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Technical View of Preferred Portfolio Allocations

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What’s in Today’s Report:

  • Technical Analysis of Sevens Report Preferred Portfolio Allocations and the Yield Curve
  • Philly Fed Takeaways and Jobless Claims Chart
  • Value (VTV) recovers to flat for 2022 (Chart)

Stock futures came for sale late yesterday following negative Russia-Ukraine headlines as traders continue to digest the sizeable post-Fed rally.

After the Wall Street close yesterday, the U.S. Defense Intelligence Agency released a report that Russia is increasingly likely to threaten nuclear options as the war with Ukraine drags on which weighed on risk assets broadly.

Today, there is one economic report: Existing Home Sales (E: 6.170M) but it shouldn’t move markets and two Fed officials are scheduled to speak: Barkin (10:00 a.m. ET) and Evans (2:00 p.m. ET) but neither are voting members of the FOMC.

Today is quadruple witching options expiration so expect big volumes and some technical trading in equity markets however geopolitical developments regarding Russia and Ukraine will still be able to influence price action as we close out another volatile trading week.