Wëlcum,
News:
Earnings are in control of the market right now but it’s been quiet during pre market. J&J didn’t do good on their ER which shouldn’t have a large affect on the market but is interesting in covid news and the context of what I can mean. Ukraine and Russia are still fighting and will be for a long time. Mariupol is near falling which would be the first real win the Russians have had.
Watchlist:
RIVN: This isn’t necessarily an imminent move but I want to talk about it’s future. RIVN has had declines in estimated productions this year from 50k vehicles to 25k. They have been very affected by shortages and are suffering in share price because of it. RIVN has a large amount of orders from Amazon for delivery vans but hasn’t announced how many (if any) have been delivered and these vans have been due for delivery for months. They are bleeding and the stock wont bounce until they get some positive news.
SPY:
Yesterday seems to be playing out again only more bullish this time. I expect we will start an uptrend very soon if not today. The skies are clear and the fear of inflation and interest rates are fading, but they’ll be back just wait till next fed meet or CPI.