Happy New Year everyone Overall 2018 was a pretty exciting year, we haven't seen volatility like this after several years of easy money provided by global central banks Hopefully 2019 will be as exciting as well
ANF nearing breakout from downtrend. Average move is 5%, rather low beta considering how strongly the market has been downtrending lately. Yield ~4%.
HNY all Long way to go but so far a very impressive turnaround for this market Looks like some beaten down sectors and stocks from last year are actually outperforming today. Worst performing stocks from last year tend to get bought at the beginning of January
Slowdown in China had us negative all overnight. Now a low volume rally into green today. Here's some China news that's been out 6 hours, so doesn't seem to have any effect on the prices today: https://www.cnbc.com/2019/01/02/us-...to-get-meaningful-concessions-from-china.html Robert Lighthizer has reportedly told friends and associates he is intent on preventing Trump from accepting “empty promises” like temporary increases in soybean purchases. In order to avoid this, the U.S. may have to slap tariffs on more Chinese goods, Lighthizer has said, according to The New York Times. In the VIX pattern I'm looking at, it should bottom tomorrow.
Yeah the PMI in China was bad last night too and I am a little surprised that we have such a big intraday turnaround
A couple Chinese stocks among the biggest losers today (UXIN -19%, BITA -17.5%). Hang Seng Index down ~3%. See if that carries over to US tomorrow.
Very nice day for the dollar. Interestingly gold is actually holding up pretty well today despite the strong dollar
Apple warns on Q1 results https://www.cnbc.com/2019/01/02/apple-warns-on-q1-results.html SPY down 0.46% and QQQ down 1.34% as of now AH
Good Thursday morning to all! Here is the pre-market thread for those of you wanting a quick market read before today's open- <-- click there to read! Hope everyone a great trading day ahead!
