US market 03 Jan. First day. TSLA will / won't contd rise ?
There's a quotation that I always gravitate towards at the start of a new year : Out with the Old and In with the New.
It kinda allows one to start "afresh"; leaving the undesired of 2022 behind.
In investment, undesirables (to me) would be - FOMO, procrastination, chasing after a rising price stock etc...
To start off on the right footing, it is still necessary to review the last trading day of 2022 and plan our new strategy for 2023.
Recap of 30 Dec 2022:
2022 last trading day - 30 Dec
3 Indexes perf for (a) last week of Dec (b) mth of Dec (c) for Year 2022
- Nasdaq was outright the weakest performer in 2022; losing -33.10%
- This was following by S&P 500; falling -19.44%
- Last but not least, Dow Jones; falling -8.80%. Stocks in DJIA are resilient.
3 US Indexes' moving averages (MA) are Weak.
- None of the 3 indexes exhibit clear indications that it is securely in an uptrend motion currently.
Final assessment of US market in year 2022:
Stock Market fall compared to year 2008
Looks like Wall Street has consciously or unconsciously compared 2022 perform with that of year Y2K (early 2000s).
The stock market seems nostalgic for the early 2000s as technology is once again turned its back on technology.
S&P 500 in 2022 - communication services was the worst performing sector, falling > -40%, followed by consumer discretionary.
Energy was the only sector to rise, climbing +59%
What's It Gonna Be On First Trading Day ?
US pre-mkt indicators and Bitcoin & Ethereum prices on 03 Jan
- Looking at US Pre-market indicators (refer to above diagram) - Green !
- Bitcoin & Ethereum prices (refer to above diagram) - Green & Green !
- Asia markets (ASX - Red !, Nikkei - Green !, KOPSI - Red !, HSI - Green !)
- EU markets -(DAX - Neutral, FTSE - Red !, CAC - Neutral).
Are the perceived green-shoots of optimism ready to bloom anytime soon ?
Will all these positivity ebbed sooner than expected as the US governing bodies convene as per annual practise.
Will Tesla continue with its upwards rise today ?
- Fact: $Tesla Motors(TSLA)$ rose +1.12% to $123.18, on 30 Dec 2022.
- Question on everyone's mind is will Tesla's wining streak continues today ?
There is a potential cause for concern because :
- Tesla's Q4 2022 record production & deliveries stands at 405,278 EVs
- Wall Street's expectations is 431,117 EVs {accordingly to Refinitiv}
- We all know what happens when a stock doesn't meet Wall St's expectations, dun we ?
- Analysts cited demand weakness in China (World's top auto market). Could this be the reason for Tesla's two price-slash promotions in Shanghai, China on 24 Oct & 22 Dec?
- Closer to home (US), Tesla is encountering stiff competition from legacy automakers such as $Ford(F)$ , $General Motors(GM)$ , EV newbies - $Rivian Automotive, Inc.(RIVN)$ and $Lucid Group Inc(LCID)$ ; all jostling for a piece of the cake.
- Do you think Tesla's stock price will continue to rise today despite not meeting Delivery numbers ?
- Do you think a new party-majority House of Rep government will affect the US stock maret in 2023 ?
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Matching song ? First time by Robin Beck. Think its a Coca Cola ad song ? Dunno ? YouTube it !
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rise together