Yeah I am pretty bullish on lithium in a long run since EV will continue to grow. Might be the China retaliation plays a part, my guess is the market just thinking the demand for EV might be weaker in 2023 if we will finally see a recession that people have talked about since last year. Tesla cutting prices might be the signs that demand isn't that strong at this moment.
Should be a busy week ahead with Europe back in action after the Easter holidays while we will get the inflation data, the retail sales data and the banks earnings later this week
With the way we finished today, my opinion is we'll dip tomorrow, at least at the start. See if /NQ holds 13,000.
The McClellan Summation Index worked off a lot of overbought condition for 2 whole months. Things got on the brink of disaster there. The market can be bearish when it reads below 0, and we had a spike to -400. But we're back above 0 now. Lots of room to get to +1000. We have a setup for this coming earnings season to be a very strong one.
/NQ dipped to 12,975 but has bounced back above 13k, holding the low of the week. The tech index is lagging the other majors.
Yeah I was thinking tech will pull back some after a huge Q1, it has underperformed to start Q2 even we didn't see any significant uptick for bond yields
Walmart warehouse automation powers higher profits (cnbc.com) Walmart plans to add that same automation from Symbotic — a warehouse technology company that Walmart took a minority stake in last year — to all of its 42 regional distribution centers, though it didn’t share a timetable for doing so. By the end of January, roughly a third of stores will get distribution from the automated facilities, the company said. SYM stock (Symbotic) has been doing very well lately
Just a sideways week, except for gold/silver. Good news for the bulls is it looks like QQQ will end its losing streak before it gets to 4 days.
/ES is back at the high it hit yesterday morning after the CPI number but before the market opened. Was downhill from there. Right now we're at the top of the week's trading range, with bank earnings coming tomorrow morning. Looks like we should dip down from here.
Personally, I had a short in TRUP from last week. It got closed this morning by my broker. The funny thing is they closed it in pre-market, and it just so happened to go straight down all day during regular hours, -13%. I got closed at the day's high price of $41.56. Just did a chat session with the broker. And I see now that they making me close at $37.38 instead, that's some form of relief. Going to just move on, it's not like I was short a thousand shares lol. Not in this bull market
Merck inks $11B Prometheus buyout to rival Roivant in IBD race (fiercebiotech.com) Guessing this news is pushing biotech higher today
Hmm are we officially in a bull market? I can never remember the canonical definition. It gives me a chuckle that there is anything officially official in the stock market. I'm always on the lookout for stocks to short, but I'm not going very hard in that direction right now. Kinda feel like Carter's kids clothes has a dismal future since people are having fewer kids. As for my view of the general stock market: I think we make a new ATH before the recession, but not much higher. And if we don't go much higher, then essentially we've been going sideways since 2021...like the top before a big decline, once the recession really hits. But I think we're safe for 2023.
Overall I am still bearish to be honest, I would be pretty surprised if we can really push inflation down without a recession or with just a minor recession. You might be right though, we are safe for 2023 before things get ugly in 2024
Nasdaq 100 Enters Bull Market as Bank Jitters Ease, Tech Rallies Tech-heavy index rises 20% from its Dec. 28 closing low https://www.bloomberg.com/news/arti...bull-market-as-bank-jitters-ease-tech-rallies The NASDAQ 100 is in the bull market now it seems like
The Dow, the laggard of the major indices, found support at yesterday's low. Other major indices, so far led by small caps and semiconductors, gapped up and have backfilled the gap this morning.
