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The stock market pulled back on Friday following a disappointing September jobs report. Nonfarm payrolls of 194,000 were well shy of forecasts for a reading of 500,000.

The unemployment rate fell to 4.8%, but this was due to the fact the labor force participation rate fell to 61.6%, versus 61.7% in August. The major indexes held up well despite the headline miss as they finished the week slightly higher. The small-caps were the exception as they were lower for the week and led Friday’s weakness.

The Russell 2000 closed on its session low of 2,233 (-0.8%). Upper support at 2,225-2,200 and the 50-day moving average were challenged but levels held. A move below the latter and the 200-day moving average would signal additional weakness towards 2,175-2,150.

The Nasdaq tested a midday low of 14,569 while ending at 14,579 (-0.5%). New and upper support at 14,550-14,400 was challenged but also held. A drop below the latter would indicate a retest towards 14,350-14,200.

The S&P 500 settled at 4,391 (-0.2%) with the late day low tapping 4,386. Current and upper support at 4,375-4,350 easily held. A close below the latter would suggest another back-test to 4,325-4,300.

The Dow kissed an intraday low of 34,661 before finishing at 34,746 (-0.03%). Fresh and upper support at 34,750-34,500 failed to hold. A move below the latter would suggest weakness towards 34,250-34,000.

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ANALYST UPGRADES/DOWNGRADES

Hormel Foods (HRL) upgraded to Neutral from Underweight at JPMorgan
Northern Trust (NTRS) upgraded to Buy from Neutral at UBS
Plug Power (PLUG) upgraded to Equal Weight from Underweight at Barclays

Allogene Therapeutics (ALLO) downgraded to Hold from Buy at Stifel
J.B. Hunt (JBHT) downgraded to Underweight from Neutral at JPMorgan
Sirius XM (SIRI) downgraded to Neutral from Overweight at JPMorgan

FRIDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: None
After the close: ​​​​​​​​None

FRIDAY'S ECONOMIC NEWS
None


Note: NYSE and NASDAQ are open on Columbus Day. However, the bond market follows the SIFMA schedule and is closed on Monday, October 11, 2021.

METALS/ OIL
Gold closed at $1,757.40 an ounce, down $1.80
Silver settled at $22.70 an ounce, up $0.04
Copper finished at $4.28 a pound, up $0.04
Crude Oil was at $79.59 a barrel,  up $0.68
Bitcoin Investment Trust (GBTC) ended at $42.34, up $0.79

I hope this helps you prepare for the trading day. Make it a great one!

 Todd Mitchell

Not sure the best way to get started?

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The post Jobs Data Misses Expectations appeared first on Trading Concepts, Inc..

The stock market showed continued strength on Thursday after Congress approved legislation to temporarily raise the federal government’s debt limit and avoid the risk of a historic default later this month. However, the can was only kicked down the road until early December as a decision on a longer-lasting remedy remains in play.

The major indexes extended their winning streaks to three-straight sessions, for the most part, as volatility closed back below 20 and a key level of support. The gains come ahead of Friday’s all important jobs report and will be a true test for the bulls heading into next week’s start of the third-quarter earnings season.

The Russell 2000 made a run to 2,265 while finishing at 2,250 (+1.6%) and back above its 50-day moving average. Lower resistance at 2,250-2,275 was reclaimed. A close above the latter would be a bullish development for a run towards 2,300-2,325.

The Nasdaq reached a peak of 14,755 before ending at 14,654 (+1.1%). Fresh resistance at 14,650-14,800 was recovered. A pop above the latter and the 50-day moving average keeps upside towards 14,900-15,050 in focus.

The Dow tapped an intraday high of 34,975 while settling at 34,754 (+1%). Prior and lower resistance at 34,750-35,000 was cleared and held. A close above the latter and the 50-day moving average would suggest further strength towards 35,250-35,500.

The S&P 500 closed at 4,399 (+0.9%) with the peak kissing 4,429. New and lower resistance at 4,425-4,450 was breached but held. A move above the latter and the 50-day moving average would signal ongoing momentum towards 4,475-4,500.

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ANALYST UPGRADES/DOWNGRADES

Five Below (FIVE) upgraded to Overweight from Equal Weight at Morgan Stanley
Nio (NIO) upgraded to Buy from Neutral at Goldman Sachs
Square (SQ) assumed with Buy from Hold at Jefferies

Ally Financial (ALLY) downgraded to Equal Weight from Overweight at Stephens
Citrix (CTXS) downgraded to Neutral from Buy at Citi
Teleflex (TFX) downgraded to Sector Weight from Overweight at KeyBanc

FRIDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: Byrna Technologies (BYRN)
After the close: ​​​​​​​​None

FRIDAY'S ECONOMIC NEWS
​Nonfarm Payrolls - 8:30am
Wholesale Trade - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS/ OIL
Gold closed at $1,759.20 an ounce, down $2.60
Silver settled at $22.66 an ounce, up $0.13
Copper finished at $4.24 a pound, up $0.09
Crude Oil was at $78.91a barrel,  up $2.29
Bitcoin Investment Trust (GBTC) ended at $41.55, down $1.23

I hope this helps you prepare for the trading day. Make it a great one!

 Todd Mitchell

Not sure the best way to get started?

Follow these 3 simple steps ...

Step #1: Get These FREE Reports & Videos
Options INCOME  Profits   8 Video  Series    Habits that Kill Traders...


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Step #3: Connect with The Community
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The post Volatility Falls Below 20 appeared first on Trading Concepts, Inc..

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
CO-HOST: MIKE TOSAW, ST. CHARLES WEALTH MANAGEMENT

IN THIS EPISODE MARK, THE ROCK LOBSTER, AND THE BIRTHDAY BOY UNCLE MIKE BREAK DOWN:

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  • SEPTEMBER OPTIONS VOLUME NUMBERS FROM OCC
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The stock market was back in a downtrend on Monday as better-than-expected economic news was overshadowed by the inability to raise the debt limit and avert a potential government default. News that factory orders increased 1.2% in August and are now up four-straight months failed to lift sentiment.

The lower lows were a renewed bearish development and comes ahead of a busy week for additional economic news with the biggest being the monthly jobs report. Volatility spiked but once again held a key level of resistance.

The Nasdaq tested a midday low of 14,181 while ending at 14,255 (-2.1%). Prior and upper support from mid-July at 14,250-14,100 was breached but held. A drop below the latter would indicate additional downside pressure towards 14,000-13,850 and the 200-day moving average.

The S&P 500 settled at 4,300 (-1.3%) with the low tapping 4,278. Longer-term and upper support from early July at 4,300-4,275 was tripped but held by a half-point. A close below the latter keeps a retest towards 4,250-4,225 in play.

The Russell 2000 ended at 2,217 (-1.1%) after tagging an intraday low of 2,210 while closing back below its 50-day moving average. Upper support at 2,225-2,200 was triggered and failed to hold. A move below the latter and the 200-day moving average would signal additional weakness towards 2,175-2,150. 

The Dow bottomed at 33,821 before finishing at 34,002 (-0.9%). Key support at 33,800 was challenged but held. A close below this level would suggest weakness towards 33,650-33,400 and the 200-day moving average.

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ANALYST UPGRADES/DOWNGRADES

DuPont (DD) upgraded to Overweight from Neutral at JPMorgan
Southwest (LUV) upgraded to Overweight from Equal Weight at Barclays
Union Pacific (UNP) upgraded to Overweight from Equal Weight at Barclays

3M (MMM) downgraded to Neutral from Overweight at JPMorgan
Akamai (AKAM) downgraded to Sector Weight from Overweight at KeyBanc
Tractor Supply (TSCO) downgraded to Neutral from Buy at BofA

TUESDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: PepsiCo (PEP)
After the close: ​​​​​​​Saratoga Investment (SAR)

TUESDAY'S ECONOMIC NEWS
​PMI Services Index - 9:45am
ISM Manufacturing Index - 10:00am

METALS/ OIL
Gold closed at $1,767.60 an ounce, up $9.20
Silver settled at $22.64 an ounce, up $0.10
Copper finished at $4.24 a pound, up $0.05
Crude Oil was at $77.63 a barrel,  up $1.89
Bitcoin Investment Trust (GBTC) ended at $39.13, up $1.94

I hope this helps you prepare for the trading day. Make it a great one!

 Todd Mitchell

Not sure the best way to get started?

Follow these 3 simple steps ...

Step #1: Get These FREE Reports & Videos
Options INCOME  Profits   8 Video  Series    Habits that Kill Traders...


Step #2: Enroll in an Advisory or Educational Program
Premium Advisories | Featured  Educational  Programs 


Step #3: Connect with The Community
Trading Concepts Official Facebook Page

The post Whipsaw Action Continues on Lower Lows appeared first on Trading Concepts, Inc..

Keep an eye on  Merck (MRK).

The stock could see higher highs after noting it would submit its oral, antiviral pill to the US FDA for emergency use authorization. All after analysis shows the drug cut the risk of hospitalizations or death by nearly half in a late stage trial.

According to the study, 14.1% of those that received the placebo were either hospitalized or died after 29 days, as compared to the 7.3% that received the treatment. Also, according to an independent data committee, trial recruitment can stop thanks to positive results, says Barron’s.

Former US FDA Commissioner Dr. Scott Gottlieb even said, “This is a phenomenal result. This is a profound game-changer to have an oral pill that had this kind of effect, this magnitude of effect in patients who are at high-risk who are already symptomatic,” as quoted by CNBC.

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The post Extreme Option Profits Chart of Day…Merck (MRK) appeared first on Trading Concepts, Inc..

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
CO-HOST: ANDREW GIOVINAZZI, THE OPTION PIT
CO-HOST: MIKE TOSAW, ST. CHARLES WEALTH MANAGEMENT

IN THIS EPISODE MARK, THE ROCK LOBSTER, AND THE BIRTHDAY BOY UNCLE MIKE BREAK DOWN:

  • MOST ACTIVE EQUITY OPTIONS TODAY INCLUDING MRK, F, FB
  • THE COST OF ENTRY FOR MARKET HEDGING RIGHT NOW
  • UNUSUAL OPTIONS ACTIVITY IN BBWI, GGAL, NOC
  • THE DIFFERENCE BETWEEN ACTIVE AND PASSIVE HEDGING
  • AND MUCH MORE…

​​Dr. Anthony Fauci was under fire on Sunday for suggesting Americans might have to spend Christmas alone in 2021.

On CBS’s "Face The Nation," Fauci spoke with anchor Margaret Brennan about the status of the coronavirus pandemic and what is expected in the months to come. Specifically, Brennan wondered if families can gather for Christmas.

"We can gather for Christmas, or it’s just too soon to tell?" Brennan asked.

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Fauci responded it was "too soon to tell" if people could gather in groups by Christmas this year.

"It is just too soon to tell," Fauci said. "We have to concentrate on continuing to get those numbers down and not try to jump ahead by weeks or months and say what we’re going to do at a particular time."

Critics slammed Fauci for suggesting that families should spend Christmas apart.

"Dr. Fauci said today it’s too soon to know whether people will be able to gather for Christmas. Insanity. Who in the world is still listening to this dude?" OutKick founder Clay Travis wrote.

Contributing editor for The Spectator Stephen Miller tweeted "Has Fauci weighed in at all on the indoor maskless award shows? If not why not?"

"It’s bad enough that Fauci says these ridiculous things, but it’s worse that journos keep framing questions to him as if he has any say over whether we get together for Christmas," Washington Free Beacon reporter Chuck Ross wrote


Some Republican lawmakers also criticized Fauci like New York Rep. Claudia Tenney who said Americans are going to celebrate Christmas, regardless of what Fauci or President Biden say. 

Dr. Fauci, who serves as the Director of the National Institute of Allergy and Infectious Diseases, has made several predictions of when things can go back to normal. In December 2020, he previously faced backlash for suggesting that Christmas cannot be "business as usual" but predicted that holidays should be normal by 2021.

"It is highly likely that with vaccines being distributed, that we will be back to normal by next Christmas," Fauci said last year.

Fauci also used his appearance on "Face The Nation" to emphasize the need to get people vaccinated and receiving booster shots if appropriate.

"Let’s focus like a laser on continuing to get those cases down. We can do it by people getting vaccinated. Also, in a situation where boosters are appropriate, to get people boostered because we know that they could help greatly in diminishing infection and diminishing advanced disease, the kinds of data now accumulating in real time," he said.


Source: Fox News
https://www.foxnews.com/media/fauci-slammed-claiming-too-soon-to-consider-christmas

I hope this article helps in your trading strategy.

The post Fauci Slammed for Claiming It’s ‘Too Soon’ to Consider Christmas Gatherings appeared first on Trading Concepts, Inc..

The stock market rebounded on Friday following positive economic data and progress in DC on the potential passage of an infrastructure bill. After a choppy open, the rally gained momentum following news President Biden was getting more involved in negotiations over the infrastructure spending bill being debated on Capitol Hill.

As far as economic news, consumer sentiment rose to 72.8 in the final September reading, up from 71 in the preliminary report while the ISM manufacturing index rose 1.2 points to 61.1. Meanwhile, volatility fell but remains slightly elevated after failing to recover a key level of support.

The Russell 2000 settled at 2,241 (+1.7%) with the intraday high hitting 2,252. Lower resistance at 2,225-2,250 and the 50-day moving average were cleared and held. A close above the latter would signal additional upside towards 2,275-2,300. 

The Dow tested an afternoon high of 34,490 before ending at 34,326 (+1.5%). Near-term and lower resistance at 34,250-34,500 was reclaimed. A move above the latter would suggest further gains towards 34,750-35,000 and the 50-day moving average.

The S&P 500 finished at 4,357 (+1.2%) with the second half peak kissing 4,375. Current and lower resistance at 4,350-4,375 was recovered. A close above the latter would likely lead to a retest towards 4,400-4,425.

The Nasdaq closed at 14,566 (+0.8%) after reaching a peak of 14,606. Fresh and lower resistance at 14,500-14,650 was cleared and held. A pop above the latter would indicate ongoing strength towards 14,750-14,900 and the 50-day moving average.

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ANALYST UPGRADES/DOWNGRADES

General Mills (GIS) upgraded to Buy from Neutral at Citi
Lazard (LAZ) upgraded to Outperform from Market Perform at Keefe Bruyette
Southwest (LUV) upgraded to Overweight from Neutral at JPMorgan

Alibaba (BABA) downgraded to Outperform from Strong Buy at Raymond James
Canopy Growth (CGC) downgraded to Neutral from Buy at BofA
Spirit Airlines (SAVE) downgraded to Neutral from Overweight at JPMorgan

MONDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: None
After the close: ​​​​​​Comtech Telecommunications (CMTL), Duckhorn Portfolio (NAPA)

MONDAY'S ECONOMIC NEWS
​Factory Orders - 10:00am

METALS/ OIL
Gold closed at $1,758.40 an ounce, up $1.40
Silver settled at $22.54 an ounce, up $0.49
Copper finished at $4.19 a pound, up $0.10
Crude Oil was at $75.74 a barrel,  up $0.55
Bitcoin Investment Trust (GBTC) ended at $37.19 up $3.34

I hope this helps you prepare for the trading day. Make it a great one!

 Todd Mitchell

Not sure the best way to get started?

Follow these 3 simple steps ...

Step #1: Get These FREE Reports & Videos
Options INCOME  Profits   8 Video  Series    Habits that Kill Traders...


Step #2: Enroll in an Advisory or Educational Program
Premium Advisories | Featured  Educational  Programs 


Step #3: Connect with The Community
Trading Concepts Official Facebook Page

The post Bulls Rally to Start October appeared first on Trading Concepts, Inc..

​The catchphrase "Save-the-Planet" evolved over the last five decades into a sacred chant of "Stop-The-Climate-from-Changing."

The dire predictions in the 1970s of a coming ice age have since morphed into the frightening peril of global warming. In turn, it was mystically transformed into one of the imminent, existential threat of fossil fuel emissions ending the world as we know it.

By eliminating the use of oil and natural gas for energy and making modern-day products, the prophets of our age say that, instead, humankind can turn to nature to control the temperature changes of the world.

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We know this because Al Gore, and other notable proponents of carbon credit exchanges and environmental, social and governance (ESG) indexes, told us it was true. Their message is that our species cannot survive unless we achieve net-zero carbon emissions.

Computer model-generated climate predictions have now become “irrefutable scientific proof.” Anyone with the temerity to say that not one of these computer-generated models have accurately predicted weather events runs the risk of being labeled a “climate denier.”

For the climate change True Believers, Nietzsche was right: “God” is dead. Al Gore has taken His place.

A threshold commitment by the Faithful to net-zero emissions requires battery-powered vehicles to replace ones using carbon-based fuels.

Governments, tax-exempt philanthropies run by globalists, and Wall Street spent billions upon billions of dollars incentivizing or coercing both buyers and auto manufacturers of cars to transition from gasoline and diesel-fueled engines to battery-operated ones.

Critics were, and still are, severely demonized by the major media, and their messages are being censored by high-tech social media companies that dominate the Internet.


Nonetheless, no matter how much climate change propaganda inundates the public, there is comparatively little consumer enthusiasm for electric vehicles (EVs).  

Read full article here

Source: NewsMax
https://www.newsmax.com/finance/kleinfeld/electric-vehicles-ev-climate-change-oil-and-gas/2021/09/30/id/1038631/

I hope this article helps in your trading strategy.

The post Kleinfeld: Can Investors Depend on Electric Vehicles? appeared first on Trading Concepts, Inc..

The stock market ended September on a down note after trading higher on the open following news the U.S. Senate and House approved a stopgap spending bill to keep the U.S. government afloat through early December. However, the legislation did not address the debt limit, keeping the possibility of a Mid-October default, and sending the major indexes lower throughout the session.

The Dow bottomed at 33,833 before finishing at 33,843 (-1.6%). Upper support at 34,000-33,750 failed to hold. A close below the latter would suggest weakness towards 33,500-33,250 and the 200-day moving average.

The S&P 500 settled at 4,307 (-1.2%) with the late day low tapping 4,306. Prior and upper support at 4,325-4,300 was breached and failed to hold. A close below the latter would be an ongoing bearish development with retest potential towards 4,275-4,250 and mid-July levels.

The Russell 2000 closed on its session low of 2,204 (-0.9%). Prior and upper support at 2,225-2,200 and the 200-day moving average failed to hold. A close below the latter would signal a further fade towards 2,175-2,150.

The Nasdaq ended at 14,448 (-0.4%) after tagging a September low of 14,444. Prior and upper support at 14,500-14,350 was breached and failed to hold. A drop below the latter would indicate weakness towards 14,250-14,100.

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ANALYST UPGRADES/DOWNGRADES

Amicus (FOLD) upgraded to Overweight from Neutral at JPMorgan
FactSet (FDS) upgraded to Neutral from Sell at UBS
Perrigo (PRGO) upgraded to Buy from Hold at Jefferies

AB InBev (BUD) downgraded to Hold from Buy at Argus
Kohl's (KSS) double-downgraded to Underperform from Buy at BofA
Starbucks (SBUX) downgraded to Neutral from Overweight at Atlantic Equities

FRIDAY'S EARNINGS ANNOUNCEMENTS 
Before the open: HNI Corporation (HNI)
After the close: ​​​​​None

FRIDAY'S ECONOMIC NEWS
​​ISM Manufacturing Index - 10:00am
Construction Spending - 10:00am
Baker-Hughes Rig Count - 1:00pm

METALS/ OIL
Gold closed at $1,757.00 an ounce, up $34.10
Silver settled at $22.05 an ounce, up $0.56
Copper finished at $4.09 a pound, down $0.11
Crude Oil was at $75.19 a barrel,  up $0.35
Bitcoin Investment Trust (GBTC) ended at $33.85 up $1.73

I hope this helps you prepare for the trading day. Make it a great one!

 Todd Mitchell

Not sure the best way to get started?

Follow these 3 simple steps ...

Step #1: Get These FREE Reports & Videos
Options INCOME  Profits   8 Video  Series    Habits that Kill Traders...


Step #2: Enroll in an Advisory or Educational Program
Premium Advisories | Featured  Educational  Programs 


Step #3: Connect with The Community
Trading Concepts Official Facebook Page

The post Bears Get September Win appeared first on Trading Concepts, Inc..

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