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Daily update
Good Morning followers,
I am glad to provide you with a less than 2 min read of what’s moving markets on 28/3/21
Friday
Markets put in a valiant effort last week and all finished higher for the week, but, the NSDQ couldn’t quite get there on Friday and fished a slightly lower for the day. Consumer sentiment was the culprit on Friday reporting 59.4 its lowest since August 2011. The MAC D tells us we are in overbought territory but it doesn’t feel that we are, too much too quick. Can it be sustained?
Today
Overnight the HSI rose 1.31% erasing some of Fridays loses and Crypto appears to be finding its footing with Cadarno up 30% the last 7 days. The second black box has been recovered and so we may get some clarity on this tragedy today. The Bank of England Governor speaks today but otherwise nothing else much on the agenda. Dave and Busters (PLAY) report with high earning expectations of $0.61 EPS anticipated. Russia and Ukraine prepare for in-person talks today in Turkey after Zelenskyy says he’s ready to discuss neutral status.
Stock of the day.
Oil stocks led on Friday with Sunocr & Halliburton the leader closing 3.5% & 3.24% and Vir Biotech the laggard down on news that it may not be effective against the latest version of the Coronavirus. Oil and Brent have both pulled back on news on evolving peace talks in Europe down 3.9% and 3.4% respectively.
Thought for the day.
This is our time on the planet. We have to become willing to find solutions, willing to strive to make things better.
For more information go to Connolly Capital Investments https://connollycapital.co/ or find us on eToro at https://www.etoro.com/people/paulcon33
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Daily update …
Good Morning followers,
I am glad to provide you with a less than 2 min read of what’s moving markets.
Technical Trade of the week
Last weeks trade was long GBPJPY which closed on a take profit of +29.64% for us and our copiers.
We entered this trade with the expectation of a more Hawkish Bank of England and a Dovish Japanese Central Bank, they acted as expected, resulting in a successful TTOTW.
This week we like DJ30 if it pulls back to 34,100 (previous resistance levels) opening a long position with a Stop Loss at 32,680 and a take profit at close to previous highs of 37,000.
Yesterday
As expected jobless claims impressed and after a slow start the 3 indices found their gusto and erased the previous days losses. The NSDQ finishing 1.9% higher lead by semi conductors, which is ironic given 90% of Neon and 35% of Palladium used in US semis comes from Russian which finds its self wrapped in sanctions, not to mention looming interest rate hikes that are causing concern for tech. Otherwise it was a day for materials with the Nucor up 3%. Darden (DRI) was a miss reporting 1.93 EPS with expectations of $2.10 however after an initial drop it got swept up and edged out a small gain.
Today
Chinese stocks pulled back early this morning with Oil and Covid weighing on traders outlook but given the recent rally it may not be best to read too much in to this. President Biden finds himself on the border of Poland and Ukraine and pending home sales are released from the US. FED speak is also on the agenda but most eyes will be on Europes War and the apparent losses being suffered by Russia. Young men and women are needlessly dying because of the whims of those that sit behind desks in palaces. We may also hear from China and any light the black box (BA) can shed on yet another tragedy.
Stock of the day.
Nvidia, Marvel and AMD (9.82%, 6.99% & 5.8%) out performed yesterday but are still down for the year. With yesterdays leader Halliburton taking a breather and erasing some of those gains down 1%.
Thought for the day.
Whatever you do, important or not so, just do it well and with joy.
Enjoy your weekend!
For more information go to Connolly Capital Investments https://connollycapital.co/ or find us on eToro at https://www.etoro.com/people/paulcon33
0 notes
Text
Daily update….
Good Morning followers,
I am glad to provide you with a less than 2 min read of what’s moving markets.
Technical Trade of the week
Last weeks trade was long GBPJPY which closed out over night on a take profit of +29.64% for us and our copiers.
We entered this trade with the expectation of a more Hawkish Bank of England and a Dovish Japanese Central Bank, they acted as expected, resulting in a successful TTOTW.
This week we like DJ30 if it pulls back to 34,100 (previous resistance levels) opening a long position with a Stop Loss at 32,680 and a take profit at close to previous highs of 37,000.
Yesterday
Oil was on the agenda yesterday with WTI rising more than 5%. Will it go back to $130? This of course carries with it a hidden concern of yet more inflation and more interest rate hikes. The market remained dignified only dropping around 1.3 % across the 3 indices.
The UK Chancellor released his Spring Statement with plans to assist the inflation crisis in the short to medium term by increasing the National Insurance threshold and decreasing fuel duty. When I studied economics the way to combat inflation was not to give people more money to spend? I HOPE HE HAS THIS RIGHT!
Today
Asia was slightly down overnight with most Chinese tech holding on to its gains from earlier this. We anticipate more sanctions on Russia and flash PMI figures from around the world. These give us insight to how purchasing managers see trade in the short to near term and as such the market watches these closely and any negativity may cause a pull back coming in to the weekend. Western leaders today meet to discuss the Ukraine war and we can expect the initial jobless claims from the USA. We expect these to impress.
Stock of the day.
Halliburton and Suncor lead the way yesterday with modest gains of 2.64% and 1.60% due to the rise in oil prices. The previous day stocks of the day, Vir biotech and Wells Fargo the laggards erasing those outsize gains achieved.
Darden Restaurants reports today, with high expectations of $2.10 PS. With the new strain of COVID raging through the world all eyes will be on this report to see how others in the industry may be effected.
Thought for the day.
If human beings are released from the disease of wanting to be better than someone else, life will come to ease.
For more information go to Connolly Capital Investments https://connollycapital.co/ or find us on eToro at https://www.etoro.com/people/paulcon33
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