The major indexes cleared two levels of resistance last week on Tuesday’s breakout of the mini trading ranges from the prior week, while testing February resistance levels on Thursday and Friday. The higher highs sets up and explosive situation heading into the second quarter earnings season that starts in a couple of weeks. The 4% […]
Category Archives: IPO’s
Goodyear Tire & Rubber (GT) is a multinational company that will have to navigate thru the current tariff conditions as they operate roughly 80 plants across 27 countries. Although share price could fluctuate based on trade policy uncertainty, Goodyear’s future growth and profitability remain attractive. If a tariff war escalates, Goodyear Tire would face […]
The major indexes easily remained in their current uptrend channels while making higher highs throughout the week. The one index that slacked were the small-caps as the Russell was down about 1% for the week. This wasn’t too surprising as the index outpaced the other major indexes over the prior two weeks. Shaky but key […]
The Volatility Index (VIX) remained rangebound between 15-17.50 throughout all of last week and over the past six sessions. Another close below 15 would likely confirm higher market highs with another retest to 13.50 possible. If we go out on a limb, we think the VIX could trade down to 12.75-11.50 in January and during the first-quarter […]
The Dow notched its 44th record close of the year and jumped back into its prior uptrend channel. The newly adjusted uptrend channel now has key support in the middle at 43,250. Backup help is at 42,500 and now represents the bottom of the uptrend channel. The middle of the uptrend channel is at at […]
11:35am (EST) We have a New Trade this morning so let’s get on it. New Trade! SoFi Technology (SOFI, $14.15, up $0.22) Sell to Open SOFI January 17 calls (SOFI250117C00017000, $0.55, up $0.05) Action: We are suggesting buying the stock at current levels while selling the SOFI January 17 calls for every 100 shares bought. […]