January 3, 2022, 9:08 pm EST
Strong Beginning
The first trading day of 2022 turned out to be very strong and bullish: DJIA +0.7%, S&P 500 +0.6%, Nasdaq +1.2%.TSLA jumped with +13.,5% gains and AAPL +2.5% at another new high may draw the attention of many people. But we would like to mention a few other highlights for potential selections of watchlist or portfolio members.
Obviously, the focus shifted back from defensive to the core and offensive areas. It seems to us the market provides some bullish setup where some of the stocks may begin their rally. Here are some stocks that got our attention:
- Money Center Banks: WFC, BAC
- Oil: FTI, NOV, SLB, RIG, OXY
- Semiconductor: TSM
- Automobile: F
Furthermore, the strengthening of cruises (CCL, RCL, NCLH), airlines (AAL, DAL), and malls (JWN, M) seem to indicate an optimistic view on COVID-19 development.
Technically, higher volume on new highs (DJIA, S&P500) is another bullish indicator. Overall, today’s performance is a strong beginning for 2022.
