Get started
US Composite IndexUS Composite IndexUS Composite Index

US Composite Index

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Seasonals

IXIC trade ideas

Daily Market Update for 4/8Summary: Friday was a continuation of this choppy week that saw more Fed officials take a hawkish stance toward policy to get inflation under control. 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=- Friday, April 8, 2022 Facts: -1.34%, Volume lower, Closing Range: 10%, Body: 69% Red Good: Higher low, lower volume on decline Bad: Lower high, closing range of 10% Highs/Lows: Lower high, Higher low Candle: Inside day, red body in between tiny upper and lower wicks Advance/Decline: 0.42, more than two declining for every advancing stock Indexes: SPX (-0.27%), DJI (+0.40%), RUT (-0.76%), VIX (-1.81%) Sector List: Energy (XLE +2.75%) and Financials (XLF +1.01%) at the top. Consumer Discretionary (XLY -0.92%) and Technology (XLK -1.40%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Friday was a continuation of this choppy week that saw more Fed officials take a hawkish stance toward policy to get inflation under control. The Nasdaq declined by -1.34%. Volume was lower than the previous day. The candle has a 69% red body in between small upper and lower wicks. The closing range of 10% put the close below the 50d moving average. There were more than two declining stocks for every advancing stock. The Dow Jones Industrial Average (DJI) advanced +0.40%, helped by big energy and big finance companies. The S&P 500 (SPX) receded by -0.27%. The Russell 2000 (RUT) declined by -0.76%. The VIX Volatility Index fell by -1.81% after hitting higher levels earlier in the week. Seven of the eleven S&P 500 sectors ended the day in the green. Energy (XLE +2.75%) and Financials (XLF +1.01%) were the best two sectors. Consumer Discretionary (XLY -0.92%) and Technology (XLK -1.40%) led the losing sectors. There were no surprises in the World Agricultural Supply and Estimates (WASDE) report. Investors already know about the crisis in the food chain caused by the war in Ukraine. The US Dollar Index (DXY) gained another +0.09%, ending the week at its highest point since May 2020. Treasury Yields continued higher as bond investors sell-off notes ahead of the Fed reducing the balance sheet. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices continued to track lower. Brent Oil moved slightly higher but is staying near the $100 level. The put/call ratio (PCCE) declined to 0.786. The CNN Fear & Greed index moved closer to Neutral. All of the big six declined, led by Nvidia (NVDA) which fell by -4.50%. Tesla (TSLA) is the only of the six to remain above moving averages, despite declining by -3% today. Home Depot (HD) was the top mega-cap today, advancing +2.76%. The stock had been underperforming the market, including the Consumer Staples sector, so possibly investors are looking for a bargain. Nvidia was at the bottom of the mega-cap list, followed by Tesla. Only four stocks in the Daily Update Growth List gained. RH was the biggest winner, advancing +2.43% and followed by Fastly (FSLY) which rose +2.20%. Lemonade (LMND) landed at the bottom of the list with a -8.34% drop today. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead There is not much economic news to kick off on Monday, but Tuesday will bring the Consumer Price Index data for March. The week will also start off light with earnings reports and then pick up with Finance firms reporting later in the week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq dropped below the 50d moving average in the morning, recovered mid-day but then closed below that line to end the week. The trend line from the 3/29 high and the one-day trend line point to a -0.21%. The five-day trend line ends with a -1.95% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up There wasn't much news to change investor sentiment in either direction today, so more of the same continued into Friday. Equities chopped around while bonds sold off. The volatility will continue until more agreement is established on how quickly the Fed will reduce the balance sheet and how much they will increase interest rates. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
1
Daily Market Update for 4/7Summary: Stocks weren't sure what to do on Thursday, but Bonds sold off as investors continue to digest what Fed actions may be in store for later this year. 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 7, 2022 Facts: +0.06%, Volume lower, Closing Range: 72%, Body: 12% Green Good: High closing range Bad: Lower high, lower low, dip below 50d MA Highs/Lows: Lower high, Lower low Candle: Thin green body above a long lower wick Advance/Decline: 0.48, more than two declining stocks for every advancing stock Indexes: SPX (+0.43%), DJI (+0.25%), RUT (-0.35%), VIX (-2.49%) Sector List: Health (XLV +1.92%) and Energy (XLE +1.31%) at the top. Real Estate (XLRE -0.82%) and Communications (XLC -0.87%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Stocks weren't sure what to do on Thursday, but Bonds sold off as investors continue to digest what Fed actions may be in store for later this year. The Nasdaq recovered from an intraday dip to close +0.06% higher. The candle has a 12% body in the upper half of the candle. It's above a long lower wick that formed in the first half of the day as the index plunged below the 50d MA. Prices recovered in the afternoon before the Nasdaq hit resistance at the 21d EMA and formed a short upper wick before close. The closing range was good at 72%, but there were more than two declining stocks for every advancing stock. The S&P 500 (SPX) was the best index today, advancing by +0.43%. The Dow Jones Industrial Average (DJI) climbed by +0.25%. Small-caps did not do well with the Russell 2000 (RUT) declining by -0.35%. The VIX Volatility Index fell by -2.49%. Seven of the eleven S&P 500 sectors gained. Health (XLV +1.92%) and Energy (XLE +1.31%) were at the top of the list. Real Estate (XLRE -0.82%) and Communications (XLC -0.87%) had the biggest losses. The weekly Initial Jobless Claims were less than forecast. 166,000 claims were counted against the expectation of 200,000. The US Dollar index (DXY) continued higher, climbing by +0.13% today. US 30y, 10y, and 2y Treasury Yields all rose. The gap between the 10y and 2y continues to widen. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices fell for another day. Brent Oil dipped below $100 but then closed the day just above that mark. The put/call ratio (PCCE) declined to 0.799. The CNN Fear & Greed index moved back toward Neutral. The NAAIM Money Manager Exposure Index rose to 83.41 from 79.72 the previous week. Three of the big six mega-caps ended the day with gains. Tesla (TSLA) gained +1.10%, followed by Microsoft (MSFT) and Apple (AAPL) which gained +0.62% and +0.18%. Pfizer (PFE) was the top mega-cap, followed by other Health sector stocks. Pfizer gained +4.33% today. Pfizer announces the acquisition of ReViral, a respiratory virus drugmaker. At the bottom of the mega-cap list was Alibaba (BABA). Chewy (CHWY) was the top stock in the Daily Update Growth List. Chinese stocks dominated the bottom of the list with Ehang Holdings (EH) falling by -7.17% to land at the bottom of the list. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead The World Agricultural Supply and Demand Estimates report, published by the USDA, will be published at noon tomorrow. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq dipped below the 50d MA mid-day before recovering and finding resistance at the 21d EMA before close. If the one-day trend line continues, that would mean a +0.38% gain on Friday. The trend line from the 3/29 high and the five-day trend line point to -0.98% and -1.47% declines. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The market is still sorting out what interest rate hikes and the balance-sheet runoff means for the rest of 2022. If the bond market is an indication, then we will likely see more volatility in equities, especially with growth stocks. Higher yields and the strengthening US dollar will especially put pressure on large multinationals that depend on repatriated revenues. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 4/6Summary: A look at the Fed meeting minutes didn't do much to alleviate investor worries over inflation and near-term Fed actions. That created a wildly volatile day for equities while the US Dollar strengthened and Treasury yields rose. 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 6, 2022 Facts: -2.22%, Volume higher, Closing Range: 26% (w/gap), Body: 47% Red Good: Recovery from the intraday lows Bad: Gap down at open, low closing range, high volume on decline Highs/Lows: Lower high, Lower low Candle: Gap down, longer lower wick under a 50% red body. Advance/Decline: 0.29, more than three declining stocks for every advancing stock Indexes: SPX (-0.97%), DJI (-0.42%), RUT (-1.42%), VIX (+5.09%) Sector List: Utilities (XLU +1.99%) and Health (XLV +1.52%) at the top. Technology (XLK -2.37%) and Consumer Discretionary (XLY -2.55%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview A look at the Fed meeting minutes didn't do much to alleviate investor worries over inflation and near-term Fed actions. That created a wildly volatile day for equities while the US Dollar strengthened and Treasury yields rose. The Nasdaq declined by -2.22%. Volume was higher than the previous day. The index opened with a gap down to start below the 21d EMA, continued lower until getting support at the 50d MA and recovering some of the loss. The candle has a 26% closing range, considering the full range from yesterday's low to include the gap. There were more than three declining stocks for every advancing stock. The Russell 2000 (RUT) lost -1.42%. The S&P 500 (SPX) fell by -0.97%. The Dow Jones Industrial Average (DJI) declined by -0.42%. The VIX Volatility Index rose another +5.09%. Five of the eleven S&P 500 sectors gained for the day with Utilities (XLU +1.99%) and Health (XLV +1.52%) performing the best. Growth sectors led markets lower. Technology (XLK -2.37%) and Consumer Discretionary (XLY -2.55%) were at the bottom of the sector list. Crude Oil Inventories were higher than expected, helping Crude Oil futures to drop. The US Dollar index (DXY) rose to +0.14%. US 30y and 10y Treasury Yields rose while the 2y yield declined. That continued to widen the gap after the yields inverted briefly last week. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices continue to drop. Brent Oil dropped to $101. The put/call ratio (PCCE) rose to 0.897. The CNN Fear & Greed index moved back into the Fear range. The big six mega-cap charts were crushed by the sell-off. Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), and Nvidia (NVDA) all broke below key moving averages. Only Apple (AAPL) and Tesla (TSLA) remain above the three moving averages I track. Nvidia had the biggest drop, declining by -5.88% while Apple faired the best, declining only -1.85%. Eli Lilly (LLY) along with the rest of the Health sector did well. LLY topped the mega-cap list with a +4.56% gain. Nvidia and Tesla were at the bottom of the mega-cap list. All stocks in the Daily Update Growth List declined. Twitter (TWTR) had the smallest decline, falling only -0.41%. The biggest declines were from Beyond Meat (BYND) and Cloudflare (NET), which both fell over 8%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow will kick off with the weekly Initial Jobless Claims report. Treasury Secretary Janet Yellen as well as several Fed members are scheduled to speak throughout the day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq opened the day below the 21d EMA and continued lower before getting support at the 50d MA. The trend line from the 3/29 high, the five-day trend line, and the one-day trend line all point to a +0.30% advance for tomorrow. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It seems that the Fed will shed $95 billion a month from the balance sheet and raise interest rates 225 more basis points before the end of the year. That will be three 50 point increases and three 25 point increases. The good news, is now we know. The bad news is that the impact on your favorite equities may not be over yet. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Nasdaq Composite extreme panic and double bottom Nasdaq Composite is in extreme panic mode right now, the investors seem to have perceived the possible Russia-Ukraine War as an end-of-world scenario. They have clearly forgotten that major wars have mostly been beneficial for American stocks, e.g. how WW2 made DJIA skyrocket. Moreover, the coming rate hike at 16 Mar 2022 will definitely scare a lot of investors into panic selling. That being said, I still believe IXIC will bounce back from 13000 and form a double bottom for the short term. IXIC will bounce back and test the 0.618 resistance at 15021. After failing to break above 15000, IXIC will jump into panic mode again with the aid of rate hike scare. The bottom will emerge in May or June around 11000. If the panic is extreme enough, IXIC might test the strong support of 10000. I selected 'short' but I would never advise shorting the indexes. Buying the bottom is a much safer and more profitable strategy in the long run. Due to the excellent fundamentals e.g. lowest Amercan unemployment in decades, this temporary panic is not the end of the long term bullish trend. IXIC will consolidate between 11000 and 16000 this year, then skyrocket again in 2023 and 2024.
TVC:IXICShort
by MarcusAu
3
Daily Market Update for 4/5Summary: Brainard turns hawkish and sucks the energy out of the market. Equities dropped as yields soared. 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, April 5, 2022 Facts: -2.26%, Volume higher, Closing Range: 11%, Body: 86% Red Good: Nothing Bad: Lower high, lower low, closing range Highs/Lows: Lower high, Lower low Candle: Mostly red body, tiny upper and lower wicks Advance/Decline: 0.24, 4 declining for every advancing stock Indexes: SPX (-1.26%), DJI (-0.80%), RUT (-2.36%), VIX (+13.25%) Sector List: Utilities (XLU +0.63%) and Health (XLV +0.21%) at the top. Technology (XLK -2.11%) and Consumer Discretionary (XLY -2.34%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Brainard turns hawkish and sucks the energy out of the market. Equities dropped as yields soared. The Nasdaq declined by -2.26%. Volume was higher than the previous day. The lower high and lower low as well as the low closing range all mark a bearish day of distribution. The red body covers 86% of the candle and leaves behind an 11% closing range. There were more than four declining stocks for every advancing stock. The Russell 2000 (RUT) declined the most, losing -2.36$. The S&P 500 (SPX) dropped by -1.26%. The Dow Jones Industrial Average lost -0.80%. The VIX Volatility Index rose +13.25%. Only four of the eleven S&P 500 (SPX) sectors, all defensive sectors. Utilities (XLU +0.63%) and Health (XLV +0.21%) were the top gainers. Technology (XLK -2.11%) and Consumer Discretionary (XLY -2.34%) had the most significant declines. Services and non-Manufacturing PMI indexes were slightly lower than expected. The trade balance also showed a more negative picture than forecast, but not too far off the expectation. The US Dollar index (DXY) rose by +0.50%. US 30y, 10y, and 2y Treasury Yields all rose but the yield curve continues to recover from the temporary inversion last week. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices declined sharply. Brent Oil is hovering near $105 a barrel. The put/call ratio (PCCE) rose to 0.753. The CNN Fear & Greed index moved toward the Fear range but remains close to Neutral. All big six meg-caps declined. Nvidia (NVDA) declined by -5.22%, closing below its 21d EMA. Amazon (AMZN) lost -2.55%, dropping back below its 200d MA. The other four remain above their moving average lines but are showing the same volatility as the rest of the market. United Health (UNH) was at the top of the mega-cap list with a +1.52% gain. Alibaba (BABA) was at the bottom of the list, declining by -5.53% today. Alibaba topped the list yesterday. Only two stocks in the Daily Update Growth List, RH (RH) and Twitter (TWTR) ended the day with gains. RH gained +7.10% after Josh Brown of Ritholtz doubled his position in the company. Beyond Meat (BYND) was at the bottom of the list, dropping by -7.85%. The stock had plenty of company as more than half of the list declined more than 5%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead After the market opens on Wednesday, we'll get the weekly update on Crude Oil Inventories. The Meeting Minutes from the most recent FOMC gathering will be released in the afternoon, giving investors more detail into the conversations around inflation and the proposed Fed response. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq lost support at 14,500 on the economic data and then descended further after Brainard's public comments on inflation and the Fed response. If the index is to return to the trend line from the 3/14 low, it would require a +4.34% advance. That is not likely to happen in just one day. The five-day trend line is pointing to a +0.26% advance for Wednesday. If the one-day trend line continues, the index will test the 21d EMA with a possible decline of -1.51%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Why did Lael Brainard's hawkish views cause so much turmoil in the markets? She's considered one of the most dovish of the Fed governors. So it was a big deal when she said the Fed should draw down the balance sheet at a rapid pace. It also adds more evidence to the mix that the Fed will also raise interest rates by 50 basis points next month, compared to the 25 basis points last month. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 4/4Summary: Equities rallied on the first day of the week. Large-cap growth stocks drove the rally while Twitter soared 27% on news that Elon Musk bought a significant stake in the company. 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, April 4, 2022 Facts: +1.90%, Volume lower, Closing Range: 99%, Body: 92% Green Good: Higher high, higher low, great closing range Bad: Lower volume on gain Highs/Lows: Higher high, Higher low Candle: Mostly green body, small lower wick Advance/Decline: 1.18 Indexes: SPX (+0.81%), DJI (+0.30%), RUT (+0.21%), VIX (+0.16%) Sector List: Communications (XLC +2.76%) and Consumer Discretionary (XLY +2.25%) at the top. Utilities (XLU -0.77%) and Health (XLV -0.83%) at the bottom. Expectation: -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Equities rallied on the first day of the week. Large-cap growth stocks drove the rally while Twitter soared 27% on news that Elon Musk bought a significant stake in the company. The Nasdaq rose by +1.90%. Volume was lower than the previous day. The candle is 92% green body with a tiny lower wick and really no upper wick as the index ended the day with a 99% closing range. The higher high and higher low starts the week off in an uptrend. There were more advancing stocks than declining stocks. The S&P 500 (SPX) gained +0.81%. The Dow Jones Industrial Average (DJI) advanced by +0.30%. The Russell 2000 (RUT) rose by +0.21%. The VIX Volatility Index (VIX) moved higher by +0.16%. Five of the eleven S&P 500 sectors gained. Communications (XLC +2.76%) and Consumer Discretionary (XLY +2.25%) were the top sectors, the former helped by Twitter's big gain. Utilities (XLU -0.77%) and Health (XLV -0.83%) were at the bottom of the sector list. Factory Orders for February met expectations. The US Dollar index (DXY) rose by +0.43%. US 30y and 10y Yields rose while the 2y Yield declined. Both High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices advanced. Brent Oil rose back above $105 for a barrel. The put/call ratio (PCCE) declined to 0.640. The CNN Fear & Greed index is at the mid-point of Neutral. All big six mega-caps gained with Tesla (TSLA) leading the way, advancing +5.61% for the day. Amazon (AMZN) closed back above its 200d moving average, gaining +2.93% today. All big six are above their key moving averages. Alibaba (BABA) was the top mega-cap for the day. It advanced +6.62% along with many other Chinese stocks that rallied. Pfizer (PFE) was at the bottom of the list, declining by -1.22% today. Twitter (TWTR) was the top stock in the Daily Update Growth List. The company's stock price soared +27.12% after Elon Musk took a 9% stake in the company. Twitter was followed by Chinese Fintech companies. FUTU Holding (FUTU) gained +19.51% and UP Fintech (TIGR) gained +13.74%. There were no decliners in the list, but Crowdstrike (CRWD) landed at the bottom, advancing only +0.52% today. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tuesday morning will bring Import/Export data for February. We will also get the Services and Non-Manufacturing PMI data for March. The data shows the level of activity in those sectors. API Weekly Crude Oil stock comes in the afternoon. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq moved met resistance at the 14,500 level, but then closed above that level after a late-session rally. If the index returns to the trend line from the 3/14 low, that would mean a +2.17% gain for Tuesday. The one-day trend line points to a +0.77%. The five-day trend line is still sloping downward from the 3/29 high. That line ends with a -1.79% decline for tomorrow. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It was a good start to the week. Investors seem positive about the news of withdrawals in Ukraine. It also helped to have the shiny object of Twitter's rally to attract attention to the market. We'll see if the rally can continue this week. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 4/1Summary: Small-caps led the way higher on Friday, but defensive sectors continued to top the sector list with mixed news in economic data. 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=- Friday, April 1, 2022 Facts: +0.29%, Volume lower, Closing Range: 74%, Body: 5% Red Good: High closing range, recovery from dip Bad: Lower high, lower low Highs/Lows: Lower high, Lower low Candle: Thin red body in upper part of candle, long lower wick Advance/Decline: 1.1, more advancing than declining stocks Indexes: SPX (+0.34%), DJI (+0.40%), RUT (+1.01%), VIX (-4.52%) Sector List: Real Estate (XLRE +1.99%) and Utilities (XLU +1.40%) at the top. Technology (XLK -0.30%) and Industrials (XLI -0.78%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Small-caps led the way higher on Friday, but defensive sectors continued to top the sector list with mixed news in economic data. The Nasdaq rose +0.29%. The candle has a thin red body in the upper half and a long lower wick. Despite the high closing range of 74%, the candle has a lower high and lower low from the previous day. Volume was lower than Thursday. However, there were more advancing stocks than declining stocks. The Russell 2000 (RUT) outperformed the other indexes, moving up by +1.01%. The S&P 500 (SPX) advanced +0.34% and the Dow Jones Industrial Average (DJI) gained +0.40%. The VIX Volatility Index fell by -4.52%. Eight of the eleven S&P 500 sectors gained for the day. Real Estate (XLRE +1.99%) and Utilities (XLU +1.40%) were the top-performing sectors. Technology (XLK -0.30%) and Industrials (XLI -0.78%) were at the bottom of the list. Payrolls grew less than expected in March, with Nonfarm Payrolls gaining 431,000 compared to the forecast of 490,000. However, the unemployment rate declined to 3.6%, better than the expected 3.7%. The ISM Manufacturing PMI that shows the health of the sector, came in at 57.1 compared to the expected 59.0 The US Dollar index (DXY ) gained by +0.22%. The US 30y Treasury Yield declined while the 10y and 2y Treasury Yields rose. High Yield (HYG) Corporate Bond prices fell but Investment Grade (LQD) Corporate Bond prices gained slightly. Brent Oil ended the week below $105. The put/call ratio (PCCE) declined to 0.784. The CNN Fear & Greed index is on the Fear side, but near Neutral. Four of the big six gained for the day. Alphabet (GOOG) had the biggest gain, advancing +0.75% after testing its 200d MA. Tesla (TSLA), Microsoft (MSFT), and Amazon (AMZN) followed with +0.75%, +0.36% and +0.35% gains. Apple (AAPL) and Nvidia (NVDA) declined but only Amazon remains below its 200d MA. Verizon Wireless (VZ) was the top mega-cap for the day. The communications company gained +2.32% on Friday. Nvidia was the worst-performing stock in the mega-cap list. Stocks in the Daily Update Growth List did well for the day. Fastly (FSLY) topped the list with a +7.65% gain. Draft Kings (DKNG) was at the bottom of the list, declining by -2.16%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Factory Orders data for February will be released on Monday after the market opens. ZoomInfo (ZI) is among a shortlist of earnings reports to start the week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance Despite the daily gain, the Nasdaq put in a lower low and lower high on the day, continuing a downtrend over the last three days of the week. If the index returns to the trend line from the 3/14 low, that would require a +3.88% for Monday. Returning to that trend line would likely take a few days. The five-day trend line is in decline, but the index would still need a +0.25% to return to that line. The one-day trend line is also in decline despite ending the day with a gain. If the one-day trend continues, expect a -0.78% decline for Monday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up After two strong days on Monday and Tuesday, the Nasdaq entered a downtrend for the remainder of the week. It's not a bad thing, as it allows moving averages to catch up, keeping the market from getting extended. Oil prices seem to be coming down which is good. Maersk says that supply chain issues created by shipping costs could be resolved in a few months. That is good news. Market direction for next week depends a lot on the war in Ukraine. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 3/31Summary: No sector avoided losses among continuing worries over the war in Ukraine and the Fed's response to inflation. Chinese stocks moved lower on disappointing economic data and COVID outbreaks. 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, March 31, 2022 Facts: -1.54%, Volume lower, Closing Range: 1%, Body: 94% Red Good: Lower volume Bad: Closing range, advance/decline Highs/Lows: Lower high, Lower low Candle: Mostly red body, tiny upper wick Advance/Decline: 0.41, more than two declining for every advancing stock Indexes: SPX (-1.57%), DJI (-1.56%), RUT (-1.00%), VIX (+6.36%) Sector List: Utilities (XLU -0.11%) and Consumer Staples (XLP -0.24%) at the top. Consumer Discretionary (XLY -1.92%) and Financials (XLF -2.29%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview No sector avoided losses among continuing worries over the war in Ukraine and the Fed's response to inflation. Chinese stocks moved lower on disappointing economic data and COVID outbreaks. The Nasdaq fell by -1.54%. Volume was lower than the previous day but the 94% red body and 1% closing range show selling throughout the day. There is a small upper wick formed after open but then a sell-off in the last hour erased a lower wick leaving behind a thick red bodied candle. There were more than two declining stocks for every advancing stock. The S&P 500 (SPX) lost -1.57% while the Dow Jones Industrial Average (DJI) fell by -1.56%. Small caps held up the best with the Russell 2000 (RUT) declining only -1.00%. The VIX Volatility Index rose +6.26%. All S&P 500 sectors declined. Defensive sectors were at the top of the sector list. Utilities (XLU -0.11%) and Consumer Staples (XLP -0.24%) had the least significant declines. Consumer Discretionary (XLY -1.92%) and Financials (XLF -2.29%) were at the bottom of the list. PCE Price Index data was slightly lower than forecast. Weekly Initial Jobless claims came in at 202,000 compared to the forecast of 197,000. The Chicago PMI for March showed a stronger than expected manufacturing sector. The US Dollar index (DXY) grew +0.52%. US 30y and 10y Treasury Yields were lower while the 2y Yields increased. High Yield (HYG) and Investment Grade (LQD) Corporate bond prices moved lower. Brent Oil moved below $110, ending the day at $105.22. The put/call ratio (PCCE) rose to 0.787. The CNN Fear & Greed index is just on the Fear side of Neutral. The NAAIM Money Manager Exposure Index rose to 79.72 from 52.69 the previous week. All of the big six declined today. Alphabet had the biggest loss, declining by -2.10%. However, Amazon (AMZN) is the only one trading below any moving average line (the 200d MA). No mega-caps gained today. Costco (COST) faired the best, only declining -0.11%. The biggest loser was Alibaba (BABA), declining -6.67% to end up at the bottom of the list. The Daily Update Growth List had just eight stocks with gains. The best stock in the list was MongoDb, gaining +3.11%. Chinese stocks were at the bottom of the list with FUTU Holdings (FUTU) having the largest decline. The stock fell by -12.94%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow is payrolls Friday when we get the monthly look at employment data in the early morning. We will also get the ISM Manufacturing Purchasing Managers Index after the market opens. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq continued to pull back from the recent rally. If the index will return to the trend line from the 3/14 low, it would take a +4.49% gain which is not likely to come in one day. The five-day trend line points to a +2.80% gain. If the one-day trend continues, we can expect another -0.23% decline for Friday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Investor jitters drove selling today. The war in Ukraine. Continuing high inflation. Economic data from China amid COVID outbreaks. Those were the major themes and will continue to drive volatility in the days and possibly weeks ahead. We just ended the worst quarter for equities since the pandemic began. Here's hoping for a better Q2! Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Daily Market Update for 3/30Summary: Stocks pulled back after yesterday's rally as investors awaited any breakthroughs in the Russia-Ukraine negotiations. 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, March 30, 2022 Facts: -1.21%, Volume lower, Closing Range: 26%, Body: 52% Red Good: Lower volume on decline, still well above last week's close Bad: Closing range, lower high, lower low Highs/Lows: Lower high, Lower low Candle: Medium red body in middle of candle, equal upper and lower wicks Advance/Decline: 0.33, three declining for every advancing stock Indexes: SPX (-0.63%), DJI (-0.19%), RUT (-1.97%), VIX (+2.28%) Sector List: Energy (XLE +1.16%) and Utilities (XLU +0.83%) at the top. Technology (XLK -1.33%) and Consumer Discretionary (XLY -1.52%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Stocks pulled back after yesterday's rally as investors awaited any breakthroughs in the Russia-Ukraine negotiations. The Nasdaq fell by -1.21%. The decline nearly filled the gap-up at yesterday's open. Volume was lower than the previous day. The 52% red body sits in the middle of candle with equal length upper and lower wicks. The upper wick, formed in the morning. The index then declined, briefly pausing at 14,500 before moving lower. A quick rally before the close created the lower wick. The Russell 2000 (RUT) had the biggest decline, pulling back by -1.97% today. The S&P 500 (SPX) dropped -0.63%. The Dow Jones Industrial Average (DJI) declined only -0.19%, helped by a rally in energy stocks. Four of the eleven S&P 500 sectors gained. Energy (XLE +1.16%) was at the top of the sector list, followed closely by Utilities (XLU +0.83%). The other two gaining sectors were both defensive sectors. Technology (XLK -1.33%) and Consumer Discretionary (XLY -1.52%) were at the bottom of the list. GDP data for Q4 was lower than expected, showing quarter-over-quarter growth of 6.9% compared to expected growth of 7.1%. GDP Price Index data also came in lower than expected, possibly good news that prices are growing less quickly than thought. Crude Oil Inventories were lower than expected, helping boost oil prices today. Brent Oil prices moved higher on reports that Germany may ration oil and the US Crude Oil Inventories were lower than expected. The US Dollar index (DXY) declined by -0.58%. US 30y, 10y, and 2y Treasury Yields all declined and the inversion in the 10y and 2y started to recover. High Yield (HYG) Corporate Bond prices declined while Investment Grade (LQD) Corporate Bond prices rose. The put/call ratio (PCCE) declined to 0.627. The CNN Fear & Greed index is at Neutral. All big six declined. Amazon (AMZN) dipped back below its 200d MA but all others are well above moving averages. Novo Nordisk (NOVO) was the top mega-cap today, advancing +2.12%. UnitedHealth (UNH) followed with a +2.12% advance, helping the health sector end the day with gains. ASML Holding (ASML) was at the bottom of the mega-cap list, declining by -3.47%. The Daily Update Growth List had only three gainers. Lululemon Athletica (LULU) was at the top of the list, gaining +9.58% on strong earnings and a stock repurchase announcement. RH (RH) and Chewy (CHWY) both disappointed investors with their earnings and landed at the bottom of the list. They declined by -13.33% and -16.10% respectively. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead PCE Price Index Data along with Personal Spending for February comes in the morning. We will also get the weekly Initial Jobless Claims. After the market opens, the Chicago Purchasing Managers Index data will provide a look at manufacturing health. Walgreens (WBA) reports earnings tomorrow. The company will give one more look at the health of the Retail sector which so far had mixed results in earnings this week. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq pulled back from yesterday's rally. On the way down, it go support at 14,500 but then ended the day below that area. If the index returns to the trend line from the 3/14 low, that would mean a +2.83% gain for Thursday. The five-day trend line points to a +2.11% gain. If the pull-back continues, the one-day trend line ends with a -1.15% decline for tomorrow. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Investors, and the general public, were hoping for more of a breakthrough in negotiations to end the war between Russia and Ukraine. Negotiators on both sides needed time to write a formal agreement and get support from within their parties. Talks will resume in online formats on Friday. Germany has said it may start to ration oil. That caused Brent Oil to rise above $110 again today but is now back below that mark. Tomorrow's inflation data tomorrow will have the most influence over markets as we wait for better news from Ukraine. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Nasdaq composite (IXIC) deathcrossAs Russia/West tensions increase and US stock futures in red, it is easy to expect a further sell off in equities (the same should happen in crypto market). We already had a deathcross (Daily timeframe on top chart) on Friday and if you check past this pattern is actually bullish long term. Considering the Weekly chart, I am expecting a close below 30 RSI (11) this or next week. That would be another confirmation of the bottom. You can check BTC and TOTAL crypto mcap charts as similar oversold setup closing in on Weekly. Of course this does not mean we can't have further move down later this year, but once weekly closes below 30 on RSI and another week above its a very good confirmation we should see some rebound at least for the next good few weeks.
NASDAQ:IXICLong
by gigisulivan
Daily Market Update for 3/28Summary: More yield curve inversion in bond markets raised eyebrows while a drop in oil prices helped equities rally. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. I had a vacation last week and decided to stay away from the computer as much as possible, so no Daily Updates for the past week. Overall a constructive week for the market, but fear-driven volatility persists as global events unfold and the yield curve inverts for the first time since 2008. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, March 28, 2022 Facts: +1.31%, Volume lower, Closing Range: 100%, Body: 70% Green Good: 100% closing range, consistent gains after morning dip. Bad: Lower volume, and advance/decline ratio below 1.0 Highs/Lows: Higher high, Higher low Candle: Thick green body above a medium lower wick. No upper wick. Advance/Decline: 0.64, three declining stocks for every two advancing Indexes: SPX (+0.71%), DJI (+0.27%), RUT (+0.00%), VIX (-5.67%) Sector List: Consumer Discretionary (XLY +2.67%) and Real Estate (XLRE +1.27%) at the top. Materials (XLB -0.45%) and Energy (XLE -2.48%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview More yield curve inversion in bond markets raised eyebrows while a drop in oil prices helped equities rally. The Nasdaq gained +1.31% for the day, continuing the rally since March 14. Volume was lower than the previous day and there were more declining stocks than advancing stocks. So although the rally continues, it is slowing. That could be constructive, allowing for moving averages to catch up. Or it could mean another dip is ahead. The S&P 500 (SPX) gained +0.71%. The Dow Jones Industrial Average (DJI) gained +0.27%. The Russell 2000 (RUT) stayed flat. The VIX Volatility Index declined -5.67%, continuing to drop back to normal levels, but still elevated. Consumer Discretionary (XLY +2.67%) led the sector list, helped by Tesla's (TSLA) 8% gain. Real Estate (XLRE +1.27%) was the next best sector. Materials (XLB -0.45%) and Energy (XLE -2.48%) were at the bottom of the sector list. The Energy sector was brought down by a dip in oil prices. The 5y Treasury Yield rose above the 30y yield for the first time since February 2006. Inversions signal future recessions. The inversion in 2006 preceeded the 2008 Financial Crisis and a 60% correction in US equity markets. Brent Oil fell by -8.64% but remained above $105. The US Dollar index (DXY) rose +0.32% today. US 30y and 10y Treasury Yields declined while the 5y and 2y Treasury yields advanced. Both High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices rose. Silver and Gold both declined sharply. The put/call ratio declined to 0.654. The big six all gained today with Tesla (TSLA) leading the way with a +8.03% gain. Amazon (AMZN) and Microsoft (MSFT) followed with +2.56% and +2.31% gains. With Amazon moving above its 200d moving average, now all six are above the three key moving average lines. Tesla topped the broader mega-cap list as well. Big oil companies were at the bottom of the list with Royal Dutch Shell (SHEL) having the biggest loss, declining by -2.90%. The Daily Update Growth List did very well with only a handful of declining stocks in the list. At the top of the list was DoorDash (DASH), gaining +8.68%. GrowGeneration (GRWG) declined by -4.05%, ending down at the bottom of the list. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead How Price Index data for January will be available in the morning. After the market opens, we'll see CB Consumer Confidence for March and the JOLTs Job Openings for February. More Fed members are scheduled to speak tomorrow and investors will be watching for any aggressively hawkish comments. API Weekly Crude Oil Stock comes in the afternoon. Lululemon Athletica (LULU), Chewy (CHWY), RH (RH) are among some of the interesting earnings reports for Tuesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq seems to have support at 14,000 and is heading toward the support/resistance area of 14,500. If the trend from the 3/14 low continues, we can expect a +1.89% advance for Tuesday. The one-day trend line points to a +0.33%. If the index returns to the five-day trend line, that would mean a -0.72% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up It will be interesting to watch how the market reacts to more inversion in the yield curve. The higher yields on shorter-term Treasuries could be a combination of worries about the war in Ukraine, but also could be over fears of a recession induced by the Fed's attempts to control inflation. Typically, an inversion signals a recession that is still months to a couple of years away. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321
Corporations will face a tough enviorment over the next year(s)Our most recent boom was fueled by helicopter money and that helicopter is no longer around. Slump for 189 days, then rug to March 2020 lows? Imagine having the opportunity to buy tech stocks at generational low P/E's? It would be a once in a lifetime opportunity. Few get these chances.. very dependent on a broader recession, but with the idea of early slump now portrays the best bust cycle post-recession (roaring 20's super cycle). I have been stashing away my cash rather than investing it over the past 6 months. I bought the recent low, but sold today as a small swing trade. I am so excited to watch prices over the next few weeks.
NASDAQ:IXIC
by hodlthefuture
Are we here?NASDAQ:IXIC - The chart spans from the year 2000, to now. Looks familiar, doesn't it? The mega run-up, breaking major support lines, panic, then a giant bullish weekly candle pulling us back to the moving averages. Looks very very similar to our current chart, doesn't it? This move up and sideways could last for months and leave us blindsided, but the developments will unfold slowly enough to catch anyone off guard. Of course, we could keep trending sideways or higher for the rest of the year even, but don't be mistaken, this up move can't go on forever.
NASDAQ:IXIC
by kartk7
36
Where are we headed?NASDAQ:IXIC - The following screenshot is from the year 2000, the turn of the millennium. This looks familiar, doesn't it? The mega run-up, breaking major support lines, panic, then a giant bullish weekly candle pulling us back to the moving averages. Looks very very similar to our current chart, doesn't it? This move up and sideways could last for months and leave us blindsided, but the developments will unfold slowly enough to catch anyone off guard. Of course, we could keep trending sideways or higher for the rest of the year even, but don't be mistaken, this up move can't go on forever.
NASDAQ:IXIC
by kartk7
Daily Market Update for 3/18Summary: The Nasdaq had its best week since November 2020, rallying more than 10% from Monday's low to close with a +8.18% gain. 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=- Friday, March 18, 2022 Facts: +2.05%, Volume higher, Closing Range: 99%, Body: 89% Green Good: High volume advance, great closing range Bad: Nothing Highs/Lows: Higher high, Higher low Candle: Mostly green body, tiny lower wick, no upper wick Advance/Decline: 1.86, more than three advancing for every two declining stocks Indexes: SPX (+1.17%), DJI (+0.80%), RUT (+1.02%), VIX (-7.01%) Sector List: Consumer Discretionary (XLY +2.11%) and Technology (XLK +2.05%) at the top. Energy (XLE -0.09%) and Utilities (XLU -0.85%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview The Nasdaq had its best week since November 2020, rallying more than 10% from Monday's low to close with a +8.18% gain. The tech-dominated index rose +2.05% for the day. Volume was much higher thanks to a quadruple witching day where derivative contracts all expire the same day, causing an increase in volume. The candle is 89% green body with a 99% closing range, leaving behind a small lower wick created right after the market opened. The S&P 500 (SPX) climbed by +1.17%. The Dow Jones Industrial Average (DJI) rose by +0.80%. The Russell 2000 (RUT) advanced +1.02%. The VIX Volatility Index fell further, declining -7.01% today. Nine of the eleven S&P 500 (SPX) sectors gained today. Growth sectors led again with Consumer Discretionary (XLY +2.11%) and Technology (XLK +2.05%) at the top of the sector list. Energy (XLE -0.09%) and Utilities (XLU -0.85%) were the two declining sectors. Existing Home Sales for February declined -7.2% month-over-month. Much more than the forecast of a -1.0% decline. Brent Oil remained above $100, closing at $105 today. The US Dollar index (DXY) gained +0.22%. The US 30y and 10y Treasury yieldS declined while the 2y Treasury yield advanced. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices advanced. Gold and Silver declined. Timber continues to rise back toward its 2022 highs after dropping sharply this month. The put/call ratio (PCCE) declined to 0.676. The CNN Fear & Greed index is in the middle of the Fear range as it moves back toward neutral. A drop in market volatility and less demand for safe-haven assets is driving the move in the index. The big six made significant progress in their charts today. Nvidia (NVDA) is outperforming in the current rally, gaining +6.81% and well above its moving average lines. All six are above their 21d exponential moving average. Five are above their 50d moving average. Three of the six are above their 200d moving average. Alibaba (BABA) topped the mega-cap list with a +7.90% gain, beating out Nvidia for the top spot. Verizon Communications (VZ) was at the bottom of the list, declining -2.98%. In the Daily Update Growth List, UP Fintech (TIGR) was at the top. The company benefited from both the momentum in Chinese stocks and a great earnings report and outlook. The stock soared +33.66% today. The stock is up +73.42% for the week and over 100% from its low on Monday. The other Chinese stocks in the list also dominated the top spots. Only two stocks declined in the growth list, Solar Edge (SEDG) declined -0.66% and Penn National Gaming (PENN) lost -0.11%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead There is not much economic data scheduled for Monday, but Fed Chair Jerome Powell will speak in the morning. Nike (NKE), Pinduoduo (PDD), and Tencent Music Entertainment (TME) report earnings on Monday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq moved above the 13,800 and closed right just above the 50d moving average line. The one-day and five-day trend lines and the trend line from the 3/14 low all point to a gain of around 2% on Monday if the current momentum continues. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up I thought there might be a pullback in indexes today as investors take profits and protect from war news over the weekend. The optimism and high volume from expiring derivative contracts were enough to keep the strong rally from Monday's low alive. Stay healthy and trade safe!
NASDAQ:IXIC
by drewby4321