Yesterday (31 Jan) was the last trading day of Jan 2023.
Stocks jumped to end January on a strong note.
By the time market closed :
US market performance on 31 Jan 2023 (Tue)
- DJIA : +1.09% (+368.92 to 34,086.04).
- S&P 500 : +1.46% (+58.83 to 4,076.60).
- Nasdaq : +1.67% (+190.74 to 11,393.81). Best showing ytd BUT has not recovered from the drastic 30 Jan's -1.96% loss.
The 3 Indexes Overall Sentiments :
3 Indexes Moving Averages dated 31 Jan 2023
- All three indexes' Moving averages of 200-day, 50-day and 20-day are indicating that market is in an uptrend momentum.
- The "weakest" index of the 3 would be Nasdaq because it has just surpassed its 200-day MA by 97.61 points only.
Semiconductor stocks' Jan 03 to Jan 31 performances
- Is Semiconductor stocks worth a look now ?
- $Advanced Micro Devices(AMD)$ Q4 2022 earnings and revenue slightly beat expectations. Stock is working on a bottoming base with a $79.33 buy point. It's well below the 200-day line, but a real breakout would involve clearing that key level.
- Rival $NVIDIA Corp(NVDA)$ edged lower in late trading. Stock rose nearly +2% to $195.37 on Tue (31 Jan), in buy range from a short cup base.
- Looking at the selected Semiconductor stocks - 3 of 4 have risen in Jan 2023; only 1 of 4 (Intel) slipped due to weak Q4 2022 earnings report.
How Will US Market Behave On First Trading Day In Feb 2023 ?
US pre-market indicators and Bitcoin & Ethereum prices
- Looking at US Pre-market indicators (above diagram) - Red !
- Bitcoin & Ethereum prices for last hour & 24 hours (above diagram) - Green & Green ! *Note : Bitcoin has broken thru the $20,000 barrier; is it poised to take off or is there manipulation by the whales ?
- Asia markets (ASX - Green !, Nikkei - Green !, KOPSI - Green !, HSI - Green !) - All in full force to celebrate Chinese New Year perhaps ? LOL !!
- EU markets - -(DAX -Green !, FTSE -Green !, CAC - Green !).
With both Asia and EU markets rolling in the Green, is it possible that US market languishes in the Red ? Or is it just Pre-Fed announcement jitters ?
- Do you think the US market will rally when the 0.25% interest hike is announced ?
- Do you think the US market will rally if a 0.5% interest hike is announced instead ? Quite unlikely but you never know, the Fed might just throw a curve ball right ?
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