Submitted by NSIsmartnews t3_zz1uqc in wallstreetbets
Market Sentiment at the Open:
Another low volume day. With Tesla delivery numbers due over weekend, swing in stock expected
Markets open full time today. Monday closed
Bulls may like this
- Asia-Pacific markets rise in final trading session of 2022
- China appointed its ambassador to the US, Qin Gang, as the new foreign minister, as the nation shows signs of moving back to a lower-key diplomatic strategy
Bear thesis
- Chinese military jet buzzed US Air Force plane just 20 ft away in South China Sea
- As Covid-19 infections surge in China, the U.S. Centers for Disease Control and Prevention is considering sampling wastewater taken from international aircraft to track any emerging new variants
- U.S. and global health officials are worried about lack of transparency from China on Covid outbreak
Stock Specific
- Southwest Airlines says holiday meltdown will ‘certainly’ hit fourth-quarter results
- Baron's indicates that Musk dodged margin call today. Delivery numbers expected over weekend- 425,000 expected for the quarter
- Cathie Wood still buying & averaging down TSLA holding
- Cathie also added $5.5 Million in COIN.
- AMC: Avatar is now one of six movies in history to hit that milestone in its first two weeks on screen
- A congressional report over BIIB‘s Alzheimer’s drug, Adulhelm, said that Biogen set an “unjustifiably high” price
Other news - Biden signs $1.7 Trillion funding bill
- RIP Pele
Significant Events Calendar:
Time >>>>> Event >>>>>>> Interpreting the report (Oversimplified)
09:45 ET >>> Chicago PMI >>> Not much impact
VisualMod t1_j28whof wrote
>From a technical standpoint, the market looks like it is setting up for a move to the downside. The bulls have been unable to push prices higher over the past few days, and now we are seeing some bearish momentum building. I would be cautious about taking any long positions at this time.