DIS running in the leadup to their Disney+ announcement. NFLX with resistance at 380, it has not retaken that level in the last 2 earnings reports. It has just moved sideways all quarter. They report next week, so it will soon break one way or another. Eye on WDFC report this afternoon.
Well earnings season starts this Friday. Expectations are pretty low for Q1 I beleive, let’s see if those companies especially the banks could beat those lowered expectations
whelp, no 9 day winning streak for the spx today which would have made it the longest since '04 still tied the longest since '17 not too shabby
Cramer closed yesterday's show saying he could smell a chip downgrade coming. There was a story yesterday morning about someone in China wanting to eliminate Bitcoin mining. An amendment would need to be passed. We'll see what happens.
Interesting statistic I just came across this afternoon in my brief afternoon reads. I wasn't aware of this myself, but interestingly enough did you know that when the SPX does not close beneath its December low during the first quarter like this year has, the full year has gone on to be green a perfect 34 out of 34 times
Meanwhile, check this out. This isn't market-related but thought it was worth a quick mention in here. Gas prices nationally have risen for 57 consecutive days w/o a decline. That actually breaks the previous high of 54 back in '09 which was an all time record high. Crazy. @OldFart if you are out there reading this...I guess no road trips with the Hummer this summer for yours truly.
the small cap index (russ 2k) can't seem to make up its mind on that 200ma yesterday was the 7th time in a row that it has crossed the 200ma on a closing basis. worth noting that the most ever was 12 in row from back in 2012. not sure if we can glean much from that and try to interpret what the indecisiveness is telling though, but i did stumble across this chart too that shows in red dots the instances we've seen 7 or more trading days of the 200ma cross over back and forth in the russell 2k since 1978.
one last chart for y'alls (sorry for the chart blasting in here today ) the new cycle low in initial claims may be another thing that might support the bull case for new ATHs in the SPX at some point this year. claims and the SPX have essentially mirrored each other since bottoming following the financial crisis. here's the chart of claims (inverted, blue line) along with the SPX since '07. new SPX ATHs incoming?
Good Friday morning to all. Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open- <-- click there to read! Hope everyone has a good trading day ahead on this final trading day of the week.
