Stock Market Update Thursday 3/14 Stocks encountered subdued pressure across the major indices, marked by a significant decline of nearly 2% in the small-cap Russell 2000. Today's release of macroeconomic data, notably retail sales and the Producer Price Index (PPI), fell slightly short of expectations. It remains uncertain whether these data points exerted significant influence on stock market activity, given the impending March quarterly expiration tomorrow. Nevertheless, the indices displayed relative stability through midday, following fluctuations between higher and lower levels earlier in the session.
Away From Stocks: Thursday 3/14 A hotter than expected February PPI reading threw Treasury's for a loop, as yields jumped across the curve with the two-year note approaching its year-to-date highs at 4.68%, up 45 basis points from the final trading day of 2023. , while bitcoin retreated towards $70,000 and the VIX jumped back above 14. WTI crude topped $81 a barrel for its best finish since the fall, and gold slipped to $2,163 per ounce.
Happy Pi Day, traders! As we celebrate the mathematical constant π (pi) on March 14th (3/14), let's not forget the importance of precision and calculation in our trading strategies. Just as π is a fundamental constant in mathematics, careful analysis and strategic planning are essential in navigating the complexities of the stock market. So, as we honor the beauty of mathematics today, let's also reflect on the precision and attention to detail required for successful trading. Here's to making calculated moves and finding the perfect 'slice' of opportunity in the markets! Happy Pi Day!
Today's Time Pivots did not perform as expected, with options X showing a downtrend. Trading was highly volatile. However, our algorithm's momentum indicator performed exceptionally well both yesterday and today.
THIS PORTION OF THE REPORT IS SOLELY TO PREMIUM MEMBERS OF ALGOTRADEALERT