From the Desk of Kimmy Sokoloff
The market is jittery this morning as we await more economic data, more importantly inflation data.
In January, Fridays were very strong. In February, Fridays have overall traded higher but very lackluster.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The market is jittery this morning as we await more economic data, more importantly inflation data.
In January, Fridays were very strong. In February, Fridays have overall traded higher but very lackluster.
by JC
Wall Street analysts keep raising their estimates.
This, of course, is happening as the prices of these stocks keep on going up.
This is classic behavior for bull markets.
You can see the revisions trend rising as the price of the S&P500 keeps heading higher: [Read more…]
by Ian Culley
From the Desk of Ian Culley
Rates continue to rise along with concerns of an impending recession.
The narrative is quickly shifting back to tighter monetary policy following last week’s higher-than-anticipated CPI and strong economic data. I don’t pay too much attention to this gossip. But I do keep a pulse on the latest discourse surrounding markets.
With these newfound recessionary fears circulating, I want to share a chart I like to avoid… The 2s10s treasury spread.
It sounds so simple.
To win at trading means to take profits.
If there are no profits taken, there is no winning. And if there is no winning, then what am I even doing here?
Subscribers to the various options education services we provide at All Star Charts know that I’m usually very clear about where I’ll take profits in the various trades I put on. Most trades have a profit target and I set the GTC limit orders out in the market and let them get hit. I’m hands-off. Unemotional.
So it would seem that I’m pretty automatic about this practice of profit-taking in all realms of the market in which I engage.
You might be surprised that this hasn’t been true in my personal index options trading. [Read more…]
by David
From the Desk of Kimmy Sokoloff
This morning the market popped.
Then it faded most of the day until about 1:00 p.m. ET, when the rally started, right off of support.
$SPY dipped below 396.76, and then it bounced from there.
by Ian Culley
It’s the weekly currency edition of What the FICC?
It’s victory at sea across currency markets. But it’s not stopping the US dollar from cutting through the chop…
Check it out!
by Louis Sykes
The most underrated element of technical analysis has to be relative strength.
It’s impossible to outperform your benchmark if you own assets that are underperforming.
Much of this work is grounded in the overarching notion that asset prices trend while volatility mean-reverts.
But humans behave as if it’s the opposite.
Relative strength is merely denominating prices in a different asset than the native currency. Like price trends, relative strength also exhibits a tendency to trend, rather than mean-revert.
So, what does that mean?
by David
From the Desk of Kimmy Sokoloff
As I write this note, the only reason the market is up is because of $NVDA’s earnings.
We have GDP today, and that might change the tune. Hopefully, we continue to hold $SPY 400.