Morning Commentary
Outside Reversal
Yesterday, the Dow Jones Industrial Average traded below the lowest point of the previous session and above the highest point as well. This outside reversal is seen as a very positive technical signal.
Dow Jones Industrial Average |
Open |
High |
Low |
Close |
March 8 |
25,347 |
25,466 |
25,252 |
25,450 |
March 11 |
25,208 |
25,661 |
25,208 |
25,680 |
America’s Goldilocks Era: February CPI
There are some surprising declines in the report.
These four items make up 7.7% of all household expenses.
The biggest gainers were airlines +0.5 and tobacco +0.5, which combined are 1.3% of household expenses.
CPI Change
Portfolio Approach
We went long a new Consumer Discretionary position and made some weighting and bolding changes. Now is a great time to get started on the Hotline.
Communication Services 1 |
Consumer Discretionary 3 |
Consumer Staples 1 |
Energy 1 |
Financials 1 |
Healthcare 2 |
Industrial 3 |
Materials 3 |
Real Estate 0 |
Technology 2 |
Utilities 0 |
Cash 3 |
Today’s Session
Boeing (BA) is still in the spotlight, as more global airlines bail on the 737 Max until there are additional answers. All the major indices climbed on benign inflation news pointing to the Goldilocks scenario for the economy and investors.
The S&P and NASDAQ are poised to surge at the start of trading.
Tweet |
4/26/2024 9:39 AM | BIG TECH STEPS UP |
4/25/2024 1:16 PM | Don't' Bury me, Yet! |
4/25/2024 9:27 AM | THERE CAN ONLY BE ONE |
4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
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