{"id":5762,"date":"2016-09-22T15:18:43","date_gmt":"2016-09-22T19:18:43","guid":{"rendered":"http:\/\/www.thet3trader.com\/?p=5762"},"modified":"2016-09-22T15:18:43","modified_gmt":"2016-09-22T19:18:43","slug":"t3s-take-3-nasdaq-smashes-record-amid-post-fed-optimism","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2016\/09\/22\/t3s-take-3-nasdaq-smashes-record-amid-post-fed-optimism\/","title":{"rendered":"T3’s Take 3: NASDAQ Smashes to Record High on Post-Fed Optimism"},"content":{"rendered":"

Prop Trading Information Session Starts Soon!<\/strong><\/p>\n

Click here to get in the room now!<\/a><\/strong><\/p>\n

1) All-Time Nasdaq Highs<\/strong><\/p>\n

The Nasdaq Composite<\/strong> slammed to a new all-time 5341.88 all-time high today on continued momentum in large-cap technology and biotechnology shares.<\/p>\n

Traders remain pleased with yesterday's Fed statement, which indicated a slow and steady rise in interest rates over the long run.<\/p>\n

The S&P 500<\/strong> gained 0.6% to finish at 2177, while the Russell 2000<\/strong> rose 1.5% to 1263.<\/p>\n

All S&P sectors finished in the green today, and we saw relative strength in\u00a0some of yesterday's winners like real estate, oil service, airlines, and industrials.<\/p>\n

Gold miners saw profit taking despite an increase in gold prices,\u00a0which smells like profit-taking after a massive run up yesterday.<\/p>\n

2) Sentiment Check<\/strong><\/p>\n

Permabulls always say everyone\u2019s bearish.\u00a0And permabears always say everyone\u2019s bullish.<\/p>\n

So I regularly check various sentiment measures to get a realistic reflection of the market\u2019s mood.<\/p>\n

Right now, traders seem somewhat bearish, even though the S&P 500<\/strong> is less than 1% from its 2193.42 all-time high.<\/p>\n

The ISE Sentiment Index, AAII Sentiment Survey, and S&P 500 options prices all indicate that traders are very concerned about a drop in the market, which implies that this rally is not widely trusted.<\/p>\n

You can read more about this here<\/a><\/strong>.<\/p>\n

3)\u00a0Buy Buy Airnb?<\/strong><\/p>\n

This afternoon, Fortune\u00a0reported that home\/lodging sharing company Airnb secured $555 – $800 million in new financing at a $30 billion valuation.<\/p>\n

Unfortunately, this means that Airbnb will not join what has been a fairly hot IPO market.<\/p>\n

Recent new issues like Twilio<\/strong> (TWLO) and Acacia<\/strong> (ACIA) have become darlings among momentum traders.<\/p>\n

But with this significant cash infusion, it appears that Airbnb won't be tapping the public markets for financing any time soon.<\/p>\n

Friday's Trading Calendar<\/strong><\/span><\/p>\n

US Economics (Time Zone: EDT)<\/strong><\/u><\/p>\n

09:45 Markit US Manufacturing PMI (Sep P): exp. 52, prior 52
\n12:00 Fed's Harker, Mester, Lockhart on Panel at Philly Fed Conf
\n12:30 Fed's Kaplan Speaks in Houston in Moderated Q&A
\n13:00 Baker Hughes U.S. Rig Count (9\/23): prior 506
\n13:00 Baker Hughes U.S. Rotary Gas Rigs (9\/23): prior 89
\n13:00 Baker Hughes U.S. Rotary Oil Rigs (9\/23): prior 416<\/p>\n

Global Economics<\/strong><\/u><\/p>\n

03:00 EUR French Flash Services PMI
\n03:30 EUR German Flash Services PMI
\n04:00 EUR Flash Services PMI
\n08:30 CAD Core Retail Sales
\n08:30 CAD Core CPI<\/p>\n

Earnings<\/strong><\/u><\/p>\n

Before Open:<\/p>\n

Finish Line\u00a0<\/b>(FINL)<\/p>\n

After Close:<\/p>\n

None of Significance<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

Prop Trading Information Session Starts Soon! Click here to get in the room now! 1) All-Time Nasdaq Highs The Nasdaq Composite slammed to a new all-time 5341.88 all-time high today on continued momentum in large-cap technology and biotechnology shares. Traders remain pleased with yesterday’s Fed statement, which indicated a slow and steady rise in interest rates over the long run. The S&P 500 gained 0.6% to finish at 2177, while the Russell 2000 rose 1.5% to 1263. All S&P sectors finished in the green today, and we saw relative strength in\u00a0some of yesterday’s winners like real estate, oil service, airlines, and industrials. Gold miners saw profit taking despite an increase in gold prices,\u00a0which smells like profit-taking after a massive run up yesterday. 2) Sentiment Check Permabulls always say everyone\u2019s bearish.\u00a0And permabears always say everyone\u2019s bullish. So I regularly check various sentiment measures to get a realistic reflection of the market\u2019s mood. Right now, traders seem somewhat bearish, even though the S&P 500 is less than 1% from its 2193.42 all-time high. The ISE Sentiment Index, AAII Sentiment Survey, and S&P 500 options prices all indicate that traders are very concerned about a drop in the market, which implies that this rally is not widely trusted. You can read more about this here. 3)\u00a0Buy Buy Airnb? This afternoon, Fortune\u00a0reported that home\/lodging sharing company Airnb secured $555 – $800 million in new financing at a $30 billion valuation. Unfortunately, this means that Airbnb will not join what has been a fairly hot IPO market. Recent new issues like Twilio (TWLO) and Acacia (ACIA) have become darlings among momentum traders. But with this significant cash infusion, it appears that Airbnb won’t be tapping the public markets for financing any time soon. Friday’s Trading Calendar US Economics (Time Zone: EDT) 09:45 Markit US Manufacturing PMI (Sep P): exp. 52, prior 52 12:00 Fed’s Harker, Mester, Lockhart on Panel at Philly Fed Conf 12:30 Fed’s Kaplan Speaks in Houston in Moderated Q&A 13:00 Baker Hughes U.S. Rig Count (9\/23): prior 506 13:00 Baker Hughes U.S. Rotary Gas Rigs (9\/23): prior 89 13:00 Baker Hughes U.S. Rotary Oil Rigs (9\/23): prior 416 Global Economics 03:00 EUR French Flash Services PMI 03:30 EUR German Flash Services PMI 04:00 EUR Flash Services PMI 08:30 CAD Core Retail Sales 08:30 CAD Core CPI Earnings Before Open: Finish Line\u00a0(FINL) After Close: None of Significance<\/p>\n","protected":false},"author":6,"featured_media":4098,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[],"class_list":["post-5762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/5762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=5762"}],"version-history":[{"count":0,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/5762\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/4098"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=5762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=5762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=5762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}