Market Moving News
Whatever Trump and Powell say…
Macro Matters
See above…
Trade Wars and More
On again, off again …
Yes, we’re being cheeky with the above – it’s Friday – but below market timing calls were anything but…
Samantha Says –
Market Commentary from Samantha’s Live Trading Room and StockTwits Chat Room
Unicorns fly higher: ZM; doubled revenue y/y, BYND; faux meat flies higher and huge short float should cause a big squeeze.
$GLD continuing higher. Over $133 and equity bulls should be seriously concerned.
$BA looking bullish. Hold above 352 long.
$SPX Just filled 2856 gap fill. Looking at potential move to 2880 and then reversion as reality of rate cuts and economic weakness sets in. (Weekly close of ) $2873 area also important given potential H & S on weekly (being negated).
WSJ reporting Fed meeting to discuss June rate cut. Markets love it.
$USO may be bottoming out here. Possible hourly inverse H & S forming
$UUP dollar weakness helping equities. See if this continues next week or reverses higher.
More talk about Iran sanctions further $USO bottoming thesis for now.
$TLT bonds higher in a market melt up not really confidence inspiring.
To get that $SPX $2880 PT discussed – despite fully expecting a horrific NFP print – I had to predict Powell would pivot. He intonated Mon at his speech, followed by 13 Fed heads talking dovish this week. Now today’s WSJ article says Fed met to discuss June rate cut!! In short, this was my view and tweeted as such 5/31 that I expected June Rate Cut rhetoric. So now we are in full-on TRADE THE RUMOR,. SELL THE NEWS set up into FOMC June 18th. https://twitter.com/SamanthaLaDuc/status/1134571755782254593?s=20 But keep in mind: Not every day will be melt-up like today – It took SPX 9 days to fall from 2870 to 2730. It took SPX 5 days to go from 2730 to 2870!! We could just as easily go sideways next 8 trading days leading up into FOMC Wednesday so in that time I expect a bear/bull tussle at $2816/2840/2880/2895/2906. Until then, have a great weekend!!
Market Thoughts from AM: USD pulling back to where it broke out so we still need a few wks to see how it handles: Trend Reversal or just PB to BO and then bounce which is VERY bullish and EM destructive! … Euro and Yen look ready for escape velocity… chart work intonated apex breaks coming… Market melts up and Weekly bars engulf prior week’s bars as Very Bullish… But what’s not bullish: screaming higher Yen, Gold, Bonds, Safety plays… Weak Banks… Headline Risk from Trump + Mexico Tariffs for reals… Just remember this is a Trader’s Market and MACRO RISK is greatest it has ever been so if I can help you navigate THAT – operationalize THAT – then I have done my job.
End Of Week Market Thoughts: Theme of the week/day – oversold markets combined with bad economic reports (including the last dominion of bullish trends: employment/ NFP) was goosed with the theme of likely Fed June rate cuts. The markets rose – slowly at first and then all at once. Market melt up today can continue into FOMC – more likely sideways ~$2880 area – but I contend this is more likely “buy rumor, sell news” … And if Powell doesn’t cut June 19th … KNOW WHAT YOU OWN!!!
Wall Street Jane’s Journal
1. I objectively identify my edges.
2. I predefine the risk of every trade.
3. I completely accept the risk or I am willing to let go of the trade.
4. I act on my edges without reservation or hesitation.
5. I pay myself as the market makes money available to me.
6. I continually monitor my susceptibility for making errors.
7. I understand the absolute necessity of these principles of consistent success and, therefore, I never violate them.”
Jane’s Weekend Reading
Our planet is in the middle of a mass extinction – the sixth ..
Comcast yesterday was ordered to refund nearly 50,000 customers and pay a $9.1 million fine when a judge ruled that it violated Washington state consumer protection law hundreds of thousands of times.
Could a tire be puncture-free, better for the environment, and minimize danger on roads? It sounds almost too good to be true. But, General Motors (GM) and Michelin have teamed up to execute exactly that, creating an airless tire. The tire will be called Uptis, and is due to launch in 2024.