July 21, 2022

Markets:

S&P 500 futures dipped Thursday after a batch of mixed corporate earnings from companies. Tesla shares boosted Nasdaq 100 futures.

Futures tied to the Dow Jones Industrial Average shed 117 points, or 0.37%. S&P 500 futures ticked down 0.23%, while Nasdaq 100 futures gained 0.01%.

The moves come as Wall Street is enjoying a July rebound. All three major averages hit their highest levels in more than a month during Wednesday’s session, with the S&P 500 reaching its best closing level since June 9.

The Nasdaq Composite jumped nearly 1.6% on Wednesday, its fourth positive session in five. The tech-heavy index is up about 3.9% for the week.

On the data front, investors will also be watching initial jobless claims data, which has been trending upward in recent weeks.

Portfolio:

We enter the new trading session holding positions in WEBR, S, and holding itrm. Very strong week thus far but the real excitement is beginning to brew for the months ahead. This current price cycle continues to build a trend line pinpointed, and we foresee heading into mid-terms. We have so much potential to have an outstanding period and it's already begun. Please be ready today, although we could see a chop session as traders digest current activity. Do not rush in, be patient today. Allow price activity to materialize a bit more and then let's pinpoint opportunity over the next two sessions to position ourselves further for next week and the weeks to come. Let's have a great session.