Jan 16, 2022 • 3M

Market Thoughts - 1/16/2022

 
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Nick Conn
Bringing you insight on technology, crypto, and stock market investments.
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Hello Investors,

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.

Keep in mind, the stock market is closed on Monday, January 17th, in observance for Martin Luther King Day.

Market Recap

Friday at close we saw SPY pushing higher going into the long weekend- usually a rare occasion. The DOW was dragged down by financials after earning results were down from big banks. Treasury yields climbed slightly, the dollar gained, and gold fell.

Week Ahead

Earnings season is beginning. You can expect to have some capital ready to deploy into your favorite companies.

Goldman Sachs is scheduled to report their fourth-quarter earnings on Tuesday. This will be a good indication of global market performance and investment banking.

Thursday, the Labor Department is expected to show weekly jobless claims. The claims are expected to be down by 10,000 to 220,000. Let’s see how that affects the market, if true.

Notable earnings this week:

  1. Bank of America (Wednesday)

  2. Netflix (Thursday)

  3. United Health (Thursday)

  4. Proctor & Gamble (Wednesday)

  5. Morgan Stanley (Wednesday)

  6. United Airlines (Wednesday)

  7. American Airlines (Thursday)

Gary Gensler is expected to be speaking on Wednesday about his 2022 priorities.

Crypto Recap

Bitcoin pushed higher while following the late push with SPY. Bitcoin has continuously held 42k as support. Which is a very good sign. We had an oversold bounce on the RSI, which means buyers still like it at these levels. That is good for short term action, more-so than long term. It is good for both, make no mistake.

While Bitcoin is chopping in range, this means that alt coins will pop. You had Dogecoin pop with big volume on the news Elon Musk, and Tesla, are now accepting the coin as currency in their store.

FTM (Fantom) is getting increased volume, almost hitting all time high at the time of this writing.

Latest News

Bitcoin Holding Support Above $42K; Resistance at $45K-$47K. Read More

Musk says Tesla to accept dogecoin for merchandise. Read More

Walmart Preparing a Metaverse Push, Trademark Filings Show. Read More

Get ready for the climb. Here’s what history says about stock-market returns during Fed rate-hike cycles. Read More

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You are receiving this letter because you signed up or purchased a course through me. Feel free to unsubscribe if you do not find this valuable.

Nothing in this email is intended to be financial advice. Always do your own research.

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