Tackle Today: PPI Cools, Stocks Rip
November 15, 2022
«It’s a good day to be a bull.»
Traders,
Stocks are melting higher this morning following another economic release showing inflation is easing. October’s Producer Price Index (PPI) was 0.2% month-over-month and 8% year-over-year. The market was expecting 0.4% m/m and 8.3% y/y.
China, semis, emerging markets, and high beta growth are all leading this morning. The Nasdaq is up 2.3% at the open and has increased 10% in just a few days. According to @bespokeinvest, if it holds the gains, “it will be just the 16th time the index rallied 10% in a 4-day span.”
Meanwhile, the dollar and yields are tumbling to confirm the risk-on move. But that’s not all! Walmart shares are soaring 6.5% after posting better-than-expected earnings. Bears should stay in bed.
Video Of The Day: How to Use Moving Averages for Swing Trading
In this webinar, Coach Mark Justice takes a deep dive into how moving averages work, and how to use them to swing trade.
Chart of the Day: Producer Price Index (PPI)
Blue = PPI. Orange = Core PPI. Both measures are rolling over. More, please.
Tales of a Technician
Managing Losing Short Strangles
This week we’re exploring 5 ways to manage a losing short strangle.
Today’s line up
Traders Lounge 11 AM EST
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The Coaches Show 8:30 PM EST
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Halftime Report 12:30 PM EST
The Halftime Report starts at 12:30 EST and covers what news is driving the market, chart analysis from the movers and shakers of the day, and fun in a way that only Matt and Tim can deliver.
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