Stocks continued their sell-off from the highs for a second day, and NFLX could pressure them further. After the bell, Netflix (NFLX) reported earnings but the share price fell, putting a focus on tech stocks and other key sectors. In tonight’s video, Corey highlights the current – overdue – “snap-back” pullback along with key levels and upcoming earnings for the week.
With the monsters of tech, financials, and energy relatively flat what’s moving the markets lower? Here’s the concentration of risk in the markets and why you should be aware if volatility is coming back…
Market update——Bullish grind goes on—Options/futures volumes decline—SPX hits upper edge of EM—EM on indices and sectors Bonds behaving badly–bond impl vol and IV Rank–bonds suffice for a premium sale Financials smoke earnings and slop around! Dichotomy of market opinion——Cathie Wood Buys 350 million COIN—David Einhorn says markets are broken—crypto goes mainstream VVIX continues its assent SPX Expected Move–last week– 57.96 (expected move)–next week– 54.43
Don’t feel bad if you felt a little confused by today’s outcome with financial stocks reporting strong earnings but their price fell, stocks surged to yet another new all-time high, yet bonds surged right along stocks. It’s enough to make your head spin. In tonight’s video, Corey highlights these developments and the drop in Treasury yields as stocks remained resilient with new highs locked in today…
COIN direct lists (IPO) coincides with a reversal in the NASDAQ today. The great rotation game continues as the Russell rallies while the NASDAQ moves lower. Here’s what to look for in the remainder of the week…
Strength in leading tech stocks along with Tesla (TSLA) sent the NASDAQ, QQQ, and XLK flying to new highs today, catching up with the SP500 which extended its journey to new highs. However, other sectors and the Russell 2000 (/RTY and IWM) were weaker. In tonight’s video, Corey highlights these new developments along with key financial stocks beginning their earnings releases that could spark volatility.
A quiet market today, but don’t let that fool you. Bank earnings are on deck and with the heavy volume in the bond market it might be foreshadowing a big move in the financials. Here are the kinds of trades I’m looking at this week in financials…
Who Buys the All-Time High? Shorts SqueezedRetirement FundsCall BuyersBona Fide HedgersRetail Investors Bonds lost their mojo this week VIX call Spread Buyer may not be a bear! We smashed expected move SPX Expected Move–last week EM– 57.96–next week– 57.96 expected move
The SP500 crept to a new all-time closing high today but take a moment to look beneath that headline to what’s happening behind the scenes of the SP500. In tonight’s video, Corey steps you inside the market’s action to listen for a clear message from bonds, Gold, and other hidden signals you might be missing.
It’s been a great time to sell options premium as the market has flat lined in the last 2 trading days. Theta decay has really kicked in and we have been doing well in our Ultima TheoTheta portfolio.
