Premarket Summary — Important Info for the Trading Day Ahead

Premarket Summary: This is usually reserved for Discord members but this morning I thought I would release some free intel for everyone due to the market conditions we are in!

What is the Market Telling us?

Investors look ahead to data on U.S. jobless claims today and U.S. inflation data set to be released on Friday. $SPX: 4550 critical support. 4700 overhead target.

The option and stock market seem to be giving us mixed signals. At these current levels, the market has shown vigor in recovering losses, but we should expect range bound trading and consolidation as we go into the Fed meeting next week. This is somewhat confirmed by heavy gamma exposure from market maker hedges in the option market.

The Fed is expected to say next week it will double the pace of its bond purchase taper, while also likely hinting at more aggressive rate hikes in 2022. If so, it will mark at least the fourth significant policy since Jerome become Chairman. This is a big question mark for the markets and ties in with the the option markets interpretation, as stated before.

Premarket Watchlist

In addition to the list from yesterday (for Discord Members Only):

$RH — RH expects fiscal-year revenue growth of between 32% and 33%, above its previous forecasts of a 31% to 33% increase.

$CCL / $DAL ($JETS ETF) — Fears subsiding on virus making these good proponents for trading but be careful holding these

$DCRC — Solid Power which is an EV battery maker goes public thru SPAC approval.

$PFE — Upgraded by Wells stating “Vaccines are here to stay” / CEO says a fourth shot might be needed

$AAPL — Named top stock picks for 2022 yesterday … sigh

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