Fast money. We are live. Lets begin with the great rate rall. Rising as high as. 33 . The move taking a toll on stocks. The dow down 290 points, the latest index to move below its average. It is the first time it has done that since first, so is there any end in sight . I thought actually markets did okay, considering the huge climb. It is interesting. I know for a fact that miley cyrus is a huge fast money fan and one of her hits is called, the climb. This is not what you want to see. The rates are going higher. Events are going on globally. We are at levels we havent seen in quite some time. I have looked at it and i think we are about to break through a forty year downtrend in yields. To me, it will be very negative. You are right, the stock market sought off late. We are at levels at the s p we topped out at last year. There should be support but if yields continue to move like they are you moving, there will be ramifications. I think they will top out next week. Everyone has gotte
Said biden made it worse, that is not good for president hu is touring the country trying to sell bidenomics. Maybe thats why an increasing number of democrats are trying to get him to step aside. Congressman dean phillips has launched a National Campaign asking the party to find someone else. After many summit with leaders of south korea a the president leleaves in lake tahoe californa so he can be in hawaii on monday. Lets get to the market, you are not going to like this, look out below, the dow is looking at the worst week in five months. The opening bell, were probably going to be down 160 into serious loss and the nasdaq, down 130 points. Interest rates, uptrend, that is not good for stocks, the ten year treasury yields well above four and a quarter percent, 427 in the twoyear treasury getting the same of what what it was yesterday. Slick close to 5 , look at bitcoin a sudden drop after elon musk said he had written down the value of the Crypto Holding that spacex, the wall stree
Call me or tweet me jim cramer, the battle between truth and fiction plays out every da i in this market, and sadly, fiction usually wins that includes days like today where the dow shed 181 points, s p declined. 76 , nasdaq lost 1. 15 . Last fall, things have turned nasty, havent they . Im starting to see the same old negative on wheat creep back in the market, plagued by imaginary scenarios, we convince ourselves represent reality, and make us say, who needs this nonsense lets just go sell everything and buy some bonds house of pleasure. The first absurdity, the first fantasy, that somehow theres a correlation between the newly weak bank stocks and reality, because these Bank Failures last spring have left a nasty taste in our mouths. The vast majority are doing well in this country. Guess, what they werent doing it anyway. Almost every class of loans is doing great, credit cards, home equity, Small Business loans, even the dreaded Office Building loans are looking good, which are a
Out of their shells. Finally, our latest deere trade got caught in the headlights but well help you see the forest through the trees and see your way through. On the desk tonight we have mike khouw, carter worth, and brian stutland. Lets get to it. Another slew reporting next week, including macys lowes and their tickers are separated by one different letter. Their price action couldnt be more dissimilar. However, carter worth believes one is going to turn a corner and the other is heading in the same direction. Carter, which is which . Were getting to the end of earnings season. Its retailing big names that bring up the rear. Banks lead, retailers end it. Today were going to look at one name thats been very, very strong, and one name thats been a real laggard and each is an opportunity because of that circumstance. Lets get right to the charts. What were going to see is three identical charts. Kohls first. Its a laggard. We have the makings of a double bottom. And then the second of t
Lets with the big week with bigbox retail front and center. Home depot, target, tjx have surpassed the market. What are you seeing and what name . Lets drill down on home depot. Walmart has a new. So does tjx. In itself, it is down 22 from the high whereas the s p is down only 7 . Is a three identical charts. No drawings and no lines and no judgment. Lets put one in. What do we have . Have converging trendlines and strength that is enough to move up and out of the apex formation. Another way to annotate it, the third and final chart, it follows for the want to call it a cup and handle or double bottom, it is that the element and definition of a turn and one wants to belong on home depot and walmart is back at that former high, and so is tjx. Something like home depot has room to run. That is an interesting chart. How you setting up on home depot ahead of tuesdays report . It is one f the early once we get early in the morning on tuesday before we hear from the others. I think we should