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Discussion in 'Stock Market Today' started by T0rm3nted, Feb 8, 2021.

  1. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Healthcare sold off pretty hard today, stocks like MRK, JNJ and BMY, etc. have outperformed when other sectors were selling off but all of them were down big today :eek:
     
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  2. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    BBBY with a brutal ER this morning. They're up +25%, possibly looking at bankruptcy.
    Another retailer also facing bankruptcy, PRTY is up +90% today. They have $2 billion sales yearly, yet the market cap is less than $50 million.

    Probably too late for me to declare bankruptcy myself.
     
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  3. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Powell didn't move the market much today, let's see if we will see some volatility on Thursday after the CPI :D
     
  4. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Looks like a good time for a pullback, hourly RSI is oversold as well as the McClellan oscillator.
    Major indices finding resistance at Monday's high.
     
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  5. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Market keeps holding up. SPY and IWM (small caps) right at 200-day moving average as we head into tomorrow's CPI.
     
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  6. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Airline stocks going crazy lately :eek:
     
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  7. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    It's funny because all the news has been bad for them lately.

    Banks looking weak, relative to the general market. ERs tomorrow morning. That may finally slow the market down.

    Meant to say "overbought". Just goes to show, overbought does not mean the uptrend is over.
     
  8. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    SPY at the well-known resistance line.
    [​IMG]
     
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  9. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    A pretty good start for the bulls so far :eek: Let's see if the market can keep it going after a long weekend :eek:
     
  10. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    This line works even better in logarithmic scale
    [​IMG]
    That could go as high as $405 in SPY.

    See you all on Tuesday.
     
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  11. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Market slightly in the red here, the rally pausing a little bit here is not surprising after a pretty big run for the market to start the year.
     
  12. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    The PPI was good this morning but the retail sales was weak, looks like the market is focusing on the weak retail sales more today and the recession fears are back :eek:
     
  13. T0rm3nted

    T0rm3nted Moderator
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    Crazy rally today. Recovered most of this weeks losses. Back to resuming the generational rally next week?
     
  14. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    I don't trust the rally to go for 2 days right now. Oscillators were very overbought coming into this week. SPY and QQQ still need to overcome downtrend lines.

    [​IMG]

    [​IMG]
     
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  15. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    NFLX yesterday after hours traded 313 to 345.64 in just 5 minutes. It is still in that range today.
     
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  16. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Should we buy TARK? +30% so far this year.
     
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  17. T0rm3nted

    T0rm3nted Moderator
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    Not recommended haha. I don't necessarily trust the rally, but at the same time, it's not out of the question that this retests $400 next week then $408 the following week.

    upload_2023-1-20_16-4-23.png
     
  18. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Touched 4050 /ES. Peeked above the downtrend lines in SPY and QQQ.
    See how the week goes from here.
     
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  19. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Nice start to kick off the Year of the Rabbit :eek: Semiconductors red hot today
     
  20. andyvds

    andyvds Active Member

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    tech is back.
     

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