Morning Lineup - 3/21/22 - Every Dog Has Its Day Mon, Mar 21, 2022 After a big rally last week, equity markets are heading into the week a bit groggy this morning as futures are indicated lower to kick off the week. As we note in the commentary of this morning's report, though, it's not unprecedented to see weakness following a strong rally into a triple witching options expiration. Oil prices are near $110 per barrel this morning as Russia-Ukraine tensions show no signs of abating. In fed-speak, there's a number of speakers on the calendar and the week kicked off with Atlanta Fed President Bostic who said he sees a total of six rate hikes for 2022 and another two in 2023. In what was a strong week for the equity market, it was clearly an example of every dog having its day as the worst-performing sector's YTD led the rally while Energy, the one sector that was up YTD heading into the week, finished in the red. Whether you want to call it a dash for trash or some other variation, sectors that had faced the most serious selling pressure had their shining moment of 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 first trading day of the new week, March the 21st! https://www.reddit.com/r/StockMarket/comments/tjbah7/321_mondays_premarket_stock_movers_news/
Whelp it got there for sure -- my first tranche is @ 5.66 Added a second tranche -- $5.57 basis now -- that'll do unless I see oil continue higher
I got back into DRIP at $2.66, just a starter for me, might add a little more if oil rallies hard again later this week
Powell says 'inflation is much too high' and the Fed will take 'necessary steps' to address (cnbc.com) Maybe the next hike is 0.5%
Today was not a good day..... down 2.3% The only moves I made today was adding HNST and WDH. Hoping we get a rebound tomorrow and carry that through the rest of the week. Wishful thinking. Hopefully we dont have another day like today. Might add to some positions on Friday depending on what things are looking like.
Top of the morning Stockaholics! Happy Tuesday to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrresh 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 Tuesday, March the 22nd, 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 Tuesday, March the 22nd! https://www.reddit.com/r/StockMarket/comments/tk1y9d/322_tuesdays_premarket_stock_movers_news/
Morning Lineup - 3/22/22 - At the End of the Day... Tue, Mar 22, 2022 Treasuries have continued to sell-off this morning following yesterday's trouncing in the wake of Powell's comments regarding the potential for a 50 bps rate hike at upcoming FOMC meetings. Equities, on the other hand, have seemingly ignored the higher rates and traded higher. In the commodity space, crude oil and gold are both essentially flat. In the Russia-Ukraine war, talks for a potential ceasefire have seemingly stalled as the Russians argue that Ukraine is dragging its heels, while Ukraine asserts that it will not cede any land to Russia. Zelensky has now even asked the pope to step in and mediate. As the talks stall, Russia hasn't let up with its military strikes even after reports suggest that its ground game has been faltering. The last week of trading has really seen some extraordinarily strong finishes for the market. The chart below shows the S&P 500's performance in the last hour of trading so far in 2022. For much of January and through February, the majority of days saw the equity market sell-off into the close. In fact, at one point in late January, the performance of the S&P 500 in the final hour of trading was the weakest since October 1987. Over the last five trading days, though, in the middle of a war in Europe where you would think concerns of overnight headline risk would be at their highest, we have seen five straight days where the S&P 500 has gained at least 0.33% in the last hour of trading. It may not be uncommon to see one or two days of similar gains in the last hour of trading, but to see five straight is extremely rare. In fact, to find the last time this happened, you have to go all the way back to July 2002! Talk about finishing off on a high note!
Small caps (IWM) have really lagged; they're up, but not like the rest. Finding resistance at the December low.
I added about 30% to my TQQQ and SPY positions 2 weeks ago. And I don't regret it. Still holding 30% cash.
Out $2.69, a little scared to hold this for too long lol, just take profits now and might get back in if oil rallies hard again
Yeah CIBR held the Feb 24 low (day the Ukraine invasion started). Just like the 4 major indexes (SPY, QQQ, DIA, IWM). I like that. But then SMH and the ARK funds did not, they went lower until March 14. It is kinda strange for SMH to be in the same boat as the ARK funds. Maybe an indication that they have another issue (eg China/Hong Kong?).
IWM has been a leading indicator thus far. By that I mean while the SPY and QQQ put in lower lows or double bottoms, the IWM did not...and when the broader market was up, the IWM was up comparatively more. But now it's not...could it still be a leading indicator, but to the downside now?
I was just looking at Mon/Tues data when I said that, trying to gauge this week's strength. Probably just a short term blip. You're right that IWM has been leading from the lows of January. SPY near a 0.618 retrace.
