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…
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…
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.
*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