2/17/22 Hawks Didn’t Fly

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.

Photo by Frank Cone from Pexels

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:

*Low Float

*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

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