News:
Yesterday, markets spend most of the day in the red.
The Fed released the minutes from its January meeting at 2 PM. Markets jumped after the release and closed near flat.
I found nothing too remarkable in the minutes. The Fed basically said rate hikes would come on a case-by-case and meeting-by-meeting basis.
The Fed appears less hawkish than the market might have priced in. But there were no real surprises.
Russian aggression is still a top priority for the market right now.
Markets are trading in the red this morning…
Technicals:
Most indicators are in a neutral stance this morning.
The news cycle is what’s driving the market right now. Technicals have little use at the moment. But I’ll continue to monitor…
Timing:
Options expiration is tomorrow. Expect more volatility, bears have a history of strong showings at the February expiration.
Also, Monday is a holiday, the market will be closed.
Investors will likely not want a lot of risk headed into the long weekend.
No position for me right now. I’m risk off as we wait and see.
Watchlist:
*SRTS has resistance at $10.50
*SGLY has support at $7
NUS has support at $55
KPTI is on watch
COOP has support at $51
SFL has support at $9
PTEN has support at $13
GTE has resistance at $1.30