Nasdaq Bottoms at Important SupportOn 05/12/22 the Nasdaq Composite (IXIC) bottomed at important Point & Figure Support. Note five - column support in the 11086 area. Important seven - column resistance in the area of 13322. Mark Longby markrivest227
working out some kinksthe large gap at 11,187 finally filled with a bounce! good sign that the destruction in the nasdaq stocks could be nearing a turning point. real company earnings are doing quite well and most stocks have been absolutely crushed. the nasdaq 100 has held up more likely bc megacap tech has taken a beating last which likely to continue some more. good news for stocks that have been overly punished -40% or more with great fundamentals, bottoming is a process as they say!Longby saltysaver1
1995-1998 fractalI have placed the fractal from 1995-1998 over 2016-2022 and there are very strong similarities in the price action. During the majority of the 1990s bull market the nasdaq comp made very aggressive moves up followed by very sharp 20-30% corrections. This is very similar to market we are in now with multiple corrections like this that have happened. With the Nasdaq Comp down 30% and testing the 150wma we could expect a very sharp recovery soon.Longby Yogigolf8
identical scenario could trigger a significant relief rallyHello trading family: After long time of being on the sidelines i decided to start preparing my shopping list for the next possible relief rally. I don't want to call it a " bull run " like we had back in march 2020 since we have a much complicated macro economic and geopolitical scenarios. we have a sky rocket inflation and a very hawkish fed , we have the war in ukraine and the lockdowns in china. take a look at the nasdaq chart. we went down about 33% during the covid crash , and we are 30% down now since the last peak in nov 2021. we can see on the chart that we about to meet again with the 200 ma. last time that happened , we enjoyed a very strong rally. lets hope we will get some green consecutive days. Longby TFL20200
Nasd - line in the sand?Nasd currently at the 50% fib and very close to the 200 week ma. Support failure here drops price to the fib golden pocket around 10k. This is what progressive police does to a country. Just a heads up...Careful! Shortby ralis24222
IXIC US Composite Nasdaq Corrects 50% from swing of 2020! Over? IXIC US Composite Nasdaq Corrects 50% from swing of 2020! Over? #IXIC #NASDAQ #US30 #RUT #SPX500 NASDAQ:IXIC corrects 50% from the swing of 2020 bottoms. Is it over? Economic fundamentals claim it has not bottomed out yet. Most of the IT stocks gave the way for this correction. #TSLA #AMZN #FB #NFLX and so on to name. Is it time for investment? Yes, for a long term holder who is not bothered with a small dips of 5-7% further fall, should start investing. Are you salaried class person with a constant earning coming every month end? Or u have a business with a strong mindset of risk management and risk handling? Be prepared with your investment plans! Personal Finances and Taxation. Earnings and Expenses. Savings and Return on Investment All are to be aligned in this latest world of increased necessities and demands with scarcity of resources. As we have always read, this is actually happening in front of us. Are we prepared? Inflation and Unemployment will tame our greed and carelessness towards resources. Investment opportunities? Ample of opportunities, waiting for appropriate investment entry. Start investing start trading. Tradingview ! #tradingview.Longby Rachit_Sethia1
Nasdaq Composite vs Money Supplyupward channel from 08-09 recovery, not exact of course and may have broken trend but when considering money supply not much is as inflated as people would thinkLongby sonny1523112
US Composite index heading for 10KUS Composite index formed H&S from July 20, 2020 - April 18, 2022 breaking the neckline on 18th April. It's heading down to 10K to be precise 97xx levels which also forms a support. So choose your side accordingly. GL Trading.Shortby saketgoyal761
SPX500 manic mondayWatch for support under 4k - bounce could be minor or major. A crack below 3900 this week is a bad sign for bulls, I doubt it happens so quickly TBH.05:17by the_sunship4
Nasdaq historyMarket history for long term investors. Market is in a big channel and sill healthy for long term. 16:40by mkanik3
Daily Market Update for 5/6Summary: The market continued to correct as the US Dollar strengthened and Treasury yields rose on Friday. Defensive sectors in the S&P 500 gained while other sectors sank. Notes A brief update today due to holidays and travel. I will be traveling for the next week as well but will try to keep the Daily Market Update going. Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Friday, May 6, 2022 Facts: -1.40%, Volume higher, Closing Range: 42%, Body: 28% Red Good: Closing range is ok Bad: Lower high, lower low, higher volume sell-off Highs/Lows: Lower high, Lower low Candle: Thin body in middle of long upper and lower wicks Advance/Decline: 0.27, almost four declining stocks for every advancing stock Indexes: SPX (-0.57%), DJI (-0.30%), RUT (-1.69%), VIX (-3.24%) Sector List: Energy (XLE +2.98%) and Utilities (XLU +0.80%) at the top. Materials (XLB -1.43%) and Communications (XLC -2.06%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview A brief update today due to holidays and travel. The market continued to correct as the US Dollar strengthened and Treasury yields rose on Friday. Defensive sectors in the S&P 500 gained while other sectors sank. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Fed's Raphael Bostic is scheduled to speak on Monday. Bostic is on the hawkish side of the Fed and could stoke fears of higher interest rate hikes despite Jerome Powell's assurance they would limit to 50 basis points. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq fell to 12,000 before getting support on Friday. Some analysts have forecasted 12,000 as the bottom during this correction, but time and the market will tell if that's true. The 40w EMA is at 11,750.07. The index dipped below this line only in the 2000, 2008, and 2020 crashes. If the index returns to the trend line from the 3/29 high, that would mean a +0.66% gain for Monday. The one-day and five-day trend lines point to a -0.67% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Analysts have been waiting for broad market capitulation and maybe we've seen some over the past two days, or maybe there is more to come. Watch the two levels at 12,000 and 11,750. If those levels hold, then we could see some upside from there. Stay healthy and trade safe! by drewby43213
Nasdaq 2000 vs Nasdaq 2022So many similarities... 1. Mass participation of retail 2. Enthusiasm about new technology! it was .com back then it is crypto now! 3. Failed IPOs/SPACs 4. Is it that obvious??? We just don't fight the FED? no technical analysis, no fundamental, no politics, NOTHING??? 5. Can the bomb fall twice in the same place? Let's all short Nasdaq and make money right??? not so sure... by Philoslother6
Legend for TL Swing , H S&R , DB DT F BOLegend ================= TL Swing , H S&R , DB/DT (F BO) --------------------------------------------------------------- Check List: ------------------ 1) 3T TL BO 2) DB/DT & F BO 3) H S&R BO 4) Sustain above S&R and special bar @ option chart (Big bar, Pin bar, Inside / outside bar) 5) HH Entry 6) Compare Nifty & BN enter when form good pattern ----------------------------------------------- 6) Only entery high probability Trade (3 Trades Weekly double your money) 7) Exit only @ TP or SL or BE (more than 20p / 30m)by satheeshvel150
IXIC - Rebound or falling further Comment : 1) Nasdaq Index has came to (e) Lv-2 target. Will it be rebound on Lv-2 or breakdown further more? 2) FundFlow+ indicator - Fund flow trend going downward 3) Tricol+ indicator - no banker-/weak- sentiment Support & Resistance : S : 12070 Remark : - Length of ab = cd = de = ef DISCLAIMER : Analysis above SOLELY for case study purpose, not a PROFESSIONAL ADVISE. This analysis does not provide any trading advise and buy or sell. Trade at your own risk. Trade only after you have acknowledged and accepted the risks involved.by TheWinningDay0
Bear Market Rallies during Dot.com bubblesAfter 2000, the Nasdaq had # of the bear market rallies > 10% averaging 22.7% before bottoming down 78%. by WinterIsComing19291
Daily Market Update for 5/5Summary: The Wednesday rally did not last and in a whiplash move markets sold off on Thursday, with some of the worst single-day losses since 2020. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Thursday, May 5, 2022 Facts: -4.99%, Volume lower, Closing Range: 22%, Body: 78% Red Good: Lower volume Bad: Big decline, lower high, lower low, advance/decline ratio Highs/Lows: Lower high, Lower low Candle: Mostly red body, short lower wick from late dip buying Advance/Decline: 0.15, more than six declining stocks for every advancing Indexes: SPX (-3.56%), DJI (-3.12%), RUT (-4.04%), VIX (+22.74%) Sector List: Utilities (XLU -1.02%) and Energy (XLE -1.50%) at the top. Technology (XLK -4.81%) and Consumer Discretionary (XLY -5.60%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview The Wednesday rally did not last and in a whiplash move markets sold off on Thursday, with some of the worst single-day losses since 2020. The Nasdaq plummeted by -4.99%. Volume was lower than the previous day. The candle has no upper wick, a 78% red body, and a 22% closing range. There were over 6 declining stocks for every advancing stock. The Russell 2000 (RUT) fell by -4.04%. The S&P 500 (SPX) declined by -3.56%. The Dow Jones Industrial Average (DJI) declined by -3.12%. The VIX Volatility Index shot up by +22.74%. All eleven S&P 500 sectors declined. Utilities (XLU -1.02%) and Energy (XLE -1.50%) were at the top of the list. Technology (XLK -4.81%) and Consumer Discretionary (XLY -5.60%) had the worst declines. The weekly Initial Jobless Claims rose to 200,000 this week, topping the forecast of 182,000. Nonfarm Productivity for Q1 dropped more than expected, receding by -7.5%. Unit Labor Costs for Q1 rose more than expected, rising by 11.6% instead of the 9.9% forecast. After dipping yesterday, the US Dollar Index (DXY) jumped back to recent highs, gaining +1.01% today. US 30y, 10y, and 2y Treasury Yields all rose. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices declined. Brent Oil reached again $110 a barrel. The put/call ratio (PCCE) rose to 0.881. The CNN Fear & Greed index moved back toward Extreme Fear but is still in the Fear range. The NAAIM Money Manager Exposure Index rose to 57.18 from 46.25 the previous week. All of the big six mega-caps had huge losses. Tesla (TSLA) led the declines with a -8.33% drop today. Only Meta (FB) held above the 21d EMA and 50d MA lines, despite a -6.77% decline today. Only one stock in the Daily Update Growth List gained. Twitter (TWTR) rose by +2.65% as more financial support came for Elon Musk's purchase of the company. More than ten stocks on the list declined by more than 10%. Fastly (FSLY) ended up at the bottom of the list with a -18.09% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow is Jobs Data Friday. Nonfarm Payrolls, the Unemployment Rate, and other jobs-related metrics will be released prior to the market opening. Four Fed officials are scheduled to speak throughout the day. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq reached the 13,000 support/resistance area yesterday but was rejected and sent tumbling today. If the index returns to the five-day trend line, that would mean a +0.88% gain for tomorrow. The trend line from the 3/29 high points to a -1.45% decline for tomorrow. If the one-day trend line continues into Friday, that would mean a -3.62% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up What a wild ride from yesterday's late afternoon rally to today's dramatic sell-off. It's unclear what drove yesterday's rally vs today's reposition. Could it be yesterday's relief over a 50 basis point increase vs the fear 75 basis point increase that drove the rally? And then as the additional two increases announced for June and July sank in, that drove today's decline? I don't know. Someone much smarter than me is making those decisions somewhere. Let's see if we get a rebound on Friday or if the pain continues. Stay healthy and trade safe! by drewby43217
Nasdaq Composite: sell the rumor, BUY the news! The investors have been panicking about rate hike, Russian war, oil price, inflation and recession for a couple of months. Recently the traditional 'collapse after rate hike' has become 'panic before rate hike, rally after rate hike'. This is because the fed has been more communicative about the rate hike, and the market is full of investors who try to be the fastest and often overreact. The bond market has shown some investors are expecting a 75 bps rate hike instead of 50 or 25 bps. This assumption is obviously ridiculous, so the investors became extremely relieved and excited after 4 May 2022 at the news of the 50 bps rate hike. The recession panic is also fading as investors realise the American economy remains strong and the Russian war or Chinese lockdown is not the end of world. This relief, coupled with the inflow of bargain hunters will send IXIC to the 0.618 resistance of 14680 and 0.786 resistance of 15354, in a matter of weeks. Then IXIC will probably consolidate between 14680 and 16212 for a while, and collapse again in September. Investors consider October as the worst month because they can't forget the disasters of October in 1929 and 2008. Therefore they tend to sell in September to avoid the perceived October disaster, making September an actually worse month than October. This pattern will combine with another wave of recession panic about rate hike and quantitative tightening, making September, October and possibly the first three and half weeks of November the bearish months of 2022. The long term trend remains strongly bullish as I have stated multiple times since 2019, so every major correction is an excellent opportunity to buy at discount.Longby MarcusAuUpdated 3
IXIC Buy AreaToday i think the Contrarian Investing is a good idea: "Buy When There's Blood in the Streets". IXIC has entered the strong support/volume area which is a buy opportunity in my opinion for a reversal. The next resistance is 13625. Looking forward to read your opinion about it. Longby TopgOptions444
Daily Market Update for 5/4Summary: Jerome Powell gave unexpected but specific guidance on not only today's interest rate hikes, but also the next two. In addition, the specifics around reducing the balance sheet helped squash the fear that the Fed would move too fast. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wednesday, May 4, 2022 Facts: +3.19%, Volume higher, Closing Range: 97%, Body: 63% Green Good: Gain on higher volume, strong afternoon rally with 97% closing range Bad: Lower low Highs/Lows: Higher high, Lower low Candle: Outside day, thick green body over a long lower wick, tiny upper wick Advance/Decline: Indexes: SPX (+2.99%), DJI (+2.81%), RUT (+2.69%), VIX (-13.09%) Sector List: Energy (XLE +4.15%) and Technology (XLK +3.51%) at the top. Health (XLV +2.22%) and Real Estate (XLRE +1.18%) at the bottom. Expectation: -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview Jerome Powell gave unexpected but specific guidance on not only today's interest rate hikes, but also the next two. In addition, the specifics around reducing the balance sheet helped squash the fear that the Fed would move too fast. The Nasdaq responded with a late-day rally that helped it close with a +3.19% gain. The intraday swing was a huge 5% from low to high. Volume was much higher than the previous day. The candle has a lower low and a higher high, making for an outside day. The closing range of 97% is above a 63% green body. There were two advancing stocks for every declining stock. The S&P 500 followed the Nasdaq with a +2.99% gain. The Dow Jones Industrial Average (DJI) rose by +2.81%. The Russell 2000 (RUT) climbed by +2.69%. The VIX Volatility index dropped by -13.09%, although still remains elevated. All eleven S&P 500 sectors gained today. Energy (XLE +4.15%) and Technology (XLK +3.51%) were the best two sectors. Health (XLV +2.22%) and Real Estate (XLRE +1.18%) were at the bottom of the sector list. The ISM Non-Manufacturing PMI for April came in lower than expected at 57.1 compared to the 58.5 forecasts. However the Markit Services PMI and Composite PMI both beat expectations. The biggest news though was the Fed's decision to raise interest rates by 50 basis points to 1.0% and also stated the next two increases would be 50 basis points, not the 75 basis points feared by some analysts. The US Dollar Index (DXY) dropped -0.91%. The US 30y Treasury Yield gained while the 10y and 2y Treasury Yields declined. The gap between long and short-term yields widened. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices rose. Silver and Gold rose, thanks to the US Dollar's weakening. Brent Oil is at $109 a barrel after Europe proposed cutting off Russian oil. The put/call ratio (PCCE) rose to 0.857. The CNN Fear & Greed index moved toward Neutral but remained in the Fear region. All of the big six mega-caps rose today. Meta (FB) topped the group with a +5.37% gain. Apple (AAPL) and Meta closed above their 21d EMA and 50d MA. Microsoft (MSFT) moved above its 21d EMA while Tesla (TSLA) closed above its 50d MA. The big six led the mega-cap list with Facebook, Tesla, Alphabet (GOOG), and Apple (AAPL) making up the top four. AstraZeneca (AZN) was the only declining stock in the list. The Daily Update Growth List closed almost entirely in the green. PayCom (PAYC) topped the list with a +13.78% gain. The only declining stock in the list was RH (RH) which lost -1.46%. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead Tomorrow we will get the weekly Initial Jobless Claims data before the market opens. We will also get Nonfarm Productivity and Unit Labor Costs for Q1. Shell (SHEL), ConocoPhillips (COP), Block (SQ), Shopify (SHOP), MercadoLibre (MELI), DataDog (DDOG), Lucid (LCID), Cloudflare (NET), DoorDash (DASH), and Zillow (Z) are among the earnings reports for Thursday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq moved back toward the 13,000 support/resistance area and stopped just short of that mark. Will it prove as resistance again or can the index move past the line and top the 21d EMA? If the one-day trend line continues into Thursday, that would mean a +3.26% gain, rising above the 21d EMA and stopping short of the 50d MA. If the index returns to the five-day trend line, that would mean a -3.78% decline. A drop to the trend line from the 3/29 high would mean a -5.83% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up The afternoon rally felt good. Investors' confidence grew thanks to very specific guidance from the Fed on current and future interest rates and the balance sheet reduction. Forecasting with such specificity is not common for the Fed and shows how careful they are being to not create a recession. The next few days will be an important signal for equities. If the rally sticks, we should see a few days of gains on elevated volume and breath across the market with an advance/decline ratio over 1.0. Then some consolidation might begin late on Friday or early next week before the next move up. Stay healthy and trade safe! by drewby43214
Daily Market Update for 5/3Summary: There was less choppiness in a lighter volume trading day as investors way for the Fed interest rate decision on Wednesday. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Tuesday, May 3, 2022 Facts: +0.22%, Volume lower, Closing Range: 56%, Body: 28% Green Good: Higher high and low, good closing range Bad: A/D below 1.0, need more volume Highs/Lows: Higher high, Higher low Candle: Thin green body within a tight low and high Advance/Decline: 0.96, slightly more declining stocks than advancing Indexes: SPX (+0.48%), DJI (+0.20%), RUT (+0.85%), VIX (-9.55%) Sector List: Energy (XLE +2.80%) and Financials (XLF +1.30%) at the top. Consumer Discretionary (XLY -0.25%) and Consumer Staples (XLP -0.29%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview There was less choppiness in a lighter volume trading day as investors way for the Fed interest rate decision on Wednesday. The Nasdaq climbed +0.22% today. Volume was lower than the previous day. The 28% green body sits in the middle of a tighter price range than what we've experienced almost daily for the last several weeks. The closing range of 56% is good and we got a higher high and higher low. There were slightly more declining stocks than advancing stocks. The Russell 2000 (RUT) did the best today, gaining +0.85%. The S&P 500 (SPX) rose by +0.48% and the Dow Jones Industrial Average (DJI) advanced by +0.20%. The VIX Volatility index dropped by -9.55%, but remains elevated. Nine of the eleven S&P 500 sectors gained. Energy (XLE +2.80%) and Financials (XLF +1.30%) were the best sectors. Consumer Discretionary (XLY -0.25%) and Consumer Staples (XLP -0.29%) were the two losing sectors. Both Factory Orders and JOLTs Job Openings for March were higher than forecast. API Weekly Crude Oil Stock was lower than expected, showing high demand. The US Dollar Index (DXY) dropped by -0.14% as it bounced up and down the last few days. US 30y and 10y Treasury Yields declined while the 2y Treasury Yield rose. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices rose. The put/call ratio (PCCE) declined to 0.753. The CNN Fear & Greed index remained in Fear. Four of the big six mega-caps gained. Apple (AAPL) led the way with a +0.96% advance. Microsoft (MSFT) declined -0.95%. Shell (SHEL) led the mega-cap list with a +3.55% gain. The top four mega-caps were Energy and Financial companies. Visa (V) had the biggest decline in the list, losing -1.40% today. The Daily Update Growth List had mixed results. The biggest gain came from Enphase (ENPH) which advanced by +3.68%. Okta, Inc. (OKTA) was at the bottom of the list, declining by -5.04% today. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead All eyes will be on the Fed Interest Rate Decision tomorrow afternoon. The expectation is for a 50 basis point rise to bring interest rates to 1.00%. Before the Fed's decision, we'll get Trade Balance data for March and the Non-Manufacturing Purchasing Managers Index for April. Crude Oil Inventories come later in the morning. CVS (CVS), Booking (BKNG), Moderna (MRNA), Uber Tech (UBER), Marriot (MAR), Fortinet (FTNT), and eBay (EBAY) are among the companies reporting earnings on Wednesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The Nasdaq stayed within a relatively tight trading range today. If the one-day trend line continues into Wednesday, expect a +0.38% advance. If the index returns to the five-day trend line, that would mean a -1.14% decline. The trend line from the 3/29 high points to a -2.48% decline. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up Let's hope the Fed gives us a boring day tomorrow, by doing exactly as expected and raising interest rates by 50 basis points. Boring is good for the stock market. Stay healthy and trade safe! by drewby43214
Daily Market Update for 5/2Summary: A late rally helped stocks close higher on Monday as long-term Treasuries rose above 3% ahead of the Fed meeting this week. Notes Ideas always welcome in the comments. Errors will be amended as comments on TradingView or corrected inline in my blog. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Monday, May 2, 2022 Facts: +1.63%, Volume higher, Closing Range: 98%, Body: 60% Green Good: Closing range, gain on higher volume Bad: Lower high, lower low Highs/Lows: Lower high, Lower low Candle: Green body covers upper half of candle Advance/Decline: 1.08, about the same number of advancing and declining stocks Indexes: SPX (+0.57%), DJI (+0.26%), RUT (+1.01%), VIX (-3.17%) Sector List: Communications (XLC +2.76%) and Energy (XLE +1.60%) at the top. Consumer Staples (XLP -1.31%) and Real Estate (XLRE -2.60%) at the bottom. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Market Overview A late rally helped stocks close higher on Monday as long-term Treasuries rose above 3% ahead of the Fed meeting this week. The Nasdaq closed up by +1.63%. The high closing range of 98% came after the index rallied in the final hour of trading. The index flipped from a red to green in the rally, leaving behind a long lower wick below a 60% green body. Volume was higher than the previous day. There was a nearly equal number of advancing and declining stocks. The Russell 2000 (RUT) gained +1.01%. The S&P 500 (SPX) rose by +0.57%. The Dow Jones Industrial Average advanced by +0.26%. The VIX Volatility Index fell by -3.17%. Six of the eleven S&P 500 sectors gained today. Communications (XLC +2.76%) and Energy (XLE +1.60%) topped the sector list while Consumer Staples (XLP -1.31%) and Real Estate (XLRE -2.60%) were at the bottom. Purchasing Manager Index data released in the morning showed a contraction in manufacturing activity which echoed data coming from China. The US Dollar Index (DXY) gained +0.38% today, moving back toward recent highs. The US 30y Treasury Yield topped 3% for the first time since 2019. The 10y and 2y Treasury Yields also rose today. High Yield (HYG) and Investment Grade (LQD) Corporate Bond prices were lower. Silver and Gold continue to sink, credit to the strengthening dollar. Brent Oil is at $107 per barrel. The put/call ratio (PCCE) declined to 1.03, remaining in a bearish range. The CNN Fear & Greed index remains deep in the Fear range. All of the big six mega-caps gained today. Meta (FB) led the gains with a +5.32% advance. Amazon (AMZN) just barely closed with a gain, rising +0.18% for the day after dipping nearly 5% earlier in the session. Meta and Nvidia (NVDA) both gained +5.32% to top the mega-cap list. PepsiCo (PEP) was at the bottom of the list with a -2.30% decline. All but two stocks in the Daily Update Growth List gained today, most advancing more than 4%. Roku (ROKU) was the top gainer with a +11.01% advance. DataDog (DDOG) and Niu Tech (NIU) were the two decliners, dropping by -0.48% and -1.05%, respectively. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Looking ahead The big news this week be on Wednesday with the Fed interest rate decision. For tomorrow, we will get Factory Orders and the JOLTs Job Openings report for March. In the afternoon, the weekly API Crude Oil Stock report will arrive. Pfizer (PFE), AMD (AMD), Airbnb (ABNB), Starbucks (SBUX), and Hilton (HLT) are among the earning reports for Tuesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Trends, Support, and Resistance The late session rally wasn't enough to move the one-day regression trend line to an uptrend. The one-day and five-day trend lines and the trend line from the 3/29 high are pointing to a -1.52% decline for Tuesday. -=x=-=x=-=x=-=x=-=x=-=x=-=x=- Wrap-up I'm not sure the rally in the late afternoon today means much. The put/call ratio is still high. So as some investors turned bullish, there are still plenty of investors that are betting on further declines. There's not much to go on for expectations on Tuesday, but we can probably look forward to more choppiness as investors prepare for Wednesday's Fed decisions. Stay healthy and trade safe! by drewby43213