Good morning
Equities have had an impressive rally back after last weeks volatility. Fears of inflation and a new Fed potentially being overly aggressive with rate hikes and sending the economy into a tail spin appear to have abated for now. It always amazes me how quickly sentiment can change.
Technically we have reclaimed some key moving averages in some indexes/sectors and we have also had a strong earnings season. Personally, I was hoping for another retest of the lows but as I have said many times the markets do not really care what I want. We are up 5 days in a row heading into a long weekend with the markets closed on Monday for Washington's Birthday. Equities are gapping up this morning but it would not be a huge surprise if we were to see some profit taking heading into the weekend giving us either a flat to slightly lower close.
Announced a new contract potential swing or long term hold play flirting with 23 roll I like it in this area for potential entry look to see when they have earnings also some M&A in the sector
Potential day trade opp thicker stock got a lil pop yesterday potential red to green with entry close to 2
Aerospace defense name testing 200 day may need to consolidate a bit here more of a swing play for me look for a pull to potential price support for entry 6.50-7 could be ideal
Pr after the close lil gapper already did an offering in October no financial metrics in the PR but looks like a significant contract It tends to be a pop and flopper so do not chase and play size appropriate
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Today's Economic Calendar
8:30 Housing Starts
8:30 Import/Export Prices
10:00 Consumer Sentiment
10:00 E-Commerce Retail Sales
1:00 PM Baker-Hughes Rig Count
