Economic data came out this morning, which, in reality, wasn’t bad. But the S&P 500 dropped 3% at its low.
As I mentioned this morning, to me the issue is oil up, bonds down posing the biggest risk to the overall market.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
Economic data came out this morning, which, in reality, wasn’t bad. But the S&P 500 dropped 3% at its low.
As I mentioned this morning, to me the issue is oil up, bonds down posing the biggest risk to the overall market.
by David
From the Desk of Willie Delwiche.
Apple Floats, Small-Caps Skid
The Chart:
Many areas of the stock market have undercut their June lows. The largest company (Apple) and an ETF of small-cap stocks (IWM) stand out as exceptions. When we look over 3+ years (rather than just 3+ months) we see that small stocks are back to pre-COVID levels, while Apple has been consolidating its gains.
Why It Matters:
The post-COVID speculative bubble in small-caps has been unwound. For Apple, the work seems hardly to have begun. Apple’s resiliency could become a liability if stocks take another leg lower and investors look again for safe havens to sell. As it stands now, Apple is larger than 5 entire sectors in the S&P 500. Bear markets don’t usually leave anything unscathed.
by David
This is the video recording of our October 7, 2022, All Star Charts Crypto Weekly Strategy Session.
by David
From the Desk of Kimmy Sokoloff
That was a wild move yesterday. Almost everything reversed lower.
I’d like to think this is simply just a healthy consolidation before a potential move higher for the indices.
by David
It’s another short one today.
However, we do have some founder activity in the recreational vehicle manufacturer Thor Industries $THO. [Read more…]
by David
From the Desk of Kimmy Sokoloff
So, we had a decent consolidation day.
We just have to make sure this market hangs on.
by David
From the Desk of Kimmy Sokoloff
Yesterday, the market had a nice comeback from the morning lows. This morning, the futures are pulling in some, and, to me, this is still healthy.
Hopefully, we can trend higher or sideways throughout the day.
by David
Now that there’s some clarity around the Twitter $TWTR/Elon Musk deal, the focus is shifting to how exactly it will get done.
Today’s reports claim that Apollo, Sixth Street, and others have ended conversations with Musk’s team to provide debt financing.
As it turns out, $44 billion is a lot of money, even for the richest man in the world…