All Eyes on the PPI Report
The bond market led stocks last week on the way up. Any sell-off of bonds, and the /ES could go back to the 3900 level.
The bond market led stocks last week on the way up. Any sell-off of bonds, and the /ES could go back to the 3900 level.
NFLX has done a good job of holding above the 100 SMA when the market dropped back down this fall. Now that the market is attempting to bounce, that could help NFLX with some bullish momentum. In this video I walk through the charts and a couple of trade ideas to consider, depending on how NFLX looks into the close.
SM overall has done a better job holding up this year being in the Energy sector but unlike other names that appear to be at exhaustion, SM has been building energy into Daily and Weekly Squeezes. In this video I walk through the charts as well as trade ideas to consider.
This is the best chance for a short squeeze yet. We have central bank interventions, elections, seasonality, and early technicals… let’s go over the game-plan.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
By now I’m sure you know about the CPI report and the fact that the market rallied on the heels of it. What I would like to do next is answer the question, “Now what?” In tonight’s market update I will attempt to lay out a plan for the next leg as I see it likely shaping up.
Today is Veterans Day and the market was a bit slow and choppy on the heels of yesterday’s biggest rally day of the year. In tonight’s end of week wrap up I’d like to take a look around for opportunities while making a plan to take advantage of them. We’ll look at Ag’s, Softs, Metals, Energy, Treasuries and anything else that grabs our attention.
The SPX has hit the daily 61.8 fib retracement, but the gap at 4080 is still possible. On the other hand, if BTC crashes over the weekend, the markets could be in for a lot of pain.
Fibonacci and Voodoo Lines analysis point to an important decision level overhead. Holding 148 keeps 155 in focus.