Today was more of a consolidation day for the market. I’d prefer that the SPX hangs onto 3,669, which it did (and hopefully does in the days ahead).
It would be nice if we saw the recent bottom become a tradable low from which we trend higher.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Today was more of a consolidation day for the market. I’d prefer that the SPX hangs onto 3,669, which it did (and hopefully does in the days ahead).
It would be nice if we saw the recent bottom become a tradable low from which we trend higher.
It’s that time of the quarter where we options swing traders need to be extra mindful of pending earnings releases. The last thing we want to do is place a directional bet in a stock or it’s options heading into a binary event that could decapitate us in a heartbeat.
This is frustrating us right now because most of the charts we like best (both the bullish and bearish ones) are in stocks with earnings slated to be released in the next week or two.
During our morning Analyst meeting today, we discussed the fact that many of the banking/financial sector stocks have already reported earnings by now, therefore, this is a place we should look.
Specifically, we like the big money center mega/multinational banks that are represented best by the $KBE ETF. Here is a chart that paints a pretty good picture of why we like it: [Read more…]
by David
From the Desk of Kimmy Sokoloff
I spoke in the live trading room yesterday about how $NFLX earnings, either good or bad, has not really affected the market recently.
The futures did bounce last night, but this morning we’re roughly flat.
by David
From the Desk of Kimmy Sokoloff
The market gapped up this morning and came back to fill yesterday’s high.
The market overall bounced off of that gap-fill and held steady until news came out on $AAPL late afternoon.
[Read more…]
by JC
The Dow Jones Industrial Average is working on its 3rd straight week of gains.
In case you missed it, you have to see the look on Maria Bartiromo’s face after I told her Friday that we’re 4 months into a new bull market.
Priceless.
I think she was into it though. Check out the full clip on Fox Business here: Mornings with Maria
This weekend I published a note about how underrated I find the Dow Jones Industrial Average to be among traders and investors.
The Dow is not something I want to fight. In fact, I was specifically taught not to.
Make sure to check out some of my favorite Dow stocks to own right now.
But today I want to focus on sentiment. More specifically, the extremes in bearish sentiment and overall pessimism. [Read more…]
by Louis Sykes
You hear it every day.
Are you bullish or bearish?
Like, what does that question even mean?
Which asset class are we talking about?
What time frame?
What sector?
It’s a question that only journalists should ask. People with skin in the game understand that strong opinions will always be weakly held when money is on the line.
Our opinion never matters. What does matter is how we adapt our approach as new evidence comes in that either corroborates or contradicts our initial thesis.
by David
From the Desk of Kimmy Sokoloff
That was a huge move overnight in the futures market. We’re currently trading above gap-fill on the SPX at 3,739.
Now, let’s see if we back and fill some.
by Ian Culley
From the Desk of Steve Strazza @Sstrazza.
Welcome to Under the Hood, where we’ll cover all the action for the week ending October 14, 2022. This report is published bi-weekly and rotated with The Minor Leaguers.
What we do here is analyze the most popular stocks during the week and find opportunities to either join in and ride these momentum names higher, or fade the crowd and bet against them.
We use a variety of sources to generate the list of most popular names.
There are so many new data sources available that all we need to do is organize and curate them in a way that shows us exactly what we want: a list of stocks that are seeing an unusual increase in investor interest.
Click here for a behind-the-scenes look at our process.
Whether we’re measuring increasing interest based on large institutional purchases, unusual options activity, or simply our proprietary lists of trending tickers, there’s a lot of overlap.