Nasdaq (-0.16%) closed a little bit lower than the day before. Even if the volumes were above the average for the red day, the index came back to the highs in the last 30 minutes of the session which might be bullish. Watching the SMA50/SMA200 area.
SP-500 (0.51%) closed in green, but with lower volumes. Notice the divergence between the strong advance during the last sessions and the decreasing volumes. Waiting for the institutions' money in the market for a breakout above the black line - the actual situation proves again that everything can happen.
In the news
British Finance Minister Rishi Sunak is expected to announce a new regulatory regime for crypto in the coming weeks.
ExxonMobil has been working with Denver-based Crusoe Energy Systems to mine bitcoin in North Dakota for over a year.
Biden says Putin “cannot remain in power”. Zelensky seeks more energy exports at the Doha summit.
Apple TV+ makes history as the first streamer to win the Best Picture Oscar.
Sectors
- Best yesterday sector:Energy, then Utilities. Worst sector: Consumer Cyclical.
- Best weekly sector:Energy, then Basic Materials. Worst sector: Healthcare.
- Best monthly sector:Energy, then Basic Materials. Worst sector: Consumer Defensive.
Sentiment
- NAAIM (weekly, neutral between 70 and 90): 52.69
- VIX (neutral under 20): 20.81
- Equity Put / Call Ratio (neutral between 0.7 and 1): 0.87
- CNN Fear & Greed: 46 (Neutral)
Breadth
- Stocks above SMA40 (neutral between 30 and 80): 56.47%
- Stocks above SMA200 (neutral above 30): 36.92%
- Number of stocks that increased yesterday by more than 4%: 231
- Number of stocks that decreased yesterday by more than 4%: 284
Earnings Reports
Earnings this week:
Noteworthy earnings reports for today:
What to trade today
Oils, Materials, Agriculture are very strong these days. Also, some very hard (hit) good fundamentals stocks are trying to come back to the highs.
Still watching: $CRWD, $DOCN, $NET.
Apple ($AAPL) offers a third good entry over $177. Stop Loss at 5%.
Celsius (CELH) shows a nice “mean reversion” pattern and I like the low volumes and declining ATR. Very good R:R. Buy over the black line with Stop Loss at EMA21.
Coibase ($COIN) might break out from this bottoming pattern while the main cryptos (Bitcoin, Ethereum) also passed their short-term resistance. Stop Loss at EMA21.
Do your due diligence if or when placing a trade. All ideas stated here are my own and do not represent trading or investment advice.
https://wallstreettrader.substack.com/
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