Rabu, 29 Juni 2022

Biggest report of the quarter out today…

Plus — Two Hot Stocks For Right Now!
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Fed's biggest report out this AM. What the GDP report tells us … Most probable reaction from bond market and volatility indexStocks set to go higher or lower?Why sectors are totally out of balance right nowTop stock to trade to the upsideWeakest stock to trade to the downside … What to expect next few sessions → Click Here To Watch Now!

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GDP came out this morning down 1.6% and the last time we saw these negative GDP readings was over two years ago. There will be a lot of talk about recession.

The Dow was up 50 points when the announcement was made to give you a reference of where things were before the report and where things are when you look at it throughout the day.

My pivot number today is 3825 on the ES (S&P 500 futures).

As people digest these numbers, be on the outlook for announcements of corporate layoffs and demand destruction, which means prices will stall.

Crude oil stayed firm during the announcement and is currently trading around 113.37 which is back above the month open.

Get today's Pre-Market Planning numbers here.

~ TBUZ

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Health care services, Anthem (ANTM), bounced off its 200-day moving average and is approaching its 50-day resistance. A break above this, targets recent high at $520.

The broad market is not healthy, so caution is merited.

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