Listen: Boeing, UNH And Dow JP Morgan discussed on Business Beware
"Later tonight or over the weekend that you can listen to the show and posit wind it fast forward and all that stuff. Now, we spent the first part of the show going over earning season. We spoke about a few of the stocks JP Morgan specifically Wells Fargo, we mentioned delta Boeing is also turning around out of those three stocks. I mean for stocks. You've got a big portion of the move today. Talking about the market rep jump right into the Dow was up two hundred sixty nine points strong strong day up about a percent close at twenty six thousand four twelve the S and P five hundred up nineteen points at twenty nine seven. Nasdaq composite. It was up thirty six points to seventy nine eighty four. And the Russell two thousand was up about five and three quarters points to fifteen eighty five the vix fell eight percent close at eleven ninety six. Remember just quickly on the viks. The victims of very good fear index. Does a great job of measuring measuring? Downside volatility. Not a good job of measuring. Upside volatility now things that the surface to talk about United health health was down over five percent and group has just been getting whacked. So it's again, look at the relative strength basis. We have a chance look at a one year daily chart of UNH. Look at wellsfargo UFC, and you can go on and on. Just stand like a sore. Thumb one's going down the market and lots of other leading stocks are going up and you ask yourself, which one do you want to own? And that's why we look at leadership and isolate the strength at all times for you now outside of UNH, we spent spoke about Boeing briefly coming back around two hundred eight moving average a lot of questions about Boeing and the two hundred eight moving average, which is right around three sixty one right now just under three sixty one is support. If that level taken out, then we have to expect the stock the fall down to the low three hundreds if not the resistance area, the place that has hit a wall of lefty weeks that news came report came out back in early March about a month ago, the resistance area for Boeing is the fifty moving average, and that's right under four hundred three ninety eight with call it three ninety seven ninety two for those of you that want to be exact, but. Three ninety eight. So if we can break above three ninety eighth going most likely going higher retest the old heart highs, you'll chart is excuse me near forty six. If it takes two hundred day moving average near three sixty one became because it's probably gonna go lower to three hundred until then we have to expect the sloppy sideways rangebound action to continue, but it's a big component. So when it moves today was up almost ten points or two and a half percent. That adds a lot of points. The Dow JP Morgan safe thing moves it moves a lot of points. So even big under the surface realized with the handful of stocks now. Earnings. Let's get back to earn season that we can review to the end of the week as you know, I like to look at the market and say what happened this week well on a weekly chart if you take a look at all the major indices one by one it's bullish week. And now we're officially within. I would say arm's length if you will of twenty eight teams all time high. Which means the entire Klein in Q four of last year is almost a raced. That is impressive. So keep that in my life been on the two biggest macro themes, if you will the two biggest things that weight on the market back in Q four was a hawkish or aggressive fed and to the threat of a slowing economy. Now for all purposes, though, two things have really been. Isolated if not removed, meaning the fed has moved back to being easy money or into a dovish stance and the slow economy. We're starting to see signs that hey, the might not the global economy that is may not be slowing as fast as everybody was had had thought or had feared and that those for those reasons the big rebound in the market. So for now in the short term with miss nothing that we are extended to the outside and due to pull back and this could be a logical area. Here's flirting with twenty eight thousand psi, and we've had just a virtual straight up over the last several weeks. So a pullback to the fifty day would be somewhat normal and expected, but if we don't then we're likely to take out twenty thousand high hit new record highs again and then Q four sell off. We'll just be like reset which happened briefly in the summer of ninety eight when long term capital management failed in the Asian financial crisis in that lead to. To boom, a massive rally ninety nine ending in March of two thousand and that also happened briefly in late twenties and few other times along the way. So these steep short twenty percent pullbacks corrections or many bear market, or whatever you want to describe it. Within a longer term bull market have occurred before and tends to be bullet for the market because resets at least in the short term a lot of the fatigue that had that in going into early. The first half twenty eighteen now intermediate long-term, I would say support meter support would be December's low of last year if that's taken out I mean, that's a big long-term picture, then we have to expect the conversation the shift completely and back into a more dovish if me a more bearish camping the potential for real market unfold until then. Lots of other areas of support to to watch along the way, you can go look at the fifty moving average two hundred day moving average, you can use some of the recent lows March low, for example, and then December's low as areas to watch in the way down but intermediate long-term nothing bad to say, the long the market acting that way does and near-term resistance, of course, would be the twenty thousand highs but outside of that. The bullish tailwind continues. For those of you listening over the last several weeks. I mean talked about that with the great American tailwinds. So might play on that is the bullish tailwind for the market. Now. Earnings with Quebec earning for the market things could shape. Short-term markets. Extended intermediate longterm things look fine now earnings next week. We've got Monday morning, CitiGroup. Goldman Sachs, Charles Schwab. God. Let's see here bunch of others. But I don't wanna go to spend too much time going through everything let's focus on I'll be focusing on those in the afternoon. We've got J. B hunt, ticker symbol, J T. Pinnacle financial p it's a financial the watch it. And then. That's it for Monday Tuesday. Before the open. We've got Bank of America. United health Johnson Johnson black rock and progressive few other ones as well. But those are the big ones I'll be watching. And then after the close on Tuesday will be looking at Netflix IBM CSX United continental interactive brokers and. United financial smaller Bank. But you being case I'd be watching those. That's Monday Tuesday the rest of"