November 14, 2022

Markets:

Stock futures traded lower Monday after the S&P 500 posted its biggest weekly gain in almost five months on the back of easing inflation data.

The tech-heavy Nasdaq Composite gained 8.1% last week for its best week since March, while the blue-chip Dow advanced 4.2%.

The Cboe Volatility Index, known as Wall Street’s fear gauge or the VIX, fell 1 point to 22.5, hitting the lowest level since August. The VIX, which tracks the 30-day implied volatility of the S&P 500, had traded above the 30 point threshold for most of October.

Fed Governor Chirstopher Waller said that, while the central bank could raise rates at a slower pace next month, this shouldn’t be interpreted as a softening sign in its fight to bring down inflation.

Ark Invest’s Cathie Wood once again urged the Federal Reserve to pivot from its aggressive rate-hike cycle, she said in a series of tweets Saturday.

The central bank could be pushing the economy into a serious downturn like the Great Depression if the Fed continues to ignore deflationary signals, Wood said.

Portfolio:

We enter the new trading week holding positions in SNAP, AI, IONQ, and FUBO. Queue continues to ignite and we expect a busy week ahead filled with opportunities to continue to position ourselves for the weeks to come. We love this time of year and the opportunities it brings. Right now, we are watching 3950 on the S@P and 4k. We still think 4100 has a real chance before months end should the price activity, we pinpointed continues to materialize. The year-end cycle as well as mid-term cycle continues to ignite. Let's take full advantage.