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Daily Market Update for 5/6Summary: The market continued to correct as the US Dollar strengthened and Treasury yields rose on Friday. Defensive sectors in the S&P 500 gained while other sectors sank. Notes A brief update today due to holidays and travel. I will be traveling for the next week as well but will try to keep the Daily Market Update going. Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, May 6, 2022 Facts: -1.40%, Volume higher, Closing Range: 42%, Body: 28% Red Good: Closing range is ok Bad: Lower high, lower low, higher volume sell-off Highs/Lows: Lower high, Lower low Candle: Thin body in middle of long upper and lower wicks Advance/Decline: 0.27, almost four declining stocks for every advancing stock Indexes: SPX (-0.57%), DJI (-0.30%), RUT (-1.69%), VIX (-3.24%) Sector List: Energy (XLE +2.98%) and Utilities (XLU +0.80%) at the top. Materials (XLB -1.43%) and Communications (XLC -2.06%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview A brief update today due to holidays and travel. The market continued to correct as the US Dollar strengthened and Treasury yields rose on Friday. Defensive sectors in the S&P 500 gained while other sectors sank. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Fed's Raphael Bostic is scheduled to speak on Monday. Bostic is on the hawkish side of the Fed and could stoke fears of higher interest rate hikes despite Jerome Powell's assurance they would limit to 50 basis points. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq fell to 12,000 before getting support on Friday. Some analysts have forecasted 12,000 as the bottom during this correction, but time and the market will tell if that's true. The 40w EMA is at 11,750.07. The index dipped below this line only in the 2000, 2008, and 2020 crashes. If the index returns to the trend line from the 3/29 high, that would mean a +0.66% gain for Monday. The one-day and five-day trend lines point to a -0.67% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Analysts have been waiting for broad market capitulation and maybe we've seen some over the past two days, or maybe there is more to come. Watch the two levels at 12,000 and 11,750. If those levels hold, then we could see some upside from there. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Legend for TL Swing , H S&R , DB DT F BOLegend ================= TL Swing , H S&R , DB/DT (F BO) --------------------------------------------------------------- Check List: ------------------ 1) 3T TL BO 2) DB/DT & F BO 3) H S&R BO 4) Sustain above S&R and special bar @ option chart (Big bar, Pin bar, Inside / outside bar) 5) HH Entry 6) Compare Nifty & BN enter when form good pattern ----------------------------------------------- 6) Only entery high probability Trade (3 Trades Weekly double your money) 7) Exit only @ TP or SL or BE (more than 20p / 30m)
NASDAQ:IXIC
by satheeshvel15
IXIC - Rebound or falling further Comment : 1) Nasdaq Index has came to (e) Lv-2 target. Will it be rebound on Lv-2 or breakdown further more? 2) FundFlow+ indicator - Fund flow trend going downward 3) Tricol+ indicator - no banker-/weak- sentiment Support & Resistance : S : 12070 Remark : - Length of ab = cd = de = ef DISCLAIMER : Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.
TVC:IXIC
by TheWinningDay
Daily Market Update for 5/5Summary: The Wednesday rally did not last and in a whiplash move markets sold off on Thursday, with some of the worst single-day losses since 2020. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, May 5, 2022 Facts: -4.99%, Volume lower, Closing Range: 22%, Body: 78% Red Good: Lower volume Bad: Big decline, lower high, lower low, advance/decline ratio Highs/Lows: Lower high, Lower low Candle: Mostly red body, short lower wick from late dip buying Advance/Decline: 0.15, more than six declining stocks for every advancing Indexes: SPX (-3.56%), DJI (-3.12%), RUT (-4.04%), VIX (+22.74%) Sector List: Utilities (XLU -1.02%) and Energy (XLE -1.50%) at the top. Technology (XLK -4.81%) and Consumer Discretionary (XLY -5.60%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview The Wednesday rally did not last and in a whiplash move markets sold off on Thursday, with some of the worst single-day losses since 2020. The Nasdaq plummeted by -4.99%. Volume was lower than the previous day. The candle has no upper wick, a 78% red body, and a 22% closing range. There were over 6 declining stocks for every advancing stock. The Russell 2000 (RUT) fell by -4.04%. The S&P 500 (SPX) declined by -3.56%. The Dow Jones Industrial Average (DJI) declined by -3.12%. The VIX Volatility Index shot up by +22.74%. All eleven S&P 500 sectors declined. Utilities (XLU -1.02%) and Energy (XLE -1.50%) were at the top of the list. Technology (XLK -4.81%) and Consumer Discretionary (XLY -5.60%) had the worst declines. The weekly Initial Jobless Claims rose to 200,000 this week, topping the forecast of 182,000. Nonfarm Productivity for Q1 dropped more than expected, receding by -7.5%. Unit Labor Costs for Q1 rose more than expected, rising by 11.6% instead of the 9.9% forecast. After dipping yesterday, the US Dollar Index (DXY) jumped back to recent highs, gaining +1.01% today. US 30y, 10y, and 2y Treasury Yields all rose. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices declined. Brent Oil reached again $110 a barrel. The put/call ratio (PCCE) rose to 0.881. The CNN Fear & Greed index moved back toward Extreme Fear but is still in the Fear range. The NAAIM Money Manager Exposure Index rose to 57.18 from 46.25 the previous week. All of the big six mega-caps had huge losses. Tesla (TSLA) led the declines with a -8.33% drop today. Only Meta (FB) held above the 21d EMA and 50d MA lines, despite a -6.77% decline today. Only one stock in the Daily Update Growth List gained. Twitter (TWTR) rose by +2.65% as more financial support came for Elon Musk's purchase of the company. More than ten stocks on the list declined by more than 10%. Fastly (FSLY) ended up at the bottom of the list with a -18.09% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow is Jobs Data Friday. Nonfarm Payrolls, the Unemployment Rate, and other jobs-related metrics will be released prior to the market opening. Four Fed officials are scheduled to speak throughout the day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq reached the 13,000 support/resistance area yesterday but was rejected and sent tumbling today. If the index returns to the five-day trend line, that would mean a +0.88% gain for tomorrow. The trend line from the 3/29 high points to a -1.45% decline for tomorrow. If the one-day trend line continues into Friday, that would mean a -3.62% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up What a wild ride from yesterday's late afternoon rally to today's dramatic sell-off. It's unclear what drove yesterday's rally vs today's reposition. Could it be yesterday's relief over a 50 basis point increase vs the fear 75 basis point increase that drove the rally? And then as the additional two increases announced for June and July sank in, that drove today's decline? I don't know. Someone much smarter than me is making those decisions somewhere. Let's see if we get a rebound on Friday or if the pain continues. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Nasdaq Composite: sell the rumor, BUY the news! The investors have been panicking about rate hike, Russian war, oil price, inflation and recession for a couple of months. Recently the traditional 'collapse after rate hike' has become 'panic before rate hike, rally after rate hike'. This is because the fed has been more communicative about the rate hike, and the market is full of investors who try to be the fastest and often overreact. The bond market has shown some investors are expecting a 75 bps rate hike instead of 50 or 25 bps. This assumption is obviously ridiculous, so the investors became extremely relieved and excited after 4 May 2022 at the news of the 50 bps rate hike. The recession panic is also fading as investors realise the American economy remains strong and the Russian war or Chinese lockdown is not the end of world. This relief, coupled with the inflow of bargain hunters will send IXIC to the 0.618 resistance of 14680 and 0.786 resistance of 15354, in a matter of weeks. Then IXIC will probably consolidate between 14680 and 16212 for a while, and collapse again in September. Investors consider October as the worst month because they can't forget the disasters of October in 1929 and 2008. Therefore they tend to sell in September to avoid the perceived October disaster, making September an actually worse month than October. This pattern will combine with another wave of recession panic about rate hike and quantitative tightening, making September, October and possibly the first three and half weeks of November the bearish months of 2022. The long term trend remains strongly bullish as I have stated multiple times since 2019, so every major correction is an excellent opportunity to buy at discount.
TVC:IXICLong
by MarcusAu
Daily Market Update for 5/4Summary: Jerome Powell gave unexpected but specific guidance on not only today's interest rate hikes, but also the next two. In addition, the specifics around reducing the balance sheet helped squash the fear that the Fed would move too fast. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, May 4, 2022 Facts: +3.19%, Volume higher, Closing Range: 97%, Body: 63% Green Good: Gain on higher volume, strong afternoon rally with 97% closing range Bad: Lower low Highs/Lows: Higher high, Lower low Candle: Outside day, thick green body over a long lower wick, tiny upper wick Advance/Decline: Indexes: SPX (+2.99%), DJI (+2.81%), RUT (+2.69%), VIX (-13.09%) Sector List: Energy (XLE +4.15%) and Technology (XLK +3.51%) at the top. Health (XLV +2.22%) and Real Estate (XLRE +1.18%) at the bottom. Expectation: -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Jerome Powell gave unexpected but specific guidance on not only today's interest rate hikes, but also the next two. In addition, the specifics around reducing the balance sheet helped squash the fear that the Fed would move too fast. The Nasdaq responded with a late-day rally that helped it close with a +3.19% gain. The intraday swing was a huge 5% from low to high. Volume was much higher than the previous day. The candle has a lower low and a higher high, making for an outside day. The closing range of 97% is above a 63% green body. There were two advancing stocks for every declining stock. The S&P 500 followed the Nasdaq with a +2.99% gain. The Dow Jones Industrial Average (DJI) rose by +2.81%. The Russell 2000 (RUT) climbed by +2.69%. The VIX Volatility index dropped by -13.09%, although still remains elevated. All eleven S&P 500 sectors gained today. Energy (XLE +4.15%) and Technology (XLK +3.51%) were the best two sectors. Health (XLV +2.22%) and Real Estate (XLRE +1.18%) were at the bottom of the sector list. The ISM Non-Manufacturing PMI for April came in lower than expected at 57.1 compared to the 58.5 forecasts. However the Markit Services PMI and Composite PMI both beat expectations. The biggest news though was the Fed's decision to raise interest rates by 50 basis points to 1.0% and also stated the next two increases would be 50 basis points, not the 75 basis points feared by some analysts. The US Dollar Index (DXY) dropped -0.91%. The US 30y Treasury Yield gained while the 10y and 2y Treasury Yields declined. The gap between long and short-term yields widened. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices rose. Silver and Gold rose, thanks to the US Dollar's weakening. Brent Oil is at $109 a barrel after Europe proposed cutting off Russian oil. The put/call ratio (PCCE) rose to 0.857. The CNN Fear & Greed index moved toward Neutral but remained in the Fear region. All of the big six mega-caps rose today. Meta (FB) topped the group with a +5.37% gain. Apple (AAPL) and Meta closed above their 21d EMA and 50d MA. Microsoft (MSFT) moved above its 21d EMA while Tesla (TSLA) closed above its 50d MA. The big six led the mega-cap list with Facebook, Tesla, Alphabet (GOOG), and Apple (AAPL) making up the top four. AstraZeneca (AZN) was the only declining stock in the list. The Daily Update Growth List closed almost entirely in the green. PayCom (PAYC) topped the list with a +13.78% gain. The only declining stock in the list was RH (RH) which lost -1.46%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow we will get the weekly Initial Jobless Claims data before the market opens. We will also get Nonfarm Productivity and Unit Labor Costs for Q1. Shell (SHEL), ConocoPhillips (COP), Block (SQ), Shopify (SHOP), MercadoLibre (MELI), DataDog (DDOG), Lucid (LCID), Cloudflare (NET), DoorDash (DASH), and Zillow (Z) are among the earnings reports for Thursday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq moved back toward the 13,000 support/resistance area and stopped just short of that mark. Will it prove as resistance again or can the index move past the line and top the 21d EMA? If the one-day trend line continues into Thursday, that would mean a +3.26% gain, rising above the 21d EMA and stopping short of the 50d MA. If the index returns to the five-day trend line, that would mean a -3.78% decline. A drop to the trend line from the 3/29 high would mean a -5.83% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The afternoon rally felt good. Investors' confidence grew thanks to very specific guidance from the Fed on current and future interest rates and the balance sheet reduction. Forecasting with such specificity is not common for the Fed and shows how careful they are being to not create a recession. The next few days will be an important signal for equities. If the rally sticks, we should see a few days of gains on elevated volume and breath across the market with an advance/decline ratio over 1.0. Then some consolidation might begin late on Friday or early next week before the next move up. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 5/3Summary: There was less choppiness in a lighter volume trading day as investors way for the Fed interest rate decision on Wednesday. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, May 3, 2022 Facts: +0.22%, Volume lower, Closing Range: 56%, Body: 28% Green Good: Higher high and low, good closing range Bad: A/D below 1.0, need more volume Highs/Lows: Higher high, Higher low Candle: Thin green body within a tight low and high Advance/Decline: 0.96, slightly more declining stocks than advancing Indexes: SPX (+0.48%), DJI (+0.20%), RUT (+0.85%), VIX (-9.55%) Sector List: Energy (XLE +2.80%) and Financials (XLF +1.30%) at the top. Consumer Discretionary (XLY -0.25%) and Consumer Staples (XLP -0.29%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview There was less choppiness in a lighter volume trading day as investors way for the Fed interest rate decision on Wednesday. The Nasdaq climbed +0.22% today. Volume was lower than the previous day. The 28% green body sits in the middle of a tighter price range than what we've experienced almost daily for the last several weeks. The closing range of 56% is good and we got a higher high and higher low. There were slightly more declining stocks than advancing stocks. The Russell 2000 (RUT) did the best today, gaining +0.85%. The S&P 500 (SPX) rose by +0.48% and the Dow Jones Industrial Average (DJI) advanced by +0.20%. The VIX Volatility index dropped by -9.55%, but remains elevated. Nine of the eleven S&P 500 sectors gained. Energy (XLE +2.80%) and Financials (XLF +1.30%) were the best sectors. Consumer Discretionary (XLY -0.25%) and Consumer Staples (XLP -0.29%) were the two losing sectors. Both Factory Orders and JOLTs Job Openings for March were higher than forecast. API Weekly Crude Oil Stock was lower than expected, showing high demand. The US Dollar Index (DXY) dropped by -0.14% as it bounced up and down the last few days. US 30y and 10y Treasury Yields declined while the 2y Treasury Yield rose. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices rose. The put/call ratio (PCCE) declined to 0.753. The CNN Fear & Greed index remained in Fear. Four of the big six mega-caps gained. Apple (AAPL) led the way with a +0.96% advance. Microsoft (MSFT) declined -0.95%. Shell (SHEL) led the mega-cap list with a +3.55% gain. The top four mega-caps were Energy and Financial companies. Visa (V) had the biggest decline in the list, losing -1.40% today. The Daily Update Growth List had mixed results. The biggest gain came from Enphase (ENPH) which advanced by +3.68%. Okta, Inc. (OKTA) was at the bottom of the list, declining by -5.04% today. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead All eyes will be on the Fed Interest Rate Decision tomorrow afternoon. The expectation is for a 50 basis point rise to bring interest rates to 1.00%. Before the Fed's decision, we'll get Trade Balance data for March and the Non-Manufacturing Purchasing Managers Index for April. Crude Oil Inventories come later in the morning. CVS (CVS), Booking (BKNG), Moderna (MRNA), Uber Tech (UBER), Marriot (MAR), Fortinet (FTNT), and eBay (EBAY) are among the companies reporting earnings on Wednesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq stayed within a relatively tight trading range today. If the one-day trend line continues into Wednesday, expect a +0.38% advance. If the index returns to the five-day trend line, that would mean a -1.14% decline. The trend line from the 3/29 high points to a -2.48% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Let's hope the Fed gives us a boring day tomorrow, by doing exactly as expected and raising interest rates by 50 basis points. Boring is good for the stock market. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 5/2Summary: A late rally helped stocks close higher on Monday as long-term Treasuries rose above 3% ahead of the Fed meeting this week. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, May 2, 2022 Facts: +1.63%, Volume higher, Closing Range: 98%, Body: 60% Green Good: Closing range, gain on higher volume Bad: Lower high, lower low Highs/Lows: Lower high, Lower low Candle: Green body covers upper half of candle Advance/Decline: 1.08, about the same number of advancing and declining stocks Indexes: SPX (+0.57%), DJI (+0.26%), RUT (+1.01%), VIX (-3.17%) Sector List: Communications (XLC +2.76%) and Energy (XLE +1.60%) at the top. Consumer Staples (XLP -1.31%) and Real Estate (XLRE -2.60%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview A late rally helped stocks close higher on Monday as long-term Treasuries rose above 3% ahead of the Fed meeting this week. The Nasdaq closed up by +1.63%. The high closing range of 98% came after the index rallied in the final hour of trading. The index flipped from a red to green in the rally, leaving behind a long lower wick below a 60% green body. Volume was higher than the previous day. There was a nearly equal number of advancing and declining stocks. The Russell 2000 (RUT) gained +1.01%. The S&P 500 (SPX) rose by +0.57%. The Dow Jones Industrial Average advanced by +0.26%. The VIX Volatility Index fell by -3.17%. Six of the eleven S&P 500 sectors gained today. Communications (XLC +2.76%) and Energy (XLE +1.60%) topped the sector list while Consumer Staples (XLP -1.31%) and Real Estate (XLRE -2.60%) were at the bottom. Purchasing Manager Index data released in the morning showed a contraction in manufacturing activity which echoed data coming from China. The US Dollar Index (DXY) gained +0.38% today, moving back toward recent highs. The US 30y Treasury Yield topped 3% for the first time since 2019. The 10y and 2y Treasury Yields also rose today. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices were lower. Silver and Gold continue to sink, credit to the strengthening dollar. Brent Oil is at $107 per barrel. The put/call ratio (PCCE) declined to 1.03, remaining in a bearish range. The CNN Fear & Greed index remains deep in the Fear range. All of the big six mega-caps gained today. Meta (FB) led the gains with a +5.32% advance. Amazon (AMZN) just barely closed with a gain, rising +0.18% for the day after dipping nearly 5% earlier in the session. Meta and Nvidia (NVDA) both gained +5.32% to top the mega-cap list. PepsiCo (PEP) was at the bottom of the list with a -2.30% decline. All but two stocks in the Daily Update Growth List gained today, most advancing more than 4%. Roku (ROKU) was the top gainer with a +11.01% advance. DataDog (DDOG) and Niu Tech (NIU) were the two decliners, dropping by -0.48% and -1.05%, respectively. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead The big news this week be on Wednesday with the Fed interest rate decision. For tomorrow, we will get Factory Orders and the JOLTs Job Openings report for March. In the afternoon, the weekly API Crude Oil Stock report will arrive. Pfizer (PFE), AMD (AMD), Airbnb (ABNB), Starbucks (SBUX), and Hilton (HLT) are among the earning reports for Tuesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The late session rally wasn't enough to move the one-day regression trend line to an uptrend. The one-day and five-day trend lines and the trend line from the 3/29 high are pointing to a -1.52% decline for Tuesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up I'm not sure the rally in the late afternoon today means much. The put/call ratio is still high. So as some investors turned bullish, there are still plenty of investors that are betting on further declines. There's not much to go on for expectations on Tuesday, but we can probably look forward to more choppiness as investors prepare for Wednesday's Fed decisions. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
NASDAQ - We calculated the Top Exactly but this Dip? 🦉First of all, allow us to brag about calculating the 16,300 Top back in June 2021: We will revert with a new chart, trying to estimate the bottom, but only after the rate hike decision. For the time being, here is our Nasdaq chart with some interesting, historical analysis. We have been experiencing a major correction in the past weeks and the question is how deep will it end up being. Will the price reach the 10,000 (pre-Covid levels) or will we see a rebound soon? With Rate Hikes coming up, Inflation and War in Ukraine causing worries and with the 'printing' at ease it will be hard to price in where the Nasdaq belongs at the moment. Money was printed by the tons, the younger generation tends to invest before they even work (!!) and not just crypto and the mighty Nasdaq IS a symbol of how Technology will rule, or is ruling already, the World. Low rates and printing, benefit the stock markets. If interest rates rise higher than anticipated the chances of a deeper correction will increase. Remember our earlier projection is going as per plan: www.tradingview.com Nevertheless, take a look at our little informative chart art and let us know if you like it. What's next? One love, the FXPROFESSOR
NASDAQ:IXICShort
by FX_Professor
2
Daily Market Update for 4/28Summary: Strong earnings from big tech helped boost the stock market on Thursday, led by Meta, PayPal and Qualcomm. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, April 28, 2022 Facts: +3.06%, Volume higher, Closing Range: 83%, Body: 34% Green Good: Gain on higher volume, long lower wick shows bullish reversal Bad: Nothing Highs/Lows: Higher high, Higher low Candle: Green body above long lower wick, short upper wick Advance/Decline: 1.26, more advancing than declining stocks Indexes: SPX (+2.47%), DJI (+1.85%), RUT (+1.80%), VIX (-5.09%) Sector List: Technology (XLK +4.00%) and Communications (XLC +4.00%) at the top. Industrials (XLI +1.13%) and Utilities (XLU +1.11%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Strong earnings from big tech helped boost the stock market on Thursday, led by Meta, PayPal and Qualcomm. The tech-heavy Nasdaq soared +3.06% on higher volume than the previous day. The 34% green body sits above a long lower wick showing a bullish reversal to the upside mid-day. The closing range of 83% comes after a little profit taking at the end of the day. There were more advancing stocks than declining stocks. All indexes had great days. The S&P 500 (SPX) rose by +2.47%. The Dow Jones Industrial Average (DJI) climbed by +1.85%. And the Russell 2000 (RUT) gained +1.80%. The VIX Volatility Index remains elevated, but declined by -5.09% today. All S&P 500 sectors gained. Technology (XLK +4.00%) and Communications (XLC +4.00%) tied for the top spot on the sector list. Industrials (XLI +1.13%) and Utilities (XLU +1.11%) were at the bottom. The morning dip was probably due to economic data that showed the economy shrinking in the first quarter despite higher prices. The combination is a recipe for stagflation, one of the biggest market evils. Initial Jobless Claims hit the forecast exactly at 180,000 for last week. The US Dollar just won't quit. The US Dollar index (DXY) rose by another +0.65% today. US 30y and 10y Treasury Yields declined while the 2y Yield rose slightly. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices tracked higher with Treasuries. Brent Oil rose to $107 a barrel. The put/call ratio (PCCE) lowered slightly to 0.935. The CNN Fear & Greed index landed in the middle of the fear range. The NAAIM money manager exposure index dropped to 46.25. There were big gains for the big six. Meta (FB) rose +17.59% despite mixed results. The surprise came in unexpected user growth. Microsoft (MSFT) continued it post-earnings gains with a +2.26% advance today. Alphabet (GOOG) rebounded a bit from yesterday's loss, advancing by +3.82% today. Apple (AAPL) and Amazon(AMZN) both gained over 4% ahead of their earnings releases in the evening. Both were down in extended hours trading. Apple beat expectations but provided a cautious outlook for Q3 due to the impact of shutdowns in China. Amazon disappointed on results as the surge in consumer online spending during the pandemic is tapering off. Meta was the top mega-cap, followed by Nvidia (NVDA) which gained +7.42%, likely thanks to Qualcomm's performance. Novo Nordisk (NVO) fell by -1.23% to end at the bottom of the mega-cap list which had only four declining stocks. On the Daily Update Growth List, it was Pinterest (PINS), Upwork (UPWK) ,and PayPal (PYPL) that soared on earnings results, all rising more than 10%. Pinterest topped the list with a +13.55% gain. Four stocks ended up with losses at the bottom of the list. Ehang Holdings (EH) had the biggest decline, losing -1.38% today. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead PCE Price Index Data for March will be released tomorrow morning. We will also get the Chicago PMI and Michigan Consumer Sentiment and Consumer Expectations numbers for April. Exxon Mobil (XOM) both Chevron (CVX) report earnings in the morning. AbbVie (ABBV) and Honeywell (HON) are also notable reports for Friday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance After a dip in the morning, the Nasdaq headed back toward the 13,000 support/resistance area, stopping short of 13,000 before a bit of profit taking before the close. That action created a one-day trend line that points to a +4.36% advance for Friday. The index is unlikely to rise that much in one day, especially given Amazon will most certainly decline. If sentiment turns bearish and the index returns to the five-day trend, that would meet up with the trend line from the 3/29 high and mean a -2.82% decline to end the week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Something like 40% of Nasdaq companies reported earnings this week. Overall earnings continue to show strong performance from public companies across sectors and sizes. Leaders are cautious about the next few quarters which will continue to make investors cautious. Tomorrow could be a good signal of just how investors feel after taking the whole week of reports in view. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
INDEX ANALYSIS INDEX ANALYSIS: All three index caught a nice bounce off the floor today with the Crypto Index (right) still having exhibited the least downside skew as illustrated by the ARENA (top) indicator, never crossing -1 standard deviation to the downside. When looking at the Nasdaq (left) and SPX (center) we can see that both indexes recently breached -1 standard deviation on their respective ARENA (top) indicators. We also see the Crypto Index (right) exhibiting higher upside skew, having recently breached +2 standard deviation to the upside during the late March/Ukraine rally while the Nasdaq (left) and the SPX (center) only rose above +1 standard deviation during the rally. Moving down to the PIG RSI (middle) we see the Nasdaq (left) continuing to remain the deepest oversold followed by the SPX (center) and the Crypto Index (right), with all three indexes exhibiting a similar “floor bounce” illustrated by signal line (yellow) pointing upward on all three PIG RSI (middle) indicators. From our HISTORICAL VOLATILITY PERCENTILE (bottom) indicator we see both the Nasdaq (left) and the SPX (center) exhibiting high (red) to elevated (orange) levels of historical volatility while the Crypto Index (right) remains relatively calm (blue) despite significant trend correlation to both the Nasdaq (left) and SPX (center) at the time of writing this report. In summary we can say that the Crypto Index is exhibiting less instability from a historical volatility perspective relative to both the Nasdaq and the SPX in part because it rallied harder to the upside (ARENA, top) at the end of March/beginning of April and hasn’t sold off as deeply (RSI, middle). This more positive price/volume skew distribution in the Crypto Index relative to the NDX and SPX creates the conditions for a lower, respective historical volatility reading… but will it hold? Stay tuned to stay informed. (The above charts are for educational purposes only and are not intended as financial advice.) #crypto #bitcoin #finance #icix #spx #defi #cryptotrading #cryptoinvesting #cryptocurrency
NASDAQ:IXIC
by The_Firewalker
Daily Market Update for 4/27Summary: Equities were mixed as the US Dollar continues to strengthen against the Euro and Japanese Yen. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, April 27, 2022 Facts: -0.01%, Volume lower, Closing Range: 21%, Body: 4% Red Good: Lower volume on decline Bad: Lower high, lower low, closing range, long upper wick Highs/Lows: Lower high, Lower low Candle: Thing red body near bottom of candle underneath a long upper wick Advance/Decline: 0.51, two declining for every advancing stock Indexes: SPX (+0.21%), DJI (+0.19%), RUT (-0.34%), VIX (-5.73%) Sector List: Technology (XLK +1.48%) and Materials (XLB +1.47%) at the top. Real Estate (XLRE -0.60%) and Communications (XLC -2.23%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Equities were mixed as the US Dollar continues to strengthen against the Euro and Japanese Yen. The Nasdaq closed just -0.01% lower after a morning rally failed and turned into afternoon selling. The 4% red body underneath a long upper wick shows the round trip to intraday highs that eventually resulted in a 21% closing range. There were two declining stocks for every advancing stock. The S&P 500 (SPX) did better, helped by Microsoft and the Technology sector. It closed +0.21% higher. The Dow Jones Industrial Average (DJI) gained by +0.19%. Small-caps did not fare well, with the Russell 2000 (RUT) declining -0.34%. The VIX Volatility Index dropped -5.73%. Six of the eleven S&P 500 sectors gained today. Technology (XLK +1.48%) led the list with help from Microsoft. Materials (XLB +1.47%) was the next best sector. Communications (XLC -2.23%) was at the bottom of the sector list, brought down by Google and Facebook losses. The US Dollar continues to strengthen. The index (DXY) that measures the dollar against a basket of other currencies, rose +0.68% today. It is up more than 5% for the month. Treasury Yields rose. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices declined. Silver and Gold continued to drop. Brent Oil remains around $105 a barrel. The put/call ratio (PCCE) rose to 0.937. The CNN Fear & Greed index remains deep in the Fear region. Microsoft (MSFT) led the big six mega-cap list with a +4.81% gain after strong earnings. Alphabet (GOOGL) led the declines with a -3.75% loss after taking another hit on advertising revenues. Meta (FB) declined by -3.32% as investors expected a similar fate, but then the company surprised with stronger-than-expected user growth and the stock rose % by 18 in extended trading. Visa (V) was the top mega-cap, gaining +6.47% after telling investors there was no impact on the business from economic and geopolitical situations. Mastercard (MA) rose +5.07% thanks to the Visa news. Alphabet and Facebook were the worst two mega-caps for the day. JD.com (JD) led the Daily Update Growth List with a +7.91% gain. Enphase (ENPH) deserves an honorable mention after climbing +7.72% to land in the second spot thanks to strong earnings. Beyond Meat (BYND) is also notable. The stock gained +30% intraday on misunderstood news coverage. After the news was clarified, the stock dropped but held onto a +7.57% gain. Roku (ROKU) was at the bottom of the list again, declining by -7.63% today. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead We'll get the first look at GDP for Q1 on Thursday. We'll also get the weekly Initial Jobless Claims. The big six mega-caps will finish out their earnings season with Apple (AAPL) and Amazon (AMZN) reporting on Thursday. In addition, Mastercard (MA), Eli Lilly (LLY), Merck (MRK), Thermo Fisher Scientific (TMO), Comcast (CMCSA), Intel (INTC), and McDonald's (MCD) are among many more reporting in this busy earnings week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance If the one-day trend continues into Thursday, that will be near the trend line from the 3/29 high and result in a +0.47% gain. The five-day trend line points to a -2.24% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Earnings continue to surprise in multiple ways. While Meta faces some of the same earnings pressures as Google, the company was able to show strong user growth and excite investors. Overall the earnings season continues to show companies outperforming and showing a positive outlook even amidst headwinds. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
1
Nasdaq Reversal Fibs 2000 Crash History RhymeI used an 80% retrace in 2022, though the 2000 retrace was worse as a percentage. The comp would fit with a deflationary crash if the Fed doesn't do an about face. I see the DXY moving up to 103.5 tonight and trying hard to break a long term resistance level to the upside. This is mostly a measure of other fiat currencies and heavily the Euro, so it makes sense with the fed raising or at least pretending to raise rates aggressively and Europe in the throes of an energy crisis, that the dollar would have jet boosters added to it. But go to the store and buy any good or commodity with the dollar and it buys less with each passing day. Now imagine being a foreign fiat currency holder and trying to go to the store to do the same thing. It's significantly worse with the exception of commodity producing countries and the only one of those that hasn't dropped recently with the commodity sell off is Russia, which is outperforming the dollar presently. The fed either punts on rate hikes by June's meeting or everyone long in the market may get the Klaus Schwab treatment, including a shit ton of boomers at retirement age. Look sharp folks, S&P 500 breaks the 4150~ level and doesn't quickly turn up, the next wave down starts.
NASDAQ:IXICShort
by worldlyFriend67762
3