November 11, 2022

Markets:

Stock futures rose Friday after China said it would ease some Covid measures, building on optimism from lighter-than-feared inflation data that fueled a broad market rally in the previous session.

China pulled back some Covid restrictions including shortening quarantine time for international travelers by two days, according to state media on Friday.

The news built on a rally that came after the Bureau of Labor Statistics reported a smaller-than-expected rise in consumer prices for the month of October, giving investors hope that inflation may be cooling. U.S. Treasury yields dropped after the data release, while tech stocks soared.

Investors are looking forward to preliminary University of Michigan consumer sentiment data, due out at 10 a.m. ET.

Portfolio:

We enter the final trading session of the week holding positions in AEHR, IONQ, and SNAP.  We want to add new setups to position ourselves further for the moves we see developing.  Thus far, thesis has been accurate on market trend lines and notion of marching higher after mid-terms into year end close.  So many monster setups now in place.  Throw in those seasonal trades and we have an outstanding period in front of us.  Barring any ridiculous news stories or narratives, we should have one of the best trend trading periods ahead.  Time has come.  Let's have a great session.