WMT at ATH It has mostly lagged during the bull market but now it seems to benefit when investors are getting more defensive. I guess when inflation is high and you are looking to save some money then Walmart isn't such a bad choice
Top of the morning Stockaholics! Happy Thursday to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh 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 Thursday, April the 7th, 2022.
i never really follow any econ reports (expect maybe the monthly NFPs on the first friday of every new month) but just saw the headline for job claims at their 2nd lowest read on record. not too shabby i guess lol. here's the chart per ZH for the quick visuals for those lookin' round for it hah.
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 Thursday, April the 7th! https://www.reddit.com/r/StockMarket/comments/tybxje/47_thursdays_premarket_stock_movers_news/ <- (click there to read!)
Morning Lineup - 4/7/22 - Defensives Rise to the Top Thu, Apr 7, 2022 After two lousy days for the equity market, futures were attempting a bounce but have drifted back towards the unchanged level as treasury yields rise and oil prices bounce. Initial Jobless Claims were just released and they came in at 166K which was below the 200K consensus forecast and the lowest weekly reading since November 1968! Continuing Claims, however, surprised to the upside coming in at a level of 1.523 million versus forecasts for a level of 1.302 million. That's it for economic data today, but in terms of fed-speak, at 9 AM eastern we'll hear from Bullard, and then at 2 PM Bostic and Evans will be speaking. It's been a rough week for the broader market as the S&P 500 has declined more than 2.5% over the last five trading days (since 3/30 close). In looking at the performance of individual sectors over that span, performance has been about what you would expect in a tape with a more defensive tone. While cyclical sectors like Industrials, Consumer Discretionary, Technology, and Financials have been crushed with declines of more than 4%. Defensive sectors have actually bucked the trend. Utilities have actually risen more than 3%, Real Estate is up over 2%, Consumer Staples has risen 1.8%, and even Health Care is in the green. What's also notable about the current levels of sectors is that in spite of the weak tape, just three sectors closed below their 50-day moving averages yesterday, and six sectors are either at overbought or 'extreme' overbought levels. That fact says more about how much the market had rallied leading up to the last day of the quarter than it does about the magnitude of the recent declines. After gains like we saw in the back half of March, it is only natural to see the market take a pause or even pull back.
COST and TGT had a nice day Happy with COST doing well, it is my biggest holdings in my account that is used for longer term investing
Britain eyes nuclear, wind, fossil fuels in bid for energy security (cnbc.com) Nuclear getting some love, CCJ up pretty nicely today
If you think a 16% move in the QQQs over a 2-week period is an uninspiring, mundane market....then boy oh boy do I wanna go party with you! I can just see us now...."Hey @bigbear0083 -- hold my beer!"
Top of the morning Stockaholics! Happy Friday to all of you! And welcome to the final trading day of this week and a frrrrrrrrrrrrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are a little under 4 hours from the cash market open. GLTA on this Friday, April the 8th, 2022.
hah ye, it could just be that i've been super spoiled a bit since these larger moves in the majors have been of the "norm" nowadays if you will since we've seen quite a lot of them since the geopolitics crisis flare up this year. so i think i've just kinda gotten used to them lol. i think if we would have seen this price action sometime last year (as i did think much of last year's market action was super duper mundane with hardly much of any market volatility) then it would be a bit different i suppose. also, that ever since the covid correction in early 2020, we've all now witnessed "the worst ever" as far as market price action goes if you will. so now it's like, if anything does not even remotely come close to that seems very orderly and mundane to me lmao. but nah, i think you're right. 'tis been a nice move down fo 'sho. it's probably because i've been so largely MIA the past few weeks from the "day to day" action if you will, as i haven't put on any trade since the end of february. so i've been very much out of tune with the daily action tbh. hoping to get back to some more regular monitoring here again in H2 when we're into the thick of the summer season.
Morning Lineup 4/8/22 - Finishing Up a Down Week Fri, Apr 8, 2022 Equities are looking to finish off what has been a disappointing week on a positive note today, but unless futures build on their early gains during the trading day, the first full week of April looks like it's going to be a negative one for the S&P 500. For the Russell 2000, the week is already a lost cause as it's down close to 4%. The economic calendar is light this week with Wholesale Inventories the only release on the calendar. Looking ahead to next week, though, Monday will be quiet, but then in the final three trading days of the week (equity markets are closed on Friday), we'll get CPI, PPI, Retail Sales, and many other important reports. In addition to a busy week of economic data, next week will also mark the start of earnings season with the major banks kicking things off. Bombarded with the same headlines over and over again, it's easy to become numb to the moves we have seen in the treasury market and lose perspective. In the last five weeks, though, we've witnessed an 80 bps increase in the yield on the 10-year US Treasury which ranks as the largest increase during that span in more than 10 years! As shown in the chart below, going back to 1990, there have only been ten other periods where the yield on the 10-year rose 75 bps or more in a five-week span. So moves like this are pretty uncommon, and while we could have gone back further in the analysis, prior to 1990, the yield on the 10-year was consistently much higher, so a 75 bps move was a lot less dramatic. Even in the 1990s, when the 10-year yield averaged more than 6%, a move in the yield of the magnitude we have seen in the last five weeks would have been less dramatic than it has been off the low base of the current period.
Tech underpeforming again I think we will get the CPI number next week, hard to feel too bullish unless we begin to see inflation starting to ease, at this point it looks like we will see aggressive QT from the FED.
Gooooooooood Friday evening and a happy weekend ahead to y'all's. Another early edition of the market week ahead thread from me here tonight due to being enitrely away this coming weekend. Nevertheless, here is the market week ahead thread which is now up on Reddit for any of you looking for a quick read over this weekend: https://www.reddit.com/r/StockMarket/comments/tzft11/wall_street_week_ahead_for_the_trading_week/ <- (click there to open!) Next week's notable earnings calendar has to yet to be published, but I'll have this post edited just as soon as the calendars are out. Anyway, have yourself a wonderful weekend ahead everyone! And here's to another awesome trading. Get that moola! (Sidenote: US markets are closed on Friday, April 15th in observance of the Good Friday holiday. This also includes all of Globex btw. The reopen will be on Sunday at 6pm eastern time.)
btw, ima be taking a short break from all online activities effective pronto. unfortunately my old man is down with a really bad case of the cold (or possibly the Flu, but thankfully no covid looks like from the home tests we got earlier today). anyway, hard to believe easter sunday is just a stone's throw away (next sunday!). year is really rippin' on by a crazy rapid pace (or a least that is how it has felt for me lol). remember that US equity market on a holiday-shortened trading week next week due to the good friday holiday. this also includes all of globex. meaning, when futures close at 5pm eastern on thursday, they won't be back online until the usual sunday 6pm eastern open. enjoy the long weekend and all that jazz and catch y'all's hopefully the week after. happy early easter to y'all's if i didn't get a chance to say it before then!
Prayers sent for your old man & your family. If father is like son, we all know he is a bear of a fighter!
Of course, we don't know what actually may happen during the cash market, but ES is showing 4456 Sunday night here. So, hopefully, a nice collapse this week for another long entry--when appropriate. I certainly didn't want to be long on Friday and over the weekend--I felt SPX at 4510 was sufficient for profit taking and risk management
