April 26, 2022

Markets:

Stock futures fell slightly on Tuesday a day after a big reversal in markets gave some traders hope the April sell-off was nearing an end.

On Monday, the Dow advanced more than 200 points, after cutting a near 500-point loss from earlier in the day. The dramatic market reversal pushed the Nasdaq Composite higher by 1.3% and the S&P 500 up by 0.6%.

The bounce was welcomed by investors after stocks ended the previous week on a sour note, with the Dow falling to its fourth losing week in a row and the S&P and Nasdaq hitting three-week losing streaks Friday. The tech-heavy Nasdaq fell into bear market territory last week, but after Monday’s comeback sits 19.8% from its record. For April, the S&P 500 is off by 5% and the Nasdaq is down more than 8%.

Alphabet and Microsoft were slightly higher in premarket trading Tuesday before their quarterly reports after the bell. Meta, Amazon and Apple will report later in the week.

In economic data, investors are expecting fresh numbers for new home sales and consumer confidence Tuesday morning.

Portfolio:

We enter the new session holding positions in DKNG, AI, AA, and ITRM.  Tonight we welcome the start of monster earnings reports. Once they release, a new run way presents itself to trade.  Stay patient.  Daily reminder; do not get caught with chasing day to day swings.  Let's continue to find opportunity and take advantage of it.  Let's have a great session and be ready today.  A monster portion within the calendar year is coming.  Take advantage of it.