I wanted to shoot you a little update on some market trends and news that caught my eye. Keep in mind these are subject to change every day. The financial markets are very over-reactive. Any slight news can destroy the thoughts here.
We didn’t have a market thoughts release last week. Super Bowl Sunday, my poor Bengals. We’ll get ‘em next year.
The US Stock Market is closed on Monday, February 21st, for President’s day. The long weekend, along with investors being nervous about gaining tensions between Russia and Ukraine caused the markets to close lower Friday.
We are seeing some pretty incredible sales for “higher risk assets”. Some big named companies’ price actions are looking like crypto alt-coins. Pretty incredible to watch some of the best companies in the world bleed. Just remember, there is nothing new these companies are doing. Starbucks is still serving millions of cups of coffee per day, PayPal still has the same amount of users and transactions, we could go on and on. If you are a long term investor; buy, zoom out, and relax.
Let’s keep an eye on Futures.
Believe it or not, there is actually other news rather than Russia, Ukraine, and America. On the US economic schedule, the government is expected to release news that the economy grew 7% in the fourth quarter of 2021. Inflation, recessions, and everything else looming in the background. It is a very interesting time to be in the financial markets. The markets are confused, to sum it up.
We have more earnings this week.
Moderna - Thursday
Lowe’s - Wednesday
Alibaba - Thursday
Ebay - Wednesday
When the risky assets of the stock market are selling off, crypto has been too. Crypto is also in a confused state. Inflation is running high, crypto is supposed to be a hedge to inflation, but it’s being considered a risk asset.
Crazy news in crypto this weekend; from bug bounties to OpenSea getting their smart contracts hacked. The crypto market didn’t take either one of those headlines lightly. We are back under 40k for Bitcoin.
OpenSea sent out a series of tweets on Saturday night stating their system might have been a victim of a phishing attack. Users were claiming that their NFTs had been stolen.
I still am watching the bottom oscillator on the weekly time frame. It has been a great indicator of market cycles. The indicator is known as the TTM Squeeze.
Enjoy Monday off, unless you’re a crypto trader!
Have a good week and let’s make some money.
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Nothing in this email is intended to be financial advice. Always do your own research.