October 4, 2022

Markets:

Stock futures surged Tuesday as Wall Street aimed to build on a sharp rally seen in the previous session.

Monday brought a respite from slides seen throughout September and the prior quarter. The Dow jumped nearly 2.7%, or about 765 points. It was its best day since June 24. The S&P 500 advanced about 2.6% in its best day since July 27. The Nasdaq Composite increased roughly 2.3%.

Meanwhile, the yield on the 10-year U.S. Treasury note extended its decline and was trading at about 3.583%, down from more than 4% at one point last week.

Investors will watch for new data Tuesday from the Job Openings and Labor Turnover Survey administered by the Bureau of Labor Statistics.

The Bank of England announced a temporary bond buying program last week to calm financial markets in London, but the Federal Reserve has not hinted at any such program in the U.S. That move also appeared to be sparked by a budget proposal from U.K. politicians that unnerved bond traders.

Portfolio:

We enter today's session holding positions in ENVX, PARA, MPW, and Z. Queue is igniting early on this morning, and we will be looking to add. The narrative has quickly changed once again but trend lines are super vital right now. 3720 on the s&p is so important. If we cannot hold this line, hard fade and all these gains in the last day could easily be gone. Cannot stress this enough. Huge pivot point for this market. If we hold this well, we can see 4000 in a flash short term. Opportunities triggering. Be ready and let's have a great session.