Premarket: Apple is green

apple premarket green 1-27-22From the Wall Street Journal’s “Stock Futures Swing as Concerns Mount Over Fed Tightening” posted early Thursday:

Stock futures oscillated as investors worried about the speed at which the Federal Reserve would move to lift interest rates, and awaited more earnings from major consumer and technology companies…

The moves built on a bout of volatility in the U.S. stock market that has seen major indexes swing wildly in intraday trading this week. The VIX hit its highest level in a year on Wednesday. Markets have been buffeted by concerns about central-bank policy around interest rates and inflation and geopolitical tensions over Ukraine and Russia.

Earnings season is ongoing and is seen as the next big test of whether the stock market’s sky-high valuations can be justified.

“What I’m looking for this earnings season is inflationary pressures and margins—if companies are able to hold onto their profits,” Fahad Kamal, chief investment officer at Kleinwort Hambros. said. “Are they able to pass along prices, are they able to maintain pricing power?” As central banks rein in liquidity, that is what becomes really important, he added.

Charts: Yahoo!Finance sees a bearish double top pattern. Max pain moved down to $165 from $167.50. The call mountain hasn’t budged from $170, but there’s a new put mountain at $150.

apple premarket green 1-27-22

3 Comments

  1. Bart Yee said:
    Pushing $163.00 for now at 8:00am PST.

    Let’s hope its not more of “buy the rumor, sell the news” for earnings.

    0
    January 27, 2022

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