Week of 01/09-01/13 Rally continues, fourth quarter season earnings begin

01/09/2023 Stocks soared early Monday morning as Friday's rally continues to push higher. This marks the first rally of 2023 and one of the best starts of the years in all indexes for the last decade. Retail stocks had the main stage Monday as Bed Bath & Beyond continues its volatile trading, surging over 50% after losing almost 40% of value last week. Lululemon, Macys, as well as other retailers are announcing expectations of fourth quarter margins to decline as inflation has impacted consumer spending. This is nothing new to wall street analysts who have been cutting estimates for earnings since early December.

01/11/2023 Stock continue to rally mid week just before Thursday's CPI report and earnings from major banks on Friday. The market is currently on its fourth day rally which has given investors confidence to keep buying growth stocks with a potential tech rally.

01/13/2023 Volatility in the market continues as mixed emotions of the CPI report reflect in the trading charts. CPI inflation rate came in cooler than expected, indicating that inflation is around 6.5%. This caused the market the rally at the market open on Thursday but sell off shortly after, just to jump back up in a classic reversal. This volatile action set resistance for the SPY around 393 and investors are now looking at the 398 key level to break for more upward momentum. Major bank earnings are in full swing with Wells Fargo, Bank of America, and J.P. Morgan beating expectations with most revenue benefiting from high interest rates.