More headlines hitting: UK IMPOSES ASSET FREEZE SANCTION ON PUTIN -FXHedge  

GERMANY FOREIGN MINISTER BAERBOCK SAYS PUTIN'S OFFER OF TALKS IN MINSK WAS "POISONED OFFER" AND EU MINISTERS DID NOT EVEN DISCUSS IT - GERMAN TV -Walter Bloomberg

U.S. EXPECTED TO IMPOSE SANCTIONS ON PUTIN AS SOON AS FRIDAY -CNN

Great chart, the 13 ma coincides with the 61.8 fib right now at 4,408

The 9/13 cross is right there. I know it has work to do from here, though that being said..the market has been too negative on both sides of the trade at extremes. When the buy signal came yesterday into the big drop, the Fear/Greed index was at 15. RSI on the indexes long term in the 20s. Can't get a better risk/reward than that. Now you just trail up however you like. The news has obviously been the wild card and no technicals can predict that. All we can do is trade what is in front of us and play levels. 

The 200 day is at 4,461 and there is a gap at 4,474, not getting too far ahead, just to be aware of. The news is helping today with the talks for now

Thanks Steve. Glad to hear you are doing well. 

They are being bought out by Blackstone for $25 a share. I posted it here in the $5s for a long term buy. BRG got bought out as well recently in $26s, also discussed that one in single digits. I've been just as right as wrong concerning individual names. I think it is the hardest thing to do in the stock market these days. It can become a popularity contest and one can be right for the wrong reasons and wrong for the right reasons and everything in between. I've had a lot more success long term with discipline in indexes and buying low/selling high over longer periods.

We hit 207.16 today, gonna depend on the general market weather here too now..not worried about it, it is a small position I established with profits from the last run up in other names. Paid for position that allows me a little fun and so I don't bother my larger portfolios. SPX has a gap above at 4,475 now and QQQ a gap above at 356.04. 

ya, not looking like I should have tried it at the moment  Fortunately my trading account is at 76% cash overall right now after a lot of selling into the high 4,500s resistance. 

I took a small position on the breakdown, now in ridiculous territory, though I guess it could always get more ridiculous if the general market continues lower. A 24 rsi at this valuation is insane for FB given their profits. 

I agree, they are exhausting. Totally not needed

Good report, backed long term forecast, raised dividend: https://www.cnbc.com/2022/02/17/walmart-wmt-earnings-q4-2022.html 

Slow money, though I think it can do well even with volatility persisting. Looks de-risked relatively vs. some other areas

FB To combine with Matt's chart as we are looking for a bounce. I'm attaching page 3 of Morgan Stanley's recent report which was updated after recent earnings. Some really good info in the whole report, though this page points out how low valuation is right now compared to other historic events, like covid, data leak, etc. when the stock typically bottomed before resuming upward. Given how stretched it is technically, I feel even more confident with this information. 

They lowered their 12 month target after recent earnings from $395 to $360. I'm just looking to see if we can see some bounce to the 9 or 13 day area to start and how the market looks at that time. One day at a time, etc. A few option trades are very enticing at these levels too, though just long shares also attractive. 

WMT reports earnings this morning. I've been stalking the chart and looking for a divergent low. The stock is off about 9% over the last 12 months. They will probably have a good report and it run away from me now, though still watching. WMT may be setting up for an opportunity

Was one of the best low risk calls of the newsletter. Beautiful options trade in it that I'm sure will continue if SPX continues upward

The green zone chart was great and symmetry view on the SPX. I didn't see any extreme pivots chart, unless I missed it? Thanks again

Great newsletter Matt, very helpful in navigating the volatility and making decisions for my strategies. If you could please cover the "extreme pivot" areas for SPX in the next newsletter, it would be appreciated. I'm guessing they have continued to be pretty accurate for buying the dips/selling resistances. 

Some good news with the chip shortage still being a concern, Intel will be building new manufacturing plants in Arizona and Ohio: https://www.jobsohio.com/intelinohio

DIS also great earnings last evening. Stock up 7.65% in pre market right now. 

Earnings have been huge for the market in this recent advance and things holding up when they did since the year started amidst the other news related to fundamentals (rates, jobs, etc). My forecast for 2022 was a 10-15% correction and we got about 12%. High of the year at 5,000 and possible low around 4,095-4,000. Of course things can overshoot above or below with forced buying or selling shorter term. I continue to be long with the inventory I picked up when we dropped into low 4,300s for our IRAs. Let's see what happens with CPI today. 

We have two gaps right now, the one above at 4,662 and one below at 4,521. Will be interesting to see what SPX does at the 50 day moving average above. A move above it/4,600 would force buying/more covering into the market. 

TWLO reported last night and had blowout earnings, stock was up about 20% at last glance in pre, was up 24% in ah last night. Another one to monitor. It is #8 in her top 10 at 4.4% of the fund. ARKK will be ok if the S&P continues to perform. Otherwise, she's in trouble if the general market turns south again. I've traded it and have a limited position currently, about 2.5% of our net worth. 

Great letter Matt, really good work. Thank you!