While everyone and their mother was waiting for Nvidia’s quarterly earnings, the Fed Open Markets Committee meeting minutes hit the street. Oooh boy… The report wasn’t good at all. Seems plenty of folks at the central bank are feeling really hawkish. Forget about that weak “higher for longer” song ‘
The tape doesn’t lie: The bullish thesis I’ve developed over the past few weeks has been vindicated. Ever since late April, I’ve been pounding the table about it. The way higher is wide open. Although, I’m a bit concerned as we move deeper into summer. What is it that makes me uneasy? Utilities, and
The S P 500 finished barely in the green and was led by the technology sector ahead of a pivotal earnings announcement from $NVDA on Wednesday after the close. With an $82 expected move for this week, expect some significant volatility! Aside from NVDA lifting the market today, it was gold, silver a
--nothing but CPI --NVDA a defining moment for the AI trade --gold and silver --bond markets --cocktail for volatility --do not be a vol starved animal SPX Expected Move -- --last week -- 67.29 (5--day expected move) --next week-- (5--day expected move)
All three major indexes closed at all-time highs… but the way I see it, today’s breakout is a little questionable. I’ll show you why in a second. But the fact is, the S P 500 is moving higher; some sectors are getting weaker, others are getting stronger. The next session or two will really tell the
The SPX was up around $58 just before the close today. The market loved the CPI numbers (I don’t see what there is to love about them; they came in as expected but 3.4% is still high) and took us right to the upper edge of the expected move. Now, if you remember, last week
Everything old is new again. GameStop (GME) and AMC Theaters (AMC) the two quintessential tickers from the 2021 meme-stock craze - are soaring again on the “strength” of… Internet buzz. Nevermind the fact that neither of these stocks are anywhere near their 2021 highs - this is a distraction, pure a
The S P 500 faded today ahead of a looming raft of inflation data we’ll see over the next few days. In my view, given the recent strength of the market, traders seem to have bought the rumor… and are now poised to sell the news. The result, for the moment, is a flat market. That
If you love it when stocks don’t move and nothing makes sense, you probably had a blast this week… For everyone else, yours truly included, the markets were just… terrible. I mean, they sucked. Or worse. As a trader, you want to see two-sided trades, action. We did not get that. Instead we’re straig
