks SI (Silvergate bank) said they were going to liquidate. They were deep in crypto (went from $10 to $200 in a year and a half). Does SIVB have anything to do with crypto too, or just startup-focused?
