Market Report Soft landing, Rally Continues
Todd Horwitz Chief Strategist BubbaTrading.com
Be Prepared not Surprised.
The rally rolls on as the pundits call for a soft landing. How they arrive at that is anyone’s guess. The idea of a soft-landing sounds like they are living in a dream world or trying to raise money.
Inflation continues to soar as jobs continue to fail. Since last May over 2 million fulltime jobs have been lost. There have layoffs almost everywhere, salaries remain below the cost of living. The near future is not promising however the markets roll higher.
This week should go a long way determining what happens next. We will see a big earnings calendar plus the FED on Wednesday and Jobs Friday. The markets should tip sentiment, but the news will drive the markets. We will react after the information is released.
Options traders are trying both sides of the markets with Call Buyers, Put and Put Spread sells. On the bearish side we are seeing Put Buyers and call sellers. There appears to be a lot of premium sells.
The bulls were buying NVDA, AMZN, META, AAPL, and MSFT. The bears were selling, SI, ZS, BITO, W, and BAC. Like last week, a mixed bag with little direction.
As traders and investors, we have one thing to remember, follow the trend of the market. Be patient disciplined and leave your emotions out. The most important thing to remember is money management and self-control.
Todd “Bubba” Horwitz