This Week in Markets - Feb 17
Short Week but Heavy Volatility!
Welcome back to another weekly market prep with The Dividend Journal! If this is your first time here, great timing. This newsletter is your one stop shop to stay ahead of the market and step into the week fully prepared.
Markets are closed on Monday, February 16 for Presidents’ Day. We’re in for an exciting short week.
🎯 Initial Thoughts
The market continues to show internal weakness with positive reactions to economic data and then immediate sell offs during the NY sessions. Despite the shorter week, the market is still expected to move over 150 points on SPX. This upcoming Friday is also February OPEX expiry. Internally, software and other tech sectors have already sold off heavily (40-60% off from ATHs). Despite this, SPY 0.00%↑ is still holding up pretty well from the highs mostly supported by industrial and financial companies.
On the other side of the story, the Put to Call ratio spiked a little bit to close off the week. To properly read this, if we get any larger spikes, it usually indicates potential price bottoming. The large anomaly spikes occur when the majority of the selling has already peaked.
📅 Key Earnings & Economic Calendar
Wednesday, February 18: FOMC Minutes and Durable Goods
Friday, February 20: GDP & Core PCE
Earnings this week, courtesy of Earnings Whispers:
