Ok. Yesterday, I only managed to enter at 5430. But exited this morning at SPX 5500. Again, profit taking and risk management
funny, it took 356 trading days to get the first -2% day in the spx (which was the longest streak since going back to pre-GFC), and now we're potentially staring down at yet another -2% day today not even a few days in since that one? great to see volatility is finally back and that couldn't be more evident since the return of frankenstein to the boards
Yep lol seems like volatility is back, historically rate cut is actually bad for the stock market since it means something is wrong with the economy, maybe we will continue to see elevated volatility with the FED likely to cut rates soon
fairly orderly selloff in the majors for now, nothing that feels too panicky out there yet imho. i think once you see the indices start legging down -5% or greater starts to get interesting. we're still nowhere near any kind of market wide circuit breaker lol. i believe that comes in at -7% on the first level breaker. we haven't see anything like that since the covid crash. VIX near 30 definitely signals that we are in for some wild swings in both directions for now
just my worthless 2c here - this is a healthy pullback for now. the market is innocent until proven guilty. what i mean by that is, i don't think think this is a bull killer (yet) until things really start to deteriorate which they can, but they haven't reach those extremes yet. for now, a healthy dip which i'm sure we can all agree was hella overdue after a relentless run higher for most of this year without much meaningful dips.
Yeah I am not calling for a bear market just yet unless the economic data really begin to weaken very quickly from here, the ISM services data will be interesting next Monday, anything below 50 could really trigger the recession fears
The Nikkei has been getting hammered ever since the BOJ decided to hike rates earlier this week. Not sure how much the yen carry trade has impacted our market here but my guess is it contributed a least a little bit to the selloff this week.
here's a quick visual of the markets this past week as represented by the S&P500 to end another volatile week: (no surprises here that big tech is the big laggard out of the bunch this past week). here is the week, month, quarter and year to date performance of the major indices thus far: (it's worth noting that for as bad as these past few weeks have felt in the market, the SPX was only off about -2% this past week, and is off about the same for this quarter so far. for the year it is still up double figures!). i find this next chart pretty telling for anyone who might be panicking about this recent dip. the dj30 is not even off a full -4% off its ATH, and the SPX is off just under -6% from its ATH. yes, the nasdaq has entered "correction" territory off -10% but overall, not too terrible all things considered imo.. and finally here is the chart of the how the majors have performed since hitting their respective 52wk lows. (all of the majors are still up over +20% from those extreme lows.) case in point? i still view this as a healthy market pullback and nothing too serious (yet). can it get serious though? yes it sure can. but right now as of today's close, for as bad as everything might've felt in the markets, this was just a very overdue pullback in the market after the huge run higher imho. again just my worthless 2 pennies. have a great weekend everyone!
Has been one of the worst semiconductors stocks to own especially if you have seen names like NVDA and AVGO going up non stop
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In response to the USA data, Japan's benchmark Nikkei 225 dropped by over 12 percent, the biggest drop for the index since 1987.
Analysts expect the Federal Reserve to cut interest rates by 0.5% after the meeting concludes. In an unprecedented move, the U.S. Federal Reserve (Fed) has reportedly called for an emergency meeting today. This meeting aims to reassess interest rates as global markets experience severe downturns. Moreover, analysts expect a Fed rate cut by 50 basis points (bps) after the meeting.
BREAKING: Joe Biden’s senior economic advisor, Gene Sperling, has resigned after stocks tumbled around the world.
