Hi all,

It was a shortened trading week for the markets. There were no significant economic or earnings events for the market to digest and move on. 

Most notable was the continued rise in longer-term treasury bond yields which continued higher through the 4.5% level which market makers and investors were watching as a phytologically important level. The higher yields go, the more attractive it becomes for investors as a place to invest money safely and get a good return.

Next week will be another shortened trading week with the New Year's Day holiday on Wednesday - the markets will be closed again. Lower trading volumes will continue next week. DOW and IWM have broken uptrends while the QQQ and SPY look like they are getting into some areas of price consolidation.

Cheers. 

Brian

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Sectors in Play Last Week

• Healthcare and Technology were the sectors up the most this week.
• Staples and Materials the worst-performing sectors this week.

Key Levels for this Week

• DOW (42,992) – support 42,800 and resistance 44,000
• QQQ (523)– support 515 and resistance 532
• SPY (595) – support 581 and resistance 607
• IWM (222) – support 218 and resistance 226

What to Watch for this Week

• Monday – 9:45 Business Barometer
• Tuesday – 8:09 Home Price Index
• Wednesday – New Years Holiday
• Thursday – 8:30 Jobless Claims
• Friday – 10:00 ISM manufacturing

Earnings this week

• Monday – nada
• Tues – nada
• Wed – New Year's Day holiday
• Thurs – nada
• Friday – nada

Positions and Trades Last Week

• ADBE – long from last week’s watchlist.
• AVGO – long from last week’s watchlist.
• BA – still long – target is $185 then $200
• KMI – long play on natural gas from last week’s watchlist.
• TD – long – will continue to sell calls to collect premium.

Tracking for Potential Trades

• AMD – either holds here and goes higher or we see new lows.
• HOLO – might have a continuation move higher on Monday
• IONQ – is still strong and looks like it might break out higher.
• QTUM – ETF for quantum computing hot sector.

 

Note: These are investments I am in or watching however, they may not be suitable for all investors. The author of this email is NOT an investment advisory service, a registered investment advisor, or a broker-dealer. I do NOT undertake to advise clients or recipients of this email on which securities they should buy or sell for themselves. This email is provided for information purposes only and traders should always consult with their licensed financial and tax advisors to determine the suitability of any investment.