1/12 Recap

We got earnings from some big banks that didn’t really go so well with all of them red right now. JP Morgan led the way posting a near $50B profit for 2023 and Wells Fargo being the worst today down nearly 4%. The PPI number was also this morning and came in at 0%, markets initially loved it, but then they sold off. We’re in another era of who knows what is coming over the weekend after we attacked the Houthis yesterday in Yemen. Will they retaliate? The answer was yes according to the Twitter Spaces one of their leaders held last night. What will that retaliation look like or when will it be is anyone’s guess but markets hate question marks and it makes sense they’re selling into the weekend. Nonetheless, for now we remain about the 8 ema and the market remains ok.

Oil is putting in a nasty reversal candle today, it got up near $75 this morning and has now faded all the way down near $72. Let’s see where this candle closes today but participants aren’t too bullish on the prospects of widening conflict in the Middle East.

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Today’s Link

Again I got a few messages saying the link didn’t work this morning, as I said the last 2 days, your link will not work when the market opens unless you’re in the LIVE portion on most days. As I begin to log trades they show up in the database and it wouldn’t be fair for the people paying extra for the live data. Today though is Friday and the market is closed monday, so I am going to open today’s link until market open on Tuesday. That way those who want to dig through over the weekend can have at it. Also in the past many of you have asked me “what about the trades after you log off”, I note all the unusual activity, I usually go back in later in the day and add the rest of the data at no specific time, so if you check the database late at night or in the morning, there will be more trades on that days log. Anyways, here is the link for this weekend and it will cutoff at 9:30 AM EST Tuesday.