March 14, 2023

Markets:

U.S. stock futures rose on Tuesday as investors digested the latest inflation data.

Bank stocks rebounded somewhat after getting pummeled during Monday’s trading session. 

The tech-heavy Nasdaq Composite bucked the trend, rising 0.45%, as some investors bet the collapse at Silicon Valley Bank could mean a pause in future interest rate hikes from the Federal Reserve.

The consumer price index rose 0.4% in February from the prior month, matching a Dow Jones estimate. The year-over-year increase of 6% was also in line with expectations.

European markets are heading for a higher open Tuesday even as the aftershocks from Silicon Valley Bank’s collapse continue to ripple through financial markets.

Portfolio:

We enter the new session holding setups in SCHW, BAC, and DAKT.  As of now, we will be raising our target on SCHW – Monster return brewing.  We will be looking to potentially release a new setup today as queue is super active.  We love to see this activity and really curious to see how we close today and where we stand technically.  S&P – bears & bulls – at a technical war, let's see what line we stand at later today.  Be ready today and let's have a great session.