Nasdaq Unch'd as Special Rebalance Forces Monsters of Tech Lower
Everyone knows that there is an outsized impact from the likes of Apple Inc (Nasdaq: AAPL), Microsoft Corp (Nasdaq: MSFT), and others. This short list of 7 companies carries about a 55% weighting on the Nasdaq 100 Index. Well, no more. The special rebalance is scheduled for July 24, 2023. Let's visit the impact of…
EVs and Crypto Bid on Eve of Independence Day
It appears that traders are making a move on high short interest names in EV and crypto as we head into the Independence Day holiday. The setup is similar to last Monday but more focused as big cap tech and cyclicals led last week. (RIOT, MARA, BITO, COIN, FSR, NKLA, TSLA, RIVN, BYND, WMT)
Bears Negotiating a Truce as Tech Option Activity Heats Up
We finally get a pull-back and the bears appear to be losing some momentum. Energy and Real Estate topped today's performance, but it's big cap technology that appears to have bullish option activity building beneath the surface. (QCOM, AMD, INTC, OXY, JNJ, GIS, AMZN)
Retail Rampage in Tech Lifts S&P Above Pivotal 4300 Ahead of Fed and Inflation
Retail traders are back after a hiatus and they're just in time to bid the markets higher ahead of key inflation data and the FOMC policy statement. Sure it's risky, but time will tell if it pays off or if it's a replay of the 2022's version of the strong and the weak. Fact is,…
Bearish Vision as Apple Tests All-Time High
Apple's first new product category in 8 years is a mixed-reality headset for $3499. After watching the mixed-reception in the company's share price, does this represent the peak in Apple as it makes a new all-time high? (AAPL, U, RIG, GM, KEY, COIN, XLV).
The Unch'd Effect: Why Markets Feel so Hostile
We just broke out less than a week ago and you're already questioning the direction? You're experiencing the "Unch'd Effect." Today is a good example of the market finishing with no real direction and a tremendous amount of news bubbling just out of sight for market bulls. At the moment, participants are able to keep…
Debt Ceiling Disco Heats Up, Time to Get Off the Floor?
Debt ceiling discussions are heating up as the X-date looms. As usual, all of the rhetoric is getting pretty thick as "default" looms large. How does this impact money market funds? Also, as the market meanders, are we setting up for another short squeeze. (KWEB, BABA, HAS, FUBO, UXIN, UPST, REAL, ERO, IE)
Busy Week Ahead as Volatility Gauges Flash Red
With CPI data being released on Wednesday and the Biden administration starting talks with Congress on Tuesday, it looks like this could be a big week for volatility. Looking at volatility gauges, it appears that traders are pricing in that potential as well. (DE, SMG, RIO, GEO, NFLX, AMD, FUBO, USB).
Vote of No Confidence Following FOMC as Banks Back in Spotlight
Despite Chairman Powell attesting to the strength of the banking system, regional banks were back in the spotlight as the sell-off resumed following yesterday's close. The bearish tenor from yesterday extended in today's trading session as bearish options activity continued to escalate. Is the move over and is the market beginning to price in a…
Oil & Gold Lead with Earnings Focus Turning to Communications Following Financials Promising Start
Financials helped kickstart a better-than-expected earnings season, but volatility gauges are pointing to the downside risks. Energy and gold shined as they looked to rally off of oversold levels. The Communications sector is about to have a big earnings week and option activity trends cast doubt on a repeat of the performance of the big…