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S&P 100 Update

S&P 100 Update

The S&P 100 Index($OEX) has now retraced 1/3 of the huge rally off the March 2020 lows.   From March 2020 to January 2022 the $OEX gained 120%.   The $OEX is now more oversold that it was at the March 2020 lows(weekly MACD).  We consider the $1765.00 to $1725.00...
Alcoa Update

Alcoa Update

Alcoa has been dropping like a rock since earnings(Alcoa Shares Fall After Q1 Results Miss Revenue Expectations, Production Decrease – Benzinga).  At today’s low the stock is off 35% from the March 2022 highs.  This steep pullback has completely worked off...
Outflows

Outflows

From Duetsche Bank:  U.S. equity funds have recorded $30 billion of outflows over past two weeks, the largest since March 2020 market crash. The S&P 500 Index bottomed on March 20, 2020.  Hat tip Gunjan Buranji/@GunjanJS
State Street Stumbling

State Street Stumbling

Shares of State Street Corp continue their post earnings(State Street Corporation (STT) Q1 Earnings and Revenues Top Estimates – April 14, 2022 – Zacks.com) sell off.  At today’s low the stock has stretched its April drop to 18% and is now off 33%...