3/22 Recap

We got a big selloff in consumer discretionary names today. Tesla guided down in China premarket and that combined with terrible numbers from LULU down 18% and NKE down 8% to hit the XLY today. Surprisingly, the biggest component of the XLY, Amazon, which makes up 25% of it, was green.

Overall the market continues to do what it has done for the last 6 months, just ride the 8 ema higher. This remains a perfectly intact uptrend on the SPY. The moving averages keep moving higher and will provide support at higher levels until they break, we’ve teased with that a few times but we always get saved right at the 21 ema as we last did 6 sessions back. That is about as perfect as it gets.

Oil has pulled back during the last 3 sessions to the 8 ema now. If oil doesn’t bounce here it is moving back below $80 for a very short lived breakout.

Yields continue to fall with the TNX just over 42 now down for 5 straight sessions.

Lastly, I added in some trades from yesterday to the database. I missed the session but there were a few trades that stood out to me and I added them if you want to see those.

Recent Trades

CNM - This trade is very relevant today because I have 5 names I highlighted below today, many which you haven’t heard of that are industrials like the one below. I highlighted CNM in the 2-26 recap with that 1 lot that came in, the stock is up nearly 30% in the month since from 47.59 to 58.08 as I type this. These trades where you don’t know the ticker and I barely have anything in my database on it are very intriguing ones more often than not.

MU was another I highlighted in the 3/1 recap when those max strike calls came in. It was up over 113 yesterday and a flurry of much higher calls have come in since. These multi year breakouts very often lead to powerful moves, there are times they don’t like LULU today, but that is much rarer. Again notable today because I have many down below.

Trends - FCX and MU atop the trends this week with MU making that monster move on earnings. NKE made the top of the weekly list because of all the trades that came in today AFTER the move down. DIS, VLO and CROX other top names short term that have been very strong.

1 Week

2 Week

1 Month

Today’s Unusual Options Activity

Below is today’s link to the database, it will be up all weekend until the open monday. I will have the rest of today’s action updated by the end of the day. The screenshot below is a partial list of what I have up until now, the full day’s action will be on the link below.