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Stock Market Today: February 25th - March 1st, 2019

Discussion in 'Stock Market Today' started by bigbear0083, Feb 22, 2019.

  1. bigbear0083

    bigbear0083 Content Manager
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    oh and i'm kinda late on bringing up this stat in here as well, but apparently today's gdp report brought the 2018 gdp average up to +3.1%, which means this is the first yearly print over 3% on gdp since 2005. the 13 year drought w/o a 3-handle was one of the longest streaks in u.s. history. not bad.
     
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  2. bigbear0083

    bigbear0083 Content Manager
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  3. bigbear0083

    bigbear0083 Content Manager
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    Good Friday morning to all. Welcome to March!

    Here is this morning's pre-market news thread for those of you wanting to get a quick read before today's open-
    [​IMG] <-- click there to read!

    Hope everyone has a great trading day ahead on this final trading day of the week.
     
  4. bigbear0083

    bigbear0083 Content Manager
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    Morning Lineup – Perfect Ten
    Mar 1, 2019

    The week looks to be ending on a positive note with US futures higher and the Nasdaq on pace for its 10th straight week of gains. In economic data, Personal Income and Spending both missed estimates, but the big report of the day will be ISM Manufacturing at 10 AM (consensus estimate- 55.8 vs 56.6 last month).

    As long as the Nasdaq doesn’t finish down five points or more today (it’s currently indicated up by 50), this will be the tenth straight positive week for the index. The last time that happened was nearly two decades ago in 1999! Below are all of the ten-week winning streaks for the Nasdaq as well as its performance following the tenth straight up week. Interestingly enough, of the eight prior ten week streaks, six went to eleven or more. As shown, the average performance the week after the 10th straight positive week was a gain of 1.07% (median: 1.58). Even more impressive is the fact that three months later the Nasdaq was up every time for an average gain of over 10%! Looking further out, six-month and one-year returns are a little more muted, but the only time the Nasdaq was down one year later was after the last streak in 1999 when it fell more than 36%!

    [​IMG]
     
  5. Steven_Burt

    Steven_Burt Well-Known Member

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    Another shot at the 2800 level spx today.
     
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  6. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    So far another rejection.... Like speed dating the same person.
     
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  7. bigbear0083

    bigbear0083 Content Manager
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    yet another failure at that 2800? lol

    let's see how this day finishes out, i 'd be very interested to see if we attempt to rally back to near HOD and finally notch that 2800 close.

    but would be hella ugly imo if we close around the LOD, especially after the way we opened so strong this morning.

    so far it's looking like a STFR (sell the fuckin' rip)

    :: popcorn ::
     
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  8. Steven_Burt

    Steven_Burt Well-Known Member

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    I am always just amazed how some indicators perform. We rolled over and headed straight for the ma(9) on the daily and bounced. A close below that and I believe we would see the ma(20) early next week (2756 ish).
     
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  9. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Steven_Burt and T0rm3nted like this.
  10. Steven_Burt

    Steven_Burt Well-Known Member

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    could be a good short entry if you think we fade into the close:
    spx_002.png
     
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  11. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    taking a run back at that 2800 level. Lets see if he gets rejected again.
     
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  12. Steven_Burt

    Steven_Burt Well-Known Member

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    LOL yeah that ripped my face off, tried it twice. The 2nd time cuz it was completely outside thee bb's at 2800.
     
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  13. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Yeah pretty nice bounce back for the market :eek: Let’s see if it will finally close above of 2800 this time :D

    Pretty interesting to see the dollar gaining strength today despite the relatively weak economic data this morning :eek: Gold and bonds selling off today
     
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  14. anotherdevilsadvocate

    anotherdevilsadvocate Well-Known Member

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    Walking the VIX back down, may be in the process of a slow grind up in SPX.
     
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  15. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    whew - just had a white knuckle of a ride today on JNUG. I bought some 3/8 10.50 puts this morning @ .48 - which almost immediately went as low as .29 and then rode the rally and just sold for a little over 50% gain @ .75. Too afraid to hold over the weekend - figured i'd lock in the profits.
     
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  16. AverageJoesTrades

    AverageJoesTrades Well-Known Member

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    I will be on the lookout next week for a JNUG bounce after this big sell off. Longer term trend is still up - will be buying into these dips.
     
  17. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Just a few minutes left, well on track to close above of 2800 :D
     
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  18. bigbear0083

    bigbear0083 Content Manager
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    haha it's 'bout time! :p

    now we see if we can get a couple closes over it in the coming weeks ahead :D

    and wow, the DJ30 just narrowly missed closing green for the week (closed down -0.02%) which would have tied the streak from 1995 at 10 weeks in a row :p

    however it looks like the nasdaq did make it to 10 in a row this week ... that's the longest weekly win streak for the nazzy since 1999.
     
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  19. bigbear0083

    bigbear0083 Content Manager
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    just stumbled across this one late this afternoon.

    year-over-year q4 gdp was up +3.1% in 2018. since 1980, the previous times that gdp was greater than +3% on y-o-y basis, the following year had the SPX green 13 of the past 14 times. hmm...

    [​IMG]
     
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  20. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    Pretty crazy streak :eek: What a start for the bulls in 2019 :p
     
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