AZL General Discussion, page-10875

Mixed days across stocks

Yes ESS lost 6 pips to finish on 9.4c. Our volume was good, similar to yesterday, just over 140m shares traded. Its good to see volume coming back. Although we lost a small amount today, but it was within the trading range - lot of other stocks had a similar behaviour. Of my trading stocks sold at 10 yesterday, I picked 1 lot at 9.2c. Want to see how the next 2 days goes, general market, before committing for next trading lot.

ASX LI stocks lost direction after a strong start. Of the 43 stocks that I track, average gain was 1%.

Overnight US Li stocks had a good day. The ETF of LIT gained around 1.5%. Other stocks had mixed day, but mostly in green - gains from 2 to 8% - so decent gains.

What next -

Yesterday I had mentioned that US indices may mostly be sideways, maybe green but no big red. It played out accordingly and the indices were more or less flat. But resource stocks still made some gains.

Today ASX started in positive territory. In the morning most resource stocks that I follow started strongly. They were quite strong for most of the day. But something happened in the last one hour or so, most stocks lost steam. Not sure what it was. There was good gains from yesterday, was it that, or getting spooked about overnight? Anyway, most stocks retreated from their day's high, so finish was not good. But still overall positive.
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My two indicators are still floating. SP 500 has not cracked 4200 and VIX has not come below. This will confirm for me (and many others) a very good confirmation around a bull run. As of now, lots of chartists/analysts feel that we may fail, similar to what happened in March. Lot of indices are sitting at the double top - and a double top is usually sold. So something to keep an eye on for general market.

For my trading stocks I set up short-term targets. Usually look for 25-35% gain in one phase. Lots of targets were met yesterday and today, so again I am travelling lighter. Next step for me is to pick up trading stocks for next phase for the ones I let go, plenty still have not met and am holding.

So what will happen tonight? US Futures are in slight green. Asian markets were mixed, decent fall for Japan but some others including ASX in green. Volatility index VIX is stable and at 21.29. Cryptos did a runner yesterday, but they have retreated slightly. Bitcoin below 24k, around 23.8k - so they are not very confident about tonight. Lot of earning reports to come. Also Business and Economic Optimism index - that may provide direction. But the big one is tomorrow night - the CPI figures. Will US punters worry about CPI or keep marching on? I am a bit jittery for tonight, also seeing how stocks came back in last hour for us, but hoping we tread sideways. Last few days has been tentative in index, but most resource stocks doing well. Lets hope this trend continues tonight. All the best.