Didn't realize this, but VIX did NOT hit 40 last year, so that is something rare. We got to 38.9 today.
My shorter term trading account turned from big red to slightly green to end the day lol. That was some crazy volatility Got in PENN at $38.31 and up over 10% from my entry lol. Added back some PSQ just before the closing bell as hedges.
What a comeback to avoid the 5 day losing streaks in SPX and NDX. After 3 straight days of closing on the lows, today we closed on the highs. Just a short skip away from retaking 200 day sma with a week left in January. High volatility leads to big moves.
The S&P 500, Nasdaq just staged a turnaround for the ages, marking their largest comebacks since the 2008 financial crisis (msn.com) Seems like it was the biggest intraday turnaround since 2008
Top of the morning Stockaholics! Happy Tuesday to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are about 4 hours from the cash market open. GLTA on this Tuesday, January the 25th, 2022.
Morning Lineup - 1/25/22 - Turnaround Tuesday (The Other Way) Tue, Jan 25, 2022 The rally was fun while it lasted, and after yesterday's impressive turnaround, futures on the major averages are all pointing to declines of more than 1% in early trading. After surges in volatility like the one we have seen in the last few days if you were expecting a quick return to calm, think again. Volatility is here to stay in the near future, especially with earnings season heating up, the FOMC meeting Wednesday, and oh yeah, major geopolitical tensions around the world. Today's economic calendar is on the light side with Consumer Confidence and the Richmond Fed report at 10 AM. Both reports are expected to show a slight pullback relative to last month's readings. Yesterday's volatility saw a surge in trading volume relative to levels of the last year. Volume in the S&P 500 tracking ETF (SPY) topped 252 million shares which was the highest level of daily volume since March 2020 right in the thick of the COVID crash. Going further back, though, there have been plenty of other periods where daily volume in SPY was much larger than yesterday's level. When adjusting for SPY's price, though, yesterday saw a near-record volume in terms of value traded. Based on the closing price yesterday, roughly $111 billion was traded in SPY yesterday. The only day where a higher value was traded was back in late February 2020 when the daily dollar volume topped $114 billion.
Forgot to post this earlier! Whoops lol. But anyway, here's the pre-market thread which is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading today and rest of this week! https://www.reddit.com/r/StockMarket/comments/scda8w/125_tuesdays_premarket_stock_movers_news/
Since yesterday went green, we probably have to go down today. Because "the market can't bottom on a Friday". It does often bottom on Tuesdays though. https://www.bespokepremium.com/think-big-blog/can-the-market-bottom-on-a-friday/
Top of the morning Stockaholics! Happy Fed Day to all of you! And welcome to the new trading day and a frrrrrrrrrrrrrrrrresh start! Here is a quick check on those futures as we are about 3 hours from the cash market open. GLTA on this Wednesday, January the 26th, 2022.
Also, just a super quick reminder in here for y'all's as I'm sure most are aware that we have the FOMC meeting announcement at 2pm eastern time, with JP's presser at 2:30pm eastern today.
Morning Lineup - 1/26/22 - All Eyes on the Fed Wed, Jan 26, 2022 It's not often that one of the top stories on the lead into a mainstream show like "The Today Show" is a Fed Meeting (don't ask us how we know), but that was the case this morning as market volatility has made its way into the mainstream zeitgeist. Futures are sharply higher this morning with S&P 500 futures trading up 1.5% and the Nasdaq up by over 2%. After dropping sharply immediately after it reported results last night, shares of Microsoft (MSFT) reversed course and are now up over 5%. The economic calendar is light today with Wholesale Inventories at 8:30 and New Home Sales at 10 AM, but the Fed will take center stage this afternoon with its 2 PM announcement and 2:30 Powell presser. It's been a volatile start to 2022 so far as the Nasdaq is currently on the pace for its 11th 1%+ daily move in 17 trading days so far this month. At a rate of just under 65%, this would rank as the most volatile month for the S&P 500 since March 2021 but is nowhere near the levels of volatility that were experienced during the COVID crash. While this month hasn't been nearly as volatile as early 2020, looking back all the way to the start of 2010, there have only been a handful of other months where the percentage of daily 1% moves for the Nasdaq in a given month was higher. Looking further back, though, investors have been relatively spoiled by the lack of volatility. During the Financial Crisis and before that, leading up to the peak of the dot-com bubble, the Nasdaq routinely experienced 1% daily moves during many months.
Pre-market thread is now up on Reddit for anyone looking for a quick read before today's cash market open. GL to y'all's trading today and rest of this week! https://www.reddit.com/r/StockMarket/comments/sd69bp/126_wednesdays_premarket_stock_movers_news/
The Dow is holding the market back right now. It still has not closed below Friday's close...in fact it still has not closed below December's low close. Still, aside from closes, the lows from Monday are still holding, as are the spikes in volume from that day too. Possibly shorts running out of ammo.
