Hello! Here’s what’s happening in the market today…
News:
Apple Inc. (AAPL) reached a market cap of $3 trillion yesterday. The first publicly-traded company to do so.
Meanwhile, the original WallStreetBets stock, Tesla, Inc. (TSLA), rocketed nearly 14% after destroying delivery expectations. It’s nearing all-time highs above $1250.
As we welcome 2022 the big caps are leading the way. AAPL and TSLA were the stars as the S&P 500 and the Dow Jones Industrial Average closed at new record highs.
Technicals:
The NASDAQ, has some resistance to get through … But I don’t suspect there will much trouble. Look for new highs on the third major index as soon as today.
I remain bullish on small caps, tracked by the Russell 2000, and am still holding ^TNA. My next profit target is $93, I’ll exit this position by the end of the month regardless.
RSI and the put-to-call ratio, are in a neutral stance. The path of least resistance remains up.
Timing:
It’s the final day of the “Santa Rally” unless the market tanks, Santa has delivered.
The “January Effect” is likely to last another two weeks. My swing on TNA is looking quite nice still.
Futures are up, pointing towards a green open across the board. Bitcoin still refuses to break down. I’m watching support at $45,000.
Today I’m bullish and risk on.
Watchlist:
*Low Float
^Open Position
*SPRB has resistance at $5
*IMMX is on watch
*RELI is on watch
*SINO has support at $5
IVAC has support at $5.50
ASRT has support at $2.50
DCPH as support at $10.50
GNPX has resistance at $4
LQDA is on watch
^XXII has support at $3