DAILY NOTE 1/17/2024

                                                                                                                               Right or Right Out!

After the close 1/17/2024

                                                                           Market Insights Newsletter - Special Daily Edition

For Trading January 18^TH

                                                                                                                                                            RETAIL SALES COMES IN HOT!

                                                                                     RATES AND DOLLAR RISE

STOCKS LOWER, CLOSE MID-RANGE !!!

Bank stocks had split results again with SCHW with a miss, pre-open, but coming back from a decline of almost $5.00 to close down just $ .92, but then after the close we heard from Discovery Financial (DFS) which had closed $108.74 -.92 and then fell back to $97.75 and a last in extended hours of $98.40 -11.26 (10.27%).  NFLX was named the #1 pick in streaming at B. of A. with a price objective of $585.00. It closed $480.33 -.91 in a declining day for the mega-caps!

The rest of the market was lower. DJIA 94.45 (.25%), NASDAQ -88.73 (.59%), S&P-500 -26.77 (.56%), RUSSELL -14.14 was the biggest loser (.73%), and the DJ Transports coming in a close second at -110.54 (.72%).  A/D were 3:1 on the NYSE and 2:1 on the NASDAQ while volume shrank to 5.2Billion shares traded, down about 20% from yesterday!

Our “open forum” on Discord, which allows you to interact with subscribers and others to allow direct questions and chart opinions on just about any stock, continues to grow with more participants every day. It is informative and allows me to share insights as the market is open and moving. The link is: https://discord.gg/ATvC7YZ and I will be there and active from before the open and all day. It’s a great place to share ideas and gain some insights, and we’ve grown to almost 3000 members.

Tonight’s closing comment video: https://youtu.be/l8ESmXGoD-o

SECTORS: All of my sectors wereLOWERtoday with only the Defense sector just barely showing a gain!

WORK FROM ANYWHERE:WASLOWERWITH ETF, WFH $53.60 -.55 (1.01%)

Biggest gainer: CRM +.67%     Biggest Loser: ZM -2.50%

INFRASTRUCTURE:wasLOWERwithETF, PAVE $33.20 -.26 (.78%).

Biggest Gainer: ROAD +1.38%                 Biggest Loser: TPC -4.58%

AIR & CRUISE LINES:wereLOWERwithETF, JETS $17.56 -.34 (2.18%)

Biggest gainer: NONE                         Biggest Loser: JBLU -7.99%           

FOOD SUPPLY CHAIN:wasMIXEDwith ETF, PBJ $45.40 -.09 (.20%)

Biggest Gainer: CPG +1.33%                                  Biggest Loser: UNFI -2.29%

BIO-PHARMA:wasMIXEDwith ETF, IBB $135.00 -.93 (.68%)

Biggest Gainer: GILD +.72%             Biggest Loser: BHC-2.86%

CANNABIS:wasLOWERwith ETF, MJ $3.46 -.11 (3.08%)

Biggest Gainer: NONE                   Biggest Loser: GRWG -5.99%

DEFENSE:wasHIGHERwith ETF, ITA $119.32 +.02  (.02%)

Biggest Gainer: BA +1.28%        Biggest Loser: TDY -2.56%

RETAIL: wasLOWERwith ETF XRT $68.22 -.41 (.60%)

Biggest Gainer: FL +.96%               Biggest Loser: KSS -2.54%

FINANCIALS:WERELOWERwith ETF, XLF $37.23 -.11 (.29%)

Biggest Gainer: V + .48%   Biggest Loser: SOFI -2.59%

MEGA-CAP & FAANGwereLOWERwith ETF XLK $191.70 -1.02 (.53%)   

BIGGEST GAINER: BA +1.16%       BIGGEST LOSER: CAT -2.99%

A.I :stockswereLOWERwith the ETF: BOTZ $28.12 -.47 (1.64%)

BIGGEST GAINER: BFRG +31.82% BIGGEST LOSER: BBAI -4.86%

METALS:wereLOWERwith the ETF: XME $55.60 -.43  (.77%)

BIGGEST GAINER: NONE           BIGGEST LOSER: NEM -3.36%

ENERGY: $72.56 +.16  We had solid rally early todaythat took us as high as 73.64 before we turned down and closed near the lows, making it look like we’re headed for yet another test of support! The stocks however in the XLE showed gains finishing $80.15 -.56 (.69%).

NAT GAS: $2.50 +.02The cold weather finally caught up to the extremely tight supply / demand of the Nat Gas market. Falling temperatures across the U.S. and Europe have sent prices sharply higher. From the sound of the reports I’m hearing, it seems that things may stay this way for a while, and some of the low readings in mid-America are new all-time lows! This is a roll from February to the March contract.

BITCOIN: $42,810 -485Last week’saction showed that Crypto is managing to overcome the questionable player in the field along with more mainstream adoption and participation and possible regulation to remove the Wild West history of this market. I look for it to go higher from here over the intermediate and long term! GBTC finished the day at $38.00 -.32 and our open position in ETHE finished at $20.49 -1.10.

Tomorrow is another day.

CAM

Subscribers to GREAT WIZE OZ

Receive free texting of all new or

closing trades with their subscriptions

TO SUBSCRIBE or for questions

GO TO: www.GreatWizeOZ.com

Call 617-827-1296

The Views and Opinions expressed in this article are the author's own and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors.