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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 7 February: ASX sheds 0.5pc | CBA lifts cash rate forecast to 3.85pc; ARB dives | Australia’s rental market is as tough as it has ever been |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 6 February: ASX drops 0.25pc | UBS remains dovish on RBA | Gascoyne Resources releases exploration target |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 06 FEBRUARY: ASX to rise as investors hang hopes on a soft landing | After a successful $4.5 million cap raise and with cancer trial results to come, Kazia is optimistic for 2023 |

    From the Desk of Wyckoff Trader:

    From the Desk of Wyckoff Trader:

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 03 FEBRUARY: ASX to rise | Alphabet, Atlassian tumble on earnings | Aura gets 30-year guarantee for Mauritania uranium project |

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: ARVO WRAP 7 February: ASX sheds 0.5pc | CBA lifts cash rate forecast to 3.85pc; ARB dives | Australia’s rental market is as tough as it has ever been |

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 07 FEBRUARY: US stocks extend losses | RBA poised to lift rates by 0.25pc | Will Newmont’s $24 billion Newcrest bid cause a gold takeover cascade? |

    $ up, cotton down, easy money.

    Jason Sen: Forex

    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 06 FEBRUARY: ASX to rise as investors hang hopes on a soft landing | After a successful $4.5 million cap raise and with cancer trial results to come, Kazia is optimistic for 2023 |

    Dollar dipsey doodle at 10150.

    Cabrera Capital Daily Game Plan

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    PEAK MORNING WRAP 28 September: Tech Event… Who is the standout? | US Stocks Rally

    PEAK ASSET: MORNING WRAP 03 FEBRUARY: ASX to rise | Alphabet, Atlassian tumble on earnings | Aura gets 30-year guarantee for Mauritania uranium project |

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Chart of the Day: Etsy Stock Tumbles

Contributor by Contributor
May 6, 2021
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Etsy stock isn’t trading well in Thursday’s pre-market session, down about 10%. The move comes after the company’s first-quarter earnings report. 

The company crushed earnings and revenue expectations, posting its fourth straight quarter of triple-digit revenue growth. Guidance for next quarter also came in strong. 

Despite this though, shares remain under pressure. That comes as investors remain cautious in a difficult comparison period vs. 2020. Of course, it doesn’t help that growth stocks are clearly in a bear market. 

What’s up with the chart?

Danny Riley is Mr. Top Step’s 39-year veteran of the CME trading floor and ran one of the largest S&P desks on the floor. Here’s what he’s thinking each morning before the stock market opens. 

Trading Etsy Stock

Daily chart of Etsy stock
Chart courtesy of TradingView.com

Investing in a bear market is tough — for traders and investors. While the overall market is not in a bear market, it’s clear that growth stocks are. 

When we look at the dip in Etsy stock, we see it’s being thrust right down to the 200-day moving average. Given how well this company and its stock has done, one would expect this level to at least provide a bounce this morning. 

Etsy is currently trading around $168 in pre-market trading, putting it right near the 200-day. If the stock closes lower on the day, we’re talking about its sixth straight daily decline. 

I want to see the stock open near the $170 area and try to rally. It’s preferable that it gives us a gap-fill back up toward $181.50. However, that might be asking for a lot considering it’s down about 10%.

Again, I expect some sort of bounce. The question is, how much “oomph” will it have? Will we bounce to $175 and fade? Will it close below the 200-day? 

That’s what we’re trying to gauge. If it closes below the 200-day, perhaps the 50-week moving average is in play near $158. 

I’m not calling a bottom in Etsy stock. At least not yet. However, this stock has been a big winner and despite the bumpiness — shares are down about 34% from the highs based on Thursday’s pre-market — the trend is still higher. 

As we all know, there’s no crystal ball when it comes to trading stocks, options or futures. But the Market Imbalance Meter may be as close as it comes. Knowing how the “Big Money” is placing its bets can give our trading room a big wave to ride — or a warning sign to stay out of the water. Come check it out now, risk free for 30 days.

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