Trading Block

Trading Notes: PPI numbers came in cool following yesterday's hot CPI reading. With the latter, the market once again showed its willingness to price in a greater likelihood of more rate cuts (which would run against higher than expected inflation), and to buy the dip. Bank earnings have been mixed so far, and stocks are

Trading Notes: CPI print came in hotter than expected at 3.4% vs 3.2%. That led to an initial drop in the futures, but so far the market isn't necessarily seeing any thing major in the way of panic selling. In fact, the VIX, interestingly, dropped following the report (usually it runs opposite of equities). I

Trading Notes: Going back to December 13, following a big surge higher in price for SPY, when one looks back at this market, it'll be seen that, to-date, it has simply been trading in a sideways channel. Yesterday had far more bearishness than what SPY and QQQ indicated, as they were held up by the

Trading Notes: Huge rally yesterday, affording me the opportunity to add a fourth position to the portfolio with AAPL, as well as a much needed bounce out of MSFT that saw a strong rotation back into tech stocks on Monday. BAC is scheduled to report earnings on Friday, so I'll be looking to dwindle down

Trading Notes: SPY and QQQ managed to snap their losing streaks on Friday, while IWM made it six straight days lower. Some short-term oversold readings are popping up, while mid-to-longer range views has the market coming off of overbought conditions finally. I'll be watching tech closely today for a potential bounce, and in particular AAPL

Trading Notes: QQQ is getting short-term oversold here and may be setting up for a bounce soon. It is attempting to make it six straight days lower, which hasn't been seen since October '22. Much of your longer-term readings are at just showing price coming off of overbought levels. I haven't been overly aggressive here

Trading Notes: Big tech continued to sell-off for a fourth straight day and third straight for SPX. There's a rotation back and forth to the downside, much like there was during the November/December rally between small and large caps (especially big tech large caps) for leading this market lower. Yesterday it was the small caps,

Trading Notes: Futures are pointing lower for a third straight day, and if it continues would match the longest pullback since the rally started in the beginning of November. From a position standpoint, I'll be closely watching the rising, short-term trend-lines on both JETS and MSFT, and how BAC does with the consolidation that it

Trading Notes: 2024 is upon us, and with it a very weak opening, which supports my theory from last week that I was floating, that traders were waiting to take gains, for tax purposes, on their trades over the last two months until the new year started, and in the pre-market, we're seeing some of

Trading Notes: Last trading day of the year for 2023. I expect it to be much like the previous three trading sessions with low volume and a narrow price range. As we get closer to the end of day, I expect volatility to pick up some as traders will be making their final trades for 2023,