Tackle Today: PPI Cools, Stocks Rip
November 15, 2022
«It’s a good day to be a bull.»
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
Join the coaches in this live lounge, ask questions, discuss ideas or just sit back and listen to veteran traders discuss market conditions.
The Coaches Show 8:30 PM EST
This is our weekly MasterMind group. Join the coaches tonight, 8:30 PM EST to discuss the markets and help you prepare for the week.
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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