To The Moon

Nasdaq (+2.05%) continued higher and closed above the SMA50 and recent support. The volumes were strong and it seems the price is ready to advance. But, generally, after such a positive 4 wide bars, a rest or even a (small) retracement is highly probable. Next stop SMA200?! We will see.

SP-500 (+1.17%) also closed strong last week and it is very close to passing the SMA200, an important milestone for institutional attention. This triple bottom / W pattern suggests future positive action, but be prepared for a pullback as well.

In the news

Oil prices jump again on Russia-Ukraine fears, as IEA calls for a cut in energy usage.

Saudi Aramco’s full-year profit more than doubles on soaring oil prices.

U.S. health experts are warning a highly contagious Covid omicron variant, called BA.2, could soon lead to another uptick in domestic coronavirus cases.

Porsche discussed possible joint projects with Apple.

Biden is going to Europe. The limits of supporting Ukraine are on full display.

Home sales fell last month due to the low supply of existing homes and increasing mortgage rates.

Sectors

• Best yesterday sector: Consumer Cyclical, then Technology. Worst sector: Utilities.
• Best weekly sector: Consumer Cyclical, then Technology. Worst sector: Energy.
• Best monthly sector: Utilities, then Energy. Worst sector: Consumer Cyclical.

Sentiment

• NAAIM (weekly, neutral between 70 and 90): 46.68
• VIX (neutral under 20): 23.87
• Equity Put / Call Ratio (neutral between 0.7 and 1): 0.78
• CNN Fear & Greed: 37 (Fear)

Breadth

• Stocks above SMA40 (neutral between 30 and 80): 56.71%
• Stocks above SMA200 (neutral above 30): 36.33%
• Number of stocks that increased yesterday by more than 4%: 764
• Number of stocks that decreased yesterday by more than 4%: 157

Earnings Reports

UP Fintech Holdinghopped 30.98% to fourteen-week highs after its unaudited Q4 earnings report. $TIGR grew revenue by 32% YoY.On Holding($ONON)ran up 13.84% after announcing another record year of sales. Net sales rose 53.7% to $204.3 million.

Earnings reports for this week:

Noteworthy earnings reports for today:

What to trade today

Good trades last week ($TSLA, $BILL, $PRFT, $COIN, $DE, $MELI), just adjusting the Stop Losses where the case.

Dutch Bros ($BROS) is very close to its recent resistance and it might pass it if the market is good. Stop Loss: $57.30.

Nucor ($NUE) is holding very well above the EMA21 and all the visits to the mentioned average were immediately bought. If volumes come in above the black line, it can be bought. Stop Loss at Friday low.

Enphase Energy ($ENPH) is about to breakout. If the price passes the resistance at ~$187, it can be bought with Stop Loss at Friday low.

Oge Energy ($OGE) consolidated very nicely and it might popup above the black line. If so, you may use a Stop Loss at EMA21.

Reliance Steel & Aluminium ($RS) consolidated in time and might breakout above the black line. Stop Loss at Friday low.