Jan 24, 2022 • 3M

Market Thoughts - 1/23/2022

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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.

Market Recap

Wall Street indexes ended very sharply on Friday. Friday ended on a very weird, and bad, note. We talked last week about some of the big earnings that were happening. Some went bad, which caused the competition to go bad as well. Netflix shares tumbled 22%, which caused Disney to fall 7%. This caused SPY and DOW to turn down sharply, respectively.

The tech sector decline has been there since the start of the year. This could be to multiple contributing factors. Treasury yields and interests rate are at the technical levels of the decline. From a fundamental standpoint, it seems like the tech sector is reacting from everyone beginning to go back to their post-pandemic lives. You can see this in streaming services, and others like Peloton.

Week Ahead

I expect this to be a rocky week, stocks should turn up soon. Could it be this week? Technicals say yes, but lots of meetings and

As 1/23/2022, Futures open green.

FinViz Futures - https://finviz.com/futures.ashx

The Federal Open Market Committee (FOMC) is meeting this week for two days. This will start Tuesday. The central bank is expected to release information on Wednesday that it is speeding up the tapering of bond purchases. This is an attempt to combat the serious inflation happening before our eyes.

Notable earnings this week:

  1. Apple - Thursday

  2. Microsoft - Tuesday

  3. Tesla - Wednesday

  4. Boeing - Wednesday

  5. Intel - Wednesday

  6. Johnson & Johnson - Tuesday

There are so many more, but these catch my eye the most.

Crypto Recap

There was some serious FUD in the crypto market this week. With the stock market struggling to find a bottom, it took the crypto market with it. The Russian ban also affected the market, which is interesting to me considering the fundamentals of crypto.

This chart is going to be ugly, warning. The RSI on the Bitcoin Daily is back near COVID March 2020 lows. The difference is the price.

With the dump, find strong coins with high conviction. FTM, ATOM, NEAR, and LUNA all held the 200 EMA’s on the Daily. STRONG COINS.

Have a good week and let’s make some money.

Latest News

Pandemic darlings face the boot as investors eye return to normal life. Read More

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Biden Administration to Release Executive Order on Crypto as Early as February: Report. Read More

Bitcoin Heads for Worst Week in 8 Months as Traders Lament 'Pikachu Pattern'. Read More


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