Money Vikings Investing - Week of 4/23/2023

Market Report, Finviz/Sector Analysis, Hot Trades QQQ Hedge, Why I Keep a Trading Journal, Podcast, Earnings 🔥

• Major Indices down this week

• TSLA poor earnings dragged down the S&P

• The Nasdaq is testing the 20 day EMA

• Volatility is extremely low

• Lots of earnings from FAANG MAGA that will help market chose a direction next week

• BTC trading below 28K, near the lower Bollinger band reading of 26,770.

• Consumer Staples and Real Estate were the top leading sectors this week while Communication Services and Energy lagged

A new article on our blog :

Why I Keep a Trading Journal

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Finviz Heat Maps and Sector Analysis

Indexes and Macro Indicators

S&P 500

Yield Curve & Rates

Rates did not move much during this past week and the 10/2 spread didn’t change much either. Earnings next week and Fed Update in the coming weeks will help the market pick a direction.

The VIX

The VIX has not been at 16 since Nov 16th, 2021. The Fear and Greed indicator didn’t change much since the prior week, and the Put Call Ratio continues to be around .90, meaning for every 100 calls bought, there are 90 puts bought (bullish sentiment).

Earnings & Economic Events Next Week

There are so many things to watch next week, just a few we’re watching closely for possible earnings plays : Google, Microsoft, Visa, Crocs, Amazon, Meta, Abbvie, Chevron, ExonMobil, and Verizon. In addition to earnings, there are also a few economic events to keep an eye on. Tuesday we’ll get Building Permits, Wednesday, Crude Oil Inventories, Thursday Jobless Claims, Philadelphia Fed Manufacturing Index, and Existing Home Sales. Friday we will get Services PMI. Throughout the week we also have a few FOMC members speaking.

HotTrades - Portfolio Insurance (Cheap!)

The VIX gets all the attention, but did you know that many other ETFs have their own volatility indicators? For example the Nasdaq volatility is VXN, and it is also very low, closing at 21.29 on Friday. With lots of tech earnings coming up next week, a cheap hedge could be bought in QQQ.