🚀Tech Stocks rocket on CPI

Tech stocks rocketed off the open on the CPI data only to fall back to earth during the day. The Core CPI came out higher then anticipated. .5% versus .4% might not sound like a lot but when you realize that is a 25% increase you can see the issue. Especially if you compound that number over the course of a year. The market actually rallied early on the news and lasted for about 30 min before rolling back down. Larger cap tech stocks did hold some of their gains. Both NVDA and TSLA closed higher. As for the health of the Nasdaq , we must now focus on getting above the 21 day moving average. We do look like a potential bottom is forming in tech but that does not mean we trade up right away. We could base awhile but other sectors are acting great. In regard to the S&P500 we are currently less then 2% off the high. Seven of the eight trading days of the year were fueled by Energy. The XLE has broken out and is seeing massive inflows. Overall we are seeing a broad rally in the entire industry. Crude inventory numbers came out at 10:30 am today. The draw down on inventories was twice what was expected. Essentially this shows large demand. This was one of the reasons that basic materials looked ready to breakout out. If you look at the $XLB you will see a huge move today. This actually knocked energy off the #1 spot for the first time all year. We will continue to focus on the Energy, Financial and now Basic Materials. As Jim Cramer always says “There is always a Bull Market somewhere.” Right now that appears to be lower volatility (beta) names with real assets and yields. This will remain our focus long term while trading higher volatility shorter term. Tonight’s video below covers the above and give 5 trading ideas for tomorrow. Let’s get to it!

Let’s Look at our Indexes

Let’s Look at our stocks

Subscribe to You Tube! 👈Subscribe and turn on notifications. There is a new daily video after the market Monday through Thursday! It’s called the Top 5 in 5. It consists of the best five ideas for the next day and I condense it into 5 minutes. Its loaded with actionable ideas. Its worth your time. It is hyper specific and actionable. Tonight’s includes 4 Longs and 1 Short. When you subscribe turn on notifications so you are notified of the daily Premarket live shows ,Top 10 Weekly Buy List and educational videos. The video below is the Top 5 from tonight.

 Subscribe to Twitter! 👈and turn on notifications. There are times my updates are timely. If you do not see a position and have questions please email me: ARETE@ARETETRADING.NET Wishing everyone Massive Success🍀

Now you can share the Newsletter!

👇👇👇

Subscribe Below!

👇👇👇