The market took a breather today. $SPY hit 400 and backed off again.
We broke below the 200-day moving average and the eight-day moving average at 393.10.
Expert technical analysis of financial markets by JC Parets
by David
From the Desk of Kimmy Sokoloff
The market took a breather today. $SPY hit 400 and backed off again.
We broke below the 200-day moving average and the eight-day moving average at 393.10.
by David
This is the video recording of our January 18, 2023, Inside Scoop Weekly Strategy Session.
by JC
This is a question I’ve been getting a lot.
“JC, how could you say we’re already in the 8th Month of a new bull market???”
The things people call me over email or on twitter are not something I would repeat in front of my mother, or daughter, and certainly not in front of any of you guys.
But I’m a big boy. I spent a lot of time on trading floors, dugouts and locker rooms. I’ve heard way worse.
It is interesting, however, to observe the feedback I get from just some basic arithmetic.
This isn’t like some random opinion I have about the economy, or Fed policy or earnings. This is just 3rd grade math.
Are more stocks going up? Are more stocks making new highs? Or are more stocks going down and making new lows?
Since June, the answer has been up and certainly not down.
Notice how the new lows list peaked in Q2. Even though some of the large-cap growth-heavy indexes made new lows later in the year, even for just a hot second, by that point there were almost no stocks left that were going down. [Read more…]
by David
From the Desk of Kimmy Sokoloff
We’re hovering around the $SPX 4,000 level, and we consolidated nicely yesterday.
Time will tell if this market needs a rest or we continue higher sooner versus later.
by David
Alabama Sen. Tommy Tuberville filed his first Periodic Transaction Report of the year.
Sen. Tuberville disclosed the purchase of Barrick Gold Corporation $GOLD for an amount between $15,000 and $50,000.
by JC
This is the video recording of the January 2023 Mid-month Conference Call.
by David
From the Desk of Kimmy Sokoloff
The market consolidated most of the day.
$SPY tested its 200-day moving average a few times down at 396.90 and managed to hold.
by David
The largest insider transaction on today’s list is a Form 4 filing by Abdiel Capital Management LLC, which reported a purchase worth roughly $8.7 million in Appian Corporation $APPN.
The hedge fund now has an ownership stake of nearly 12%.