Quick observations (TTG Members receive audio messages throughout today + premkt analysis) - Breadth "nasty" - Bonds strong TLT +0.9% - US Dollar ~ flat -0.1% - VIX -1% 24.2 - Crude -2% Nat Gas -2.% Bottom Line: Growth and Growth at any cost ARKK -4.2% taking a breather today as more defensive areas outperform XLU +0.9% XLP +0.5%. Solar a standout today in Growth +0.6%. From a technical perspective NDX took out a major VPOC on Daily chart yesterday and is fading a bit (see chart below). Also notable even before the "rocket headlines" yesterday, price was giving back gains, so perhaps the market a little tired after some big moves last week. Also note it is monthly options expiration on Friday so could be a seeing some volatility attributed to that.
TTG Midday Observations & Charts 11-16-22
TTG Midday Observations & Charts 11-16-22
TTG Midday Observations & Charts 11-16-22
Quick observations (TTG Members receive audio messages throughout today + premkt analysis) - Breadth "nasty" - Bonds strong TLT +0.9% - US Dollar ~ flat -0.1% - VIX -1% 24.2 - Crude -2% Nat Gas -2.% Bottom Line: Growth and Growth at any cost ARKK -4.2% taking a breather today as more defensive areas outperform XLU +0.9% XLP +0.5%. Solar a standout today in Growth +0.6%. From a technical perspective NDX took out a major VPOC on Daily chart yesterday and is fading a bit (see chart below). Also notable even before the "rocket headlines" yesterday, price was giving back gains, so perhaps the market a little tired after some big moves last week. Also note it is monthly options expiration on Friday so could be a seeing some volatility attributed to that.