Always Stay Informed
Futures are down slightly at the start of the week as market headlines concerning the collapse of Archegos Capital are weighing on market sentiment. Goldman Sachs, JP Morgan and other banks forced the hedge fund Archegos Capital to liquidate positions through large block trades on Friday after the hedge fund, which was using extreme leverage, was issued margin calls. This led to dramatic price movement in many of its key holdings including ViacomCBS (VIAC) and many Chinese internet stocks on Friday.
Whether it is Archegos Capital, a container ship stuck in the Suez Canal, worries over rising yields or whatever the negative news headline of the day might be the market has been resilient through the volatility recently. The S&P 500 sits just below resistance and is looking for a catalyst to send it to all-time highs. Battles at technical resistance are always interesting as news stories often take on an extra importance in the short-term as price action pauses at the resistance level. Earnings season is just around the corner, vaccine and reopening news remains fluid and there is always a string of economic data just around the corner (monthly unemployment this week) so catch us every day in the Halftime Report and don’t forget to check out The Huddle where the Tackle Trading team breaks down the top five news stories every day.
Have a wonderful week trading and let us know if there is anything we can do to make your trading week better.
Key Earnings This Week
- Tuesday March 30th – Chewy (CHWY), Lululemon (LULU) and Blackberry (BB)
- Wednesday March 31st – Walgreens Boots Alliance (WBA) and Micron (MU)
- Thursday – CarMax (KMX)
IPOs expected to start trading this week
- Compass (COMP)
- Frontier Group (ULCC)
- Coursera (COURS)
- Kaltura (KLTR)
- Karooooo (KARO)
- Flora Growth (FLGC)
Economic Events this Week
- Thursday – Jobless Claims, ISM Manufacturing Index
- Friday – Monthly Unemployment Report
Chart of the Day
Earnings This Week
The next earnings cycle is set to begin in a few weeks but there are always a few interesting names that report during the major lull periods. This week Chewy (CHWY), Micron (MU) and Lululmon (LULU) highlight this weeks earnings calendar.
Video of the day
Coach Frank always brings a few interesting chart setups on our Friday Halftime Report, and this week is no different. The coaches analyze Frank’s charts and discuss their potential in this clip from Friday’s Halftime Report $APA $CARR $VIRT $AME
Today’s line up
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