February 28, 2023

Markets:

Stocks futures rose Tuesday as investors braced for the final trading day of February.

Tuesday marks the last day of February. Despite a solid start to the year, the major indexes are on pace for their second negative month in three. As of Monday’s close, the Dow is down 3.5% for the month and the only major index negative for the year. Both the S&P 500 and Nasdaq are positive in 2023, but down 2.3% and 1%, respectively, in February.

On the economic front, investors also await consumer confidence data, wholesale inventories, Chicago PMI and the S&P Case-Shiller home prices index.  

Bitcoin and ether rose slightly Tuesday morning and were on pace to end the month higher, despite slipping earlier in the month.

Global stocks were slated to end February with a loss. The iShares MSCI ACWI ETF — which tracks the All Country World Index — was down 2.8% for the month through Monday’s close. The S&P 500, meanwhile, has lost 2.3% in February.

Portfolio:

We enter the last trading session of the month holding set-ups in FLNG, NU, TNK, UNG, and VKTX.  Month two finalizing and we look forward to the start of March and the opportunities in front of us.  Outstanding start to the new year but now we begin to focus on a few seasonal trade set-ups as well.  Technically, nothing has changed and we will continue to remind everyone of this fact. It will be interesting to see if we continue to build on this technically in March.  Queue is super active and we are ready for every trigger!  Be on alert and be ready.  Expect swings today with month end trading upon us.  It's been a pattern of late.