Stocks and Indices continue to trend sideways
Outside the first trading day of the month, the market has absolutely gone nowhere. Stock trends in general have been totally sideways or in more technical terms, “consolidating”.
Under the surface, the street seems to be trying to rid themselves of all things tech, as was seen yesterday as the market actually had a solid day, but it was the Nasdaq stocks that absolutely had a horrible time with things.
Going into today, I need to see the tech stocks bounce some, or I will be lessening my exposure in that area.
The VIX is getting super low again, below 10 as of yesterday’s close. Oil is trying to bounce as USO has risen for a third straight day.
Essentially the market is flailing in the wind right now, but it isn’t getting swept away – and for this rally to continue, it will need the participation of tech.
S&P 500 Technical Analysis
Current Stock Trading Portfolio Balance:
- 6 Long Positions
Recent Stock Trade Notables:
- Intel (INTC) Short at $35.21, covered at $34.46 for a 2.1% profit.
- Nvdia (NVDA): Long at $155.57, closed at $157.53 for a 1.3% profit.
- IBB: Long at $298.24, closed at $303.74 for a 1.8% profit.
- SPXU: Long at $15.68, closed at $15.25 for a 2.7% loss.
- Whirlpool (WHR): Long at $190.46, closed at $195.19 for a 2.5% profit.
- Ferrari (RACE): Long at $84.60, closed at $89.93 for a 6.3% profit.
- Amazon (AMZN): Long at $964.70, closed at $1001.23 for a 3.8% profit.
- American Airlines (AAL): Long at $49.18, closed at $50.62 for a 2.9% profit
- Alibaba Group (BABA): Long at $124.95, closed at $137.51 for a 10.1% profit.
- Starbucks (SBUX): Long at $61.78, closed at $63.68 for a 3.1% profit.
- Western Digital (WDC): Long at $91.24, closed at $89.29 for a 2.1% loss.
- Broadcom (AVGO): Long at $236.65, closed at $241.15 for a 2% profit.
- SPXU: Long at 16.60, closed at $16.98 for a 2.3% profit.
- JP Morgan Chase (JPM): Long at $87.84, closed at $85.98 for a 2.1% loss.
- Micron Technology (MU): Long at $29.00, closed at $28.04 for a 3.3% loss.
- Alibaba Group (BABA): Long at $116.25, closed at $124.09 for a 6.7% profit.
- Southwest Airlines (LUV): Long at $58.35, closed at 57.23 for a 1.9% loss.
- Broadcom (AVGO): Long at $223.63, closed at $228.65 for a 2.2% profit.
- Workday (WDAY): Long at 86.00, closed at 90.32 for a 5% profit.
- Univar (UNVR): Long at $30.96, closed at $32.20 for a 4% profit.
- Alibaba Group (BABA): Long at $111.91, closed at $115.48 for a 3.2% profit.
- Redhat (RHT): Long at $85.21, closed at $87.21 foor a 2.4% profit.
- Darling Ingredients (DAR): Long at $15.19, closed at $14.90 for a 1.9% loss.
- Apple (AAPL): Long at $143.82, closed at $147.11 for a 2.3% profit.
- Teradyne (TER): Long at $31.16, closed at $33.03 for a 6.0% profit.
- UPRO: Long at $92.75, closed at $94.78 for a 2.2% profit.
