D&D Note (5.7.2018) ~ Trump Tweet on Iran Takes Markets Off Session Highs ~
Technicals look decent in the market with the 200 day moving average now been tested 3 times and a bounce off it each time including last Friday after the goldilocks jobs report. Its been awhile since we’ve been able to maintain a rally over a weekend as we have now done from last Friday through todays session.
Oil gained a bid today and was pushing $70 until Trump sent out a tweet that a decision is coming on the Iran deal, which is sooner than investors had thought. That sent WTI and the Energy sector off their session highs and the overall market reversed off the highs as well.
Warren Buffet buys more Apple doubling down in the first quarter, and the stock AAPL hits all time highs. A lot of news has been coming out of Omaha where Berkshire and Hathaway are holding their annual general shareholder meeting. One asset that got taken down due to the talks was Bitcoin. The cryptocurrency almost broke through $10,000 then Billionaires Buffet, Gates, and Monger all criticized Bitcoin which sent the asset lower.
VIX remains below 15 and many analysts are call for an average of 15 for the VIX this year which would represent a 1% move on a daily basis. While we will certainly see spikes throughout the year it should average out to around 15.
Pot Stocks led the day today for D&D with CNTTF up 7.80% and APHQF up 4.64%.
D&D movers:
– CNTTF up 7.80%
– APHQF up 4.64%
– NVDA up 4.02%
– BABA up 3.42%
– IMLFF down -3.07%
– TCEHY down -1.41%
– MO down -0.98%
– UNH down -0.90%
Indexes
– DOW up 0.39%
– NASDAQ up 0.77%
– S&P up 0.35$
Sector Movers:
– Technology up 0.79%
– Industrials up 0.69%
– Financials up 0.68%
– Consumer Staples down -0.63%
– Telecom down -0.61%
– Utilities down -0.54%
Notes
– US 2-YR 2.497% (down -0.004)
– US 10-YR 2.952% (up 0.008)
– US 30-YR 3.121% (up 0.007)
Volatility
– VIX 14.72 (down -0.34%)
Crypto (1:00 PST)
– BTC $9,415.00
– ETH $755.00
– BCH $1,659.12
– LTC $166.00
Metals
– Gold $1,315.00 up 0.02%
– Silver $16.50 down -0.12%
– Copper $3.0725 down -0.42%
Energy
– Oil $69.82 up 0.14%
– Brent $75.30 up 0.57%
– Nat Gas $2.736 up 0.92%
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